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In some European countries, people don't have credit scores, but when they're applying for a mortgage, they also need a collateral which costs about the same as
by golergka 4y ago
In some European countries, people don't have credit scores, but when they're applying for a mortgage, they also need a collateral which costs about the same as the house or apartment they're trying to buy.
I'd rather have credit scores, tbh.
- asdadsdad 4y agoYeah, and basically Americans can purchase so much more on credit, and Europeans complain they can't buy shit.
- Nextgrid 4y agoYet somehow the mortgage and lending industry manages to exist in Europe despite lack of a credit score.
- pjc50 4y ago[citation needed]; which countries? Obviously a 100% deposit is an exaggeration, and 5-10% more normal depending on the market, so what's the true deposit number?
- vetinari 4y agoThat collateral is usually the house or apartment that your are trying to buy. You can use something else, if you want, but usually it is the thing you buy.