Loan with Fixed-Term Contract and Apprenticeship
Loan with a fixed-term contract, when can it be obtained? Do you need financing but don’t know how to proceed to obtain a loan without an indefinite contract?
In this article we try to provide you with all the information you need to understand if and when you can apply for a fixed-term loan. If you have a question, write us a comment; below you will find a space where you can ask us your question or simply tell us your story.
We will get back to you quickly. If, on the other hand, you would like our advice, free of charge and without obligation, fill out the contact form on our website. The request will not be reported to the credit databases (registration number in the credit brokers register M359).
Let’s see now how to get liquidity if with a paycheck but if an indefinite contract.
Fixed-term loan, what to avoid?
The first thing you need to know is that obtaining a loan with a term contract is certainly not simple, therefore the first advice you need to keep in mind is to avoid making requests online or directly at the loan and financing agencies without having the certainty that your request can be accepted.
The evaluation of a financing practice is strictly connected to the vision of a customer’s credit profile. That is to say that the bank or financial institution to which you have turned, or intend to do so, will access this database to ascertain your historicity in the credit system. Three scenarios can arise:
- I never made a loan
- I have ongoing loans that are paid off regularly
- active or past loans, show payment errors due to installments paid late
Making numerous requests to banks and financial companies hoping to get the money you need sooner or later is the first thing to avoid. All these reports will contribute to penalizing your creditworthiness, determined, almost certainly, a succession of chain waste.
Fixed-term payroll financing, the importance of the guarantor
We have just seen what not to do, so let loose in a series of requests for funding only with the hope that sooner or later we will receive a yes.
Now the second essential rule for successful financing. Obtaining fixed-term loans without a guarantor is an almost impossible mission. The bank or financial institution that will evaluate your request will have to protect itself in some way, taking into account the precariousness of your income.
Precisely for this reason the second advice is to make the request for funding only if accompanied by a valid guarantor, a second signature of a relative or cohabiting partner, who has already had loans and who have always paid regularly.
Also known as the guarantor, the second signature will facilitate the analysis and evaluation by the lender. To date, as far as we know, real solutions to obtain money without guarantor do not exist.
Loan with apprenticeship contract, in this case?
Is it possible to obtain financing with an apprenticeship contact? This is the question of many young people, hired with this type of contract, interested in obtaining liquidity for various reasons. In most cases the recurring question is ” can I get auto finance with an apprenticeship contract?”
We distinguish two possibilities:
- if the apprentice contract is for an indefinite period, therefore if automatic transition is foreseen at the end of the training period
- if the training in the company provides for a termination date
In both cases, if we talk about personal loans, the signature of a guarantor is certainly welcome if not, for some financial companies, necessary.
Are there loans for apprentices without guarantor? Yes, through the transfer of the fifth (feasible only in the first case) the apprentice will also be able to access a loan with a single signature. The loan agreement must end within the expiry of the employment relationship.
In the second case, as for fixed-term contracts, the second signature of a relative is essential.
It will be difficult to obtain a home loan, always for the same reasons that limit banks and financial companies to grant a personal loan.
If you are interested in more information on loans for apprentices without guarantor, contact us now! Fill in the contact form on the website.
Fixed-term loans without guarantor, when can I apply?
As a first step, the transformation of the permanent contract is indispensable. Once the transformation has taken place, you can apply for funding even after 6 months of hiring have passed.
In another article we talked about the funding dedicated to new hires. For more details you can read the article Loan to new hires.
Without the help of a guarantor, there is no real possibility that the loan application will be successful.
Mortgage apprenticeship or fixed-term contract
When you intend to buy a house through a mortgage, the income base must be accompanied by a stable working relationship. Without the signature of a guarantor or better of a coobligate, requesting a loan for a property appears does not make sense.
No credit institution will positively evaluate a mortgage application if the applicant is without an indefinite contract or otherwise hired with an apprenticeship.
In any case, it will not be an easy way to go for the reasons just explained, but certainly the only real possibility is that the home loan applicant involves a second guarantee signature.