Credit versus mandate contract – does the mandate contract eliminate you from the group of potential borrowers?

Do you work on a commission contract? Would you like to take a loan but are you afraid that the bank will clear you away? Credit and mandate contract: isn’t it mutually exclusive? Contract and cash loan: do you want to know if you have the chance to receive money at all? Contract and housing loan: banks allow this solution? Are you wondering at which bank I will get a loan for a mandate contract? Today we will try to answer these questions!

Will I get a loan on the commission contract?

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What bank will give a loan for a mandate contract? Currently, more and more banks are opening to borrowers employed under a mandate contract. Cash loan based on a mandate contract is no longer a rarity today. Installment contracts are also an option. Installment purchases are already a standard offer on today’s market in many stores that cooperate with banks. Installments and mandate contract: in some cases, the buyer must provide proof of income, for example, an account statement.

Contract and creditworthiness

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Creditworthiness, or the fear of potential borrowers! From our previous text: “Creditworthiness – what is it and how to check it?” You already know how creditworthiness is defined and that it consists of a number of factors, including income, number of children, etc. Form is also an important issue employments. Therefore, if we want to take out a loan with a mandate contract, we must expect that the bank will require a specific employment period for the mandate contract, for example, lasting at least six months.

Mortgage and mandate contract

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Will the banks offer a mortgage contract? Yes! Many banks offer the possibility of obtaining a mortgage, even if the potential borrower is employed on the basis of a mandate contract, but one thing must be remembered: it is possible (although it is not necessary) that the creditworthiness of such a person will be less than the client employed on the basis of work and as a result, the bank will offer him a loan in a lower amount.

Cash loan – mandate contract: what to keep in mind?

We already know that the mandate contract does not eliminate us from the position of a potential borrower. Interestingly, this applies not only to cash loans, but also to mortgage or housing loans. Form of employment – the mandate contract does not have to be an obstacle to applying for a loan, also in a situation where the mandate contract is the only source of income. It is worth remembering, however, that banks approach clients working on the basis of mandate contracts in a different way, so if we are looking for a loan: let’s compare the offers of individual banks, compare the proposed conditions with each other and thoroughly analyze individual proposals.

TO CONCLUDE: work based on a mandate contract does not mean that we will not receive a loan. On the contrary, many banks accept a similar source of income. Nevertheless, it may be that the mandate contract affects the customer’s creditworthiness. Ultimately, whether we get a loan is an individual matter.

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