In this article we will discuss the question: borrowing money with an annual contract, is this possible?
If you wanted to borrow money a number of years ago, a number of requirements were set, for example, you did not have to be on a black list and you were required to have a permanent contract with your employer. Now we live in a completely different time and so you can also start wondering whether borrowing money with an annual contract is also possible.
The fact is that employers are no longer so easy with offering a permanent contract. You often first have to submit an annual contract several times before the employer will start offering the permanent contract. Especially if you want to borrow money, you can think that this can become a problem, but this is not entirely the case.
Admittedly, a finance company or a bank will still want you to have a permanent contract as this brings more security. Yet there are also options if you have an annual contract. Times are changing and the providers of loans and credits also know this. Many financing companies are therefore moving with the times and will also be willing to provide financing to people with temporary contracts.
How can you borrow money with an annual contract?
Borrowing money with an annual contract is the same as when you want to borrow money with a permanent contract. Nevertheless, there are a number of points that you should take into account. A lender wants security, the more security you can, the sooner they will be willing to provide you with the financing.
If you have already applied for a loan from a financing company or bank and have repaid it without any problems, it may be wise to re-submit the application to this company. After all, this company has a good experience with you and knows from the past that you meet the obligation to repay. If you have already had an annual contract with the same employer several times, it is also advisable to indicate this, the lender will then know that your employer is satisfied with you and this also offers more certainty.
Finally, you can submit an employer's statement in which you have your employer declare that if you continue your work in the same way, your contract will be extended. If you take these points into account, you will see that the finance companies and banks will be more likely to offer a loan, even if you have an annual contract.