Borrowing money with an annual contract is certainly possible if you meet the set conditions. Naturally, other factors that may play a role in applying for a loan are also considered. I will try to explain what the conditions are so that you can view and compare what could be the best solution for taking out a loan.
How much do you want to borrow and what are you going to use it for, do you opt for a long-term loan or would you rather get rid of it quickly. There are various calculation modules where you can see exactly how much you can borrow with your income.
Borrow money with an annual contract
There are different forms of credit that you can also apply for with an annual contract. If you opt for additional spending room to absorb any setbacks, you can opt for a revolving credit, which you can request from 5,000 euros.
Are you going to buy something expensive such as a car, a caravan, camper or are you going to rebuild your house and do you need the money in one go, then choose a personal loan. Thirdly, you can borrow a small amount in the form of a mini loan, this way you can quickly borrow an amount up to a maximum of 1500 euros, in which case it is no objection that you have an annual contract anyway.
Which conditions must I meet
It is important for the lender to find out whether you will be employed on a permanent basis after the expiry of the annual contract, therefore a letter of intent is usually requested from the current employer where this indicates that you can become a permanent employee after this period, the same applies to borrowing money as a temporary worker.
For example, it can be determined whether you can still pay off the loan in a normal way after one year, this is of course also important for yourself, because after that year you do not want to get into trouble because you can no longer pay off your loan .
What else is being looked at
Borrowing money with an annual contract, a number of factors are considered that determine whether or not your application is approved. Do you live in a rental house or do you have a house for sale, do you live together or do you have other loans? If so, then you can probably skip it immediately.
It is also important that you do not have a BKR backlog, or a negative BKR, if you do have the latter then you can only go for a mini loan. This way you can see that there are many factors that determine whether you meet the conditions of a revolving credit or personal loan.