If I work informally, give me a loan?
Yeah, give. However, the conditions are not such as to formal employment. Bank or other credit institution with the approval of the application will take on higher risks. The likelihood that you will repay the loan on time, with no stable, official salary below. This is reflected in the interest rate, loan term and other conditions, and not in your favor.
That it will be for the credit?
Getting black salary and not having other stable sources of income, you can count on consumer credit (for example, on vacation, or treatment without a specific purpose, that is purpose loan). Take out a mortgage will not work.
Who will give money?
There are two options: to go to the bank or other credit institutions, such as microfinance.
Contact the bank can independently or through a mortgage broker - a company that acts as an intermediary between you and the bank. Broker himself looks to you to the best deals of banks that approve the application with the highest probability, preparing documents and sends them to the lending institution. For their services the broker usually asks 1-10% of the amount.
The second method is the most unfavorable, and interest - a space (1-2% per day). In this case, the borrower may be required to immediately pay a fee for services in the amount of 10-20% of the cost credit or take out insurance life of a particular company that offers more than the most favorable conditions. But to get such a loan is simple: usually need only a passport.
On what conditions can be expected?
Usually officially employed and officially unemployed in the bank are the same loan programs, but the conditions are different for him. In the second case, the rate of 2-3% higher, and the amount of the loan - less. But there are nuances.
To the credit organization it is important that you have confirmed your source of income. For example, if you do not work officially, but have the property you rent and monthly rent received, bank It regards it as a permanent source of income. In this case, you will be able to obtain a loan on more favorable conditions close to those that offer officially the employed citizens.
Another situation in which the bank will go to meet you - is the provision of software. Best of all - a firm pledge. To obtain a loan under normal conditions, you will need to prove that, if you happen to not be able to pay, the bank is able to usurp your property (such as an apartment, house, car) and thus cover costs. As collateral, you can also attract a guarantor - a person with official stable income sufficient to repay the loan, which will take all the risks themselves.
Giving credit to the unemployed, the bank may require a higher initial payment (approximately 30-50% of the amount), so be ready for it.
What documents are required at registration?
If you can somehow confirm receipt revenue, do it. For example, give the bank a certificate of cash flow on the account or receipt of money from third parties (no matter what is specified in the payment), the account statement for the last couple of months and so Further.
As in other cases, you will need to fill out a questionnaire. Indicate your place of work, even if informal, and the value of the real monthly income. Overstate their income is not necessary: the bank checks the information. If you identify inconsistencies, you are denied credit without explanation.
How will test my ability to pay?
The Bank may act differently.
If the loan amount is large, you will have to check the security service. Her co-worker to find out if the company that you have indicated there as a place of work, on what conditions there are working unofficially and exactly what conditions you have. Such verification may take place over the phone or in person - the security officers often visit the site.
If the loan is small, you will have to check the personal manager who took your documents. He will call with your supervisor, figure out how much you really get, will clarify how much the employer is pleased with you. All this will allow the manager to see whether you will be in the near future to get a stable monthly income of the company and, therefore, time to repay the loan.
If you have a positive credit historyIt will be a plus in both cases. Thus it is better if you have previously taken and successfully repaid loans is that the bank, which now are applying.
Is it profitable to take the credit, if I am not officially employed?
It turns out that there is. By all indications you are losing employees with gray or white salary. The procedure for obtaining credit more difficult, the likelihood of approval of the application below, lower, and the interest rate is higher.
see also
- What are credits and that they can buy →
- 15 Reasons Why can refuse a loan →
- How to get rid of debt on loans →