A commission contract is a so-called “junk contract”, which is often accompanied by low earnings. Often, but not always … Freelancers often work on such contracts, e.g. programmers, graphic designers or copywriters who don’t complain about earnings. After all, the mandate contract is said to hinder or even prevent you from getting a loan. Credit on the mandate contract seems impossible … Why? Each banking institution calculates the creditworthiness of the client. He assesses whether he will be able to pay his debt without any problems. Creditworthiness is affected mainly by financial history in BIK, age, marital status, number of dependents, occupation, earnings and precisely – the form of employment. It’s no secret that an employment contract that gives you the most stable employment is most desirable. But how do you calculate the creditworthiness for people on a mandate contract? Is a loan under a mandate contract even possible?
Contract and credit agreement
The mandate contract is a popular civil law contract that employs around 10% of Poles. Unfortunately, it is governed by other laws than an employment contract, which is why people employed on such a contract often have difficulty obtaining a loan or credit. The mandate contract is easy to break up, and this creates the risk that the customer may suddenly, day by day, be left without income. As a result, the bank is not sure that the customer will be able to pay its debt.
Credit on the mandate contract is difficult to obtain, but this does not mean that it is impossible … Can you take a loan on the mandate contract?
It turns out that yes! What’s more, we can receive support in both the bank and loan companies that offer payday loans and installment loans. Banks are increasingly providing financial assistance under a mandate contract, provided that you have sufficiently long work experience and adequate income. The form of employment and the type of contract are of great importance for creditworthiness, but fortunately, this is not the most important thing. If we have proven stable income, we can count on a loan based on a mandate contract and even a contract for a specific task! Moreover, such contracts are often considered as additional income and are included in the creditworthiness.
What form of employment do banks accept?
- employment contract,
- civil law contracts, i.e. a mandate contract and a contract for specific work,
- business activity,
- pension and retirement pension,
- management contract
The credit procedure is very simple. We can personally go to a selected bank branch and talk directly to a credit advisor, or fill out an online form and wait for his call. By submitting your application, in many cases you can support your bank statement confirming the regularity and amount of income. However, most banks will demand the presentation of the contract itself, usually from last year.
Contract and home loan
A housing loan on a commission contract seems a total abstraction … and yet! Contract and mortgage? This can also work! Of course, the condition is a period of employment. To be able to make such a commitment, you must document the length of service under the mandate contract, which must be at least 6 months. In some banks 12 months, but it depends on the requirements of a particular bank. The bank may also contact the workplace or the payer to confirm cooperation.
Is a loan possible under an order contract?
Banking institutions prefer clients with regular and regular income under an employment contract, but we can also apply for a loan under a mandate contract in non-bank companies. The more that such a loan goes quickly to your account! In addition, in the case of banks, a bad credit history usually prevents you from getting a loan, even when working on a contract of employment. Non-bank institutions often do not look at credit history. What counts is the fact that the client has a stable source of income, so it is fully reliable. Loan companies consider clients working under a mandate contract to be completely solvent. They pay attention to the regularity of orders, and when verifying the amount of income, they usually take into account the average of the whole year.
A loan under a commission contract is therefore possible! The loan company is only interested in timely repayment, that’s all. And where do we get the money for it, it already leaves us. The company may possibly reduce the amount of loan that we applied for.
More and more people specializing in well-paid jobs prefer to work as a freelancer. Most often they accept orders only on the basis of a mandate contract or a specific task contract. Financial institutions know this very well, which is why they are increasingly willing to offer support.