Anyone who has already taken out a loan knows that banks work with Credit Bureau. Banks use this to check whether there are negative entries that could possibly impair creditworthiness.
Negative entries include payment delays or loan contracts. If there are too many negative entries, the bank can decide to reject a loan application. Unfortunately, some consumers are excluded from lending. Nevertheless, they can hope for a loan abroad. Swiss loans are granted there without Credit Bureau!
How can I apply for the loans?
Swiss loans without Credit Bureau are granted by a credit intermediary. This works closely with banks in Switzerland, so that the applicant does not have to visit the bank himself. This searches for a credit broker on the Internet who will forward the applications. Once the applications have been passed on to the bank, the credit intermediary will receive offers that he can submit to the applicant.
The latter can then decide on an offer and sign a loan agreement. The credit broker demands money for his work, so a fee must be expected.
What conditions does the applicant have to meet?
In order to be able to apply for Swiss loans without Credit Bureau at all, applicants must meet different requirements. The applicant must be of legal age and be able to prove with the registration confirmation that he is resident in Germany. As the Credit Bureau is not checked, banks always ask for an employment contract or proof of salary as security.
The work should be acquired from a non-self-employed activity. Nor can he receive any social benefits, such as unemployment benefits. This income is not attachable, so it does not serve as security. The latest bank statements would also be an advantage so that the bank can see a regular receipt of income. When these documents have been checked, a tailored loan offer will be made.
Conditions of the bank
Because banks in Switzerland take a risk in lending, borrowers often have to pay higher interest rates than German banks. But since these often have no chance at all in this country to get a loan, this does not deter many from borrowing.
The credit rate is determined right away so that the borrower can see which accounts they would have before signing the application. It would be advisable to choose different credit intermediaries because they have different fees and also work with different banks.