You know, like “always split on 18,” or “having kids is the most rewarding thing you can do in life.”

What’s that one bit of advice you got from a trusted friend that you know deep, deep down would just ruin your thing?

  • jeffw@lemmy.world
    link
    fedilink
    arrow-up
    9
    arrow-down
    8
    ·
    7 months ago

    There’s probably a healthy middle ground. We shouldn’t be handing major loans to people with no experience with credit either

    • Maestro@fedia.io
      link
      fedilink
      arrow-up
      5
      ·
      7 months ago

      We absolutely should. As long as they have enough stable income to support it. Rough guidelines in The Netherlands is that you can get a mortgage for about 4-5x your yearly income (subtract any other loans like credit cards, phone contracts or cars), and for no more than the house is actually valuated at (unless you’re going to remodel, then you can borrow for the estimated value after it is done).

    • Darukhnarn@feddit.de
      link
      fedilink
      arrow-up
      5
      arrow-down
      1
      ·
      7 months ago

      Why not? The concept is fairly easy to grasp and if I want a loan for a house, the bank can ask me to prove that I was able to put aside enough money beforehand to be able to chip away at a credit from now on.

      • jeffw@lemmy.world
        link
        fedilink
        arrow-up
        2
        ·
        7 months ago

        What about people who have good-paying jobs, but lots of other debt? Or a history of defaulting on debt (maybe they can’t hold jobs very long)

        • Darukhnarn@feddit.de
          link
          fedilink
          arrow-up
          1
          ·
          7 months ago

          Usually you’d go to the bank with the project and they ask you for securities, oftentimes the house your building or the ability to garnish your wages. Also they demand to know how much you’ve saved so far. Can’t give loans to everyone?