Borrowing today is not that difficult. There are many different types of loans that you can take out as a consumer: from mail order credit to borrowing money from a private individual , it’s all possible. But what if you don’t have a permanent contract as an employee? Is it still that easy to take out a loan?
Unfortunately, it is not. Many banks and lenders require that you have a fixed income at your disposal. Without a permanent contract, getting a loan becomes a lot harder, especially when it concerns larger amounts.
Borrowing money without a permanent contract is not entirely impossible!
For smaller amounts, borrowing money without a permanent contract is in many cases possible. Additional conditions are then set for this. What these conditions are, varies from lender to lender. Think of requirements such as:
- be at least 25 years old;
- be married;
- an employment history of at least two years;
- no negative registration with the BKR.
If you meet the additional conditions of the lender of your choice, taking out a loan is often no problem – even without a permanent contract. Again: this usually concerns smaller amounts.
Borrow more money without a permanent contract
Big plans and a small amount is not sufficient? Even without a permanent contract there are sometimes other options for obtaining that much sought-after loan. For example by means of a declaration of intent. A letter of intent is a statement from your employer, in which he or she indicates the intention to extend your contract or to convert it to permanent employment. The letter of intent therefore offers some certainty to the lender, which increases the chance that this will agree with your request for a loan. Conversely, you can also draw your own conclusion if your employer refuses to issue a letter of intent: the chance that you are only temporarily employed is high.