Contract and bank loan
A relatively large number of employees are employed under a mandate contract. For employers, the mandate contract is a form of cheaper employment compared to employment contracts. However, the employee has worse conditions, less stability. This also applies to the possibility of using bank loans. Banks value stable employment with their clients. They definitely prefer to credit a customer employed under an employment contract with an indefinite period of time than one who is employed for a year or 2 years under a mandate contract.
Where to look for help in this case, if we work on a mandate contract, which bank will agree to grant us a loan spread over the next 10 years, with a working time of 2 years ahead. Contract and bank loan, please enter.
Contract of mandate and cash loan
There are a few things to keep in mind when applying for a cash loan, whether you are working on a mandate contract or any other employment. The first important thing is creditworthiness. You should think about whether you can get a cash loan or consolidate loans with cash. A professional calculation of the offer will be helped by an advisor or broker. We are not always able to determine the creditworthiness level alone. Another thing is not having any arrears. If we have 2-4 days of arrears on one of our bank loans, it will definitely be better to pay them back, wait 2 days (this is how much the repayment update takes in BIK) and then submit an application.
A temporary order agreement is only one of the factors taken into account by the bank. Banks approach clients with commission contracts differently. Some require indefinite contract time, others are able to credit the client even if his mandate contract expires in a year. It is worth contacting a credit advisor if you have a temporary mandate contract. The specialist will help adjust our contract periods to the right bank.
Contract of mandate and consolidation loan
In the case of a consolidation loan, the situation is very similar to that for cash loans. It is worth delving into the banks’ requirements and their approach to mandate contracts. One of the banks will recognize mandate contracts lasting a minimum of one year and for an indefinite period, for others it is enough to have one signed half a year ago for the next 10 months.
When finding a good credit advisor, the most important thing will be having a mandate contract for a minimum of 3 months. There should be no problem with the timeliness of the contract. If you have questions about how the bank will approach the income from the mandate contract in your situation, please contact us.