Borrowing money with a temporary contract

It is a memory from a long time ago: about halfway through my primary school days, the whole school gathered to say goodbye to the director who retired.

He had been working at my school for forty years. From teacher, in the lower years he had worked his way up to director. That last day the whole school waved him goodbye as he cycled towards his retirement on a brand new bike.

Changes in the labor market

Changes in the labor market

For a child it sounds like an eternity and still forty years is half a human life. But forty years of being employed by the same employer is no longer an issue in the current labor market.

The labor market has changed. Young people have difficulty finding a job and older people take the blows when it comes to spending cuts.

Loan for home or car

Loan for home or car

A major change is that there are more and more people with a temporary contract. That means less certainty and not just with regard to work. The wishes of most people do not change.

People who live from temporary contracts to temporary contracts also want to buy a house or take out a loan for a new car, for example. But borrowing with a temporary contract was always a lot harder than borrowing with a permanent contract.

Borrow with a temporary contract

Borrow with a temporary contract

Fortunately, lenders are aware of changes in the labor market. Since September 1, it is, therefore, easier to borrow money with a temporary contract. With the launch of Good Finance, lender Good Finance offers people with a temporary contract more options for taking out a loan or credit.

Until now, borrowing money with a temporary contract was difficult because not all of the income was taken into account. Good Finance does it differently now.

The changes for borrowing with a temporary contract

The changes for borrowing with a temporary contract

  • From now on, with a six-month contract, 70% of your income will be taken into account when advising your loan application. That was 50% until recently.
  • Also for people with a temporary employee contract Phase B, 70% of the income is included. Previously, Good Finance did not include any income from a Phase B temporary worker for a loan.
  • Do you have a temporary contract, are you older than 30 and do you have a house to buy? In that case, your income will be fully taken into account when you apply for a loan.

More possible with borrowing money from Good Finance

More possible with borrowing money from Good Finance

These changes make it a lot easier to apply for a loan or credit with a temporary employment contract. Submitting this application to the Dutch Credit Company is particularly interesting because the Dutch Credit Company is a Premium partner of Good Finance.

That means that you are eligible for extra attractive interest! Forty years with the same boss may no longer be the case, but in this way a loan remains a real possibility for more people!

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