A person’s creditworthiness depends on many different factors, but undoubtedly, the work that is done always plays a big role. A person who is unemployed and does not receive either a permanent pension or a retirement pension has no chance of a loan. The type of work you do, the amount of your earnings and financial stability depends on how much and if you get any money at all, depending, among other things, on what contract someone is employed.

You cannot hide that the employment contract is the most stable – even more so if it is a contract of indefinite duration, for example with a six-month notice or three months’ notice. Until recently, it was unthinkable that people working on other contracts – an order or work – would apply for a bank loan. At the moment, however, there are so many people working in a similar way that you can even get a mortgage from the bank. How to take a loan for a specific work contract and a mandate contract? What additional formalities does this involve?

Contract for mandate and contract for specific work – overview

The contract signed between the employer and employee always specifies the exact scope of duties, the amount of remuneration and the working time of a specific person. Some contracts are signed for a period of, for example, one year, or for an indefinite period, and therefore it is known that the employee will be in the company for the near future. If he is dismissed, everything must take place under the conditions set out in the contract – with the right to terminate, which allows you to find another job.

A specific work contract or mandate contract is less reliable than an employment contract. They can be signed for one month, without the right to terminate. They do not guarantee stable earnings and in general it is easier to lose such a job. As a result, for a bank a person working on a similar contract is less reliable. Employees have fewer rights and privileges, but also more flexibility, which many people like. You can slow down faster if you find a better deal. Mostly young people are employed on such contracts. 

Credit for a mandate contract or a specific task contract – an offer

Due to the growing number of people working on a mandate contract or a specific task contract, the banks took the initiative to grant loans to such persons. In this way they gained another group of interested ones. There are loan products that are basically granted to people working on similar contracts. These include the possibility of setting up a credit card, obtaining high debit options on your savings and settlement account, or taking a car or cash loan.

The bank always checks if a person is reliable, i.e. how long he has been working in a given company, how much he earns and whether he can afford to pay the debt. The credit history of a given client is always checked – that is, whether he has ever had difficulties repaying his obligations before and whether he has already had a high loan by accident. If you want to take advantage of the payday loans provided by non-bank companies, getting out of debt is much simpler and there is usually no problem. A person’s credit capacity is also checked, but his or her history is not always checked in the Credit Information Bureau. At the moment, however, banks have gone much further and even offer – of course, after meeting many conditions – housing loanspersons working on a commission / work contract. 

Credit for a mandate contract or a specific task contract – rules

For each bank, the most important is business continuity – it guarantees continuity of debt repayment. In a favorable situation, therefore, there are people who, although working under a contract for specific work or commission, have continuous work for a longer period of time. For the bank they are more reliable than others. However, to get a higher loan, the bank must be sure that at least for some time you will still be employed in the place. Very often you need a certificate from your employer that after the current contract has expired, new contracts will be concluded for some time – on better or equal terms. Therefore, sometimes you need to bring a certificate from your employer to the bank, for example that he will want to have an employee in his company for the next year. Sometimes you will also need a salary certificate – for example for the last three months. The loan is granted to people working on a commission or work contract more willingly when their work experience is long. Banks take into account, first of all, the working time in a given place, but also how long a given person has been functioning in the labor market in general.

How do you get a loan for a specific work contract or commission contract?

To take out a loan for a specific work contract or mandate contract, you should look around for the banks that grant them at all. On the internet you can find a list of similar offers – both banks and non-bank companies. Everything can be done online by sending a loan application with all the data. The necessary documents can often be sent via the Internet. However, you can also go to the stationary branch of the selected bank or loan company to get acquainted with your options and the offer addressed to you. Such a visit does not oblige you and there is always time to think and make a decision. Certainly, if you care about time, you should prepare all important documents in advance – account statements (if you do not have an account in the same bank) and a certificate from your employer.