In addition, if the husband and wife loan is to be cancelled smoothly, it needs the approval of the bank, because the loan amount is high, mainly because both husband and wife apply together, and the repayment ability and work income of both husband and wife are higher than that of individuals. Once one party cancels the loan, the individual's repayment ability and monthly income will not reach the loan amount, so some banks may refuse this application.
Different loan products have different requirements for borrowers. Under normal circumstances, both husband and wife need to meet the following basic conditions when handling loans:
1. Both husband and wife are between 18-60 years old and have full capacity for civil conduct;
2. Both husband and wife have stable jobs and incomes, and have the ability to repay the loan principal and interest safely;
3. The personal credit status of both husband and wife is good, and there are no bad records such as overdue;
4. The purpose of the loan is reasonable and clear;
5. Meet other conditions stipulated by the lending institution.
Legal basis:
People's Republic of China (PRC) Civil Code
Article 1064
The debts incurred by both husband and wife after the same signature or ratification by one party, and the debts incurred by one party in his own name for the daily needs of the family during the marriage relationship, belong to the same debt of husband and wife.
Debts incurred by one spouse in his own name during the marriage relationship that exceed the needs of family daily life are not joint debts of husband and wife; However, the creditor can prove that the debt is used for the husband and wife's life, production and operation, or based on the same meaning of both husband and wife.