This is a common problem that needs to be analysed from multiple perspectives. First, both spouses are required to decide jointly whether to apply for a loan. If both husband and wife need a loan, then together they can choose their principal. Typically, the lender would be the party with a high credit score, a stable income and a strong repayment capacity. This would significantly increase the success rate of loan applications。

A husband and wife loan to a bank lender

However, if only one of the parties needed a loan, how should the main lender be chosen? This requires consideration of the credit position of the spouses, income, liabilities, etc. If the credit position of the couple is similar, the party with a higher income and lower liability may be selected as the principal lender. If the credit position, income and liabilities of both spouses are similar, either party may be chosen as the principal lender. However, in selecting the principal lender, there is a need to consider repayment capacity and responsibility. Because, in the event of problems with the loan, the principal is expected to assume greater responsibility and risk。

At the same time, both spouses need to specify the purpose of the loan and the manner of repayment. Consensus was needed on the purpose of the loan and the manner in which it was to be repaid, avoiding borrowing disputes or the risk of default. It is also important to note that loans are a long-term burden, requiring an appropriate method and duration of repayment based on the actual income and living standards of both spouses. In the course of the loan, the spouses are required to communicate with each other in an honest manner and to share the responsibility for repayment, so as to avoid creating debt crises and family conflicts。

It should also be noted that financial ties between spouses are not the only form of loans. In economic matters, the spouses may choose to open joint accounts, joint investments, etc., and can effectively coordinate family income and expenditure and financial management. Thus, before selecting the principal, it is recommended that both spouses develop a family financial plan, clarify the financial obligations and responsibilities of individuals and families and reconcile the financial relations between the spouses。