Loans with payroll indefinitely: even for new hires?
Loans with payroll indefinitely are logically those that are much more easily found in the offers of the banks while those intended for those with a fixed-term contract, where present, may have restrictions.
The fact, however, that this leads to a very wide choice, does not mean that it allows to obtain the money necessary in the times or in the amounts requested. Not only if you have a paycheck and a permanent contract, there is never a real certainty that the bank will not want other guarantees, for example.
What to do if you are a new employee?
If you want to apply for loans with pay slips having just entered into a permanent contract you can encounter two series of difficulties depending on the type of loan you want to request:
In the case of the assignment of the fifth, there are minimum times for staying in the workplace that cannot be reconciled with the position of the new employee. These ‘periods’ of minimum seniority are different depending on whether you fall into the category of employees in the public or private sector but they still exist: whether it is 3 months, 6 months (or more) represent an immovable obstacle. Therefore presenting a guarantor the problem is not solved.
If you want or need to request a fifth assignment (for example, because you are not financed with other types of loans, for example as in the case of bad payers) then you must have the patience to wait until the minimum time required.
The subject changes for personal loans and for finalized loans. For both types, the bank or financial company may consider a request for funding also from a new employee who has not yet passed the trial period, logically if specific guarantees are provided. In these cases it is recommended to have a good relationship with the employer, because often a letter may be required in which the employer declares that the probationary period is above all “formal” as there is the intention to maintain the worker in his position.
In addition to this, most likely, the lender will look for additional guarantees. These can be offered through a co-obligor or thanks to the inclusion in the practice of a guarantor.
Relocation: loan simulation.
What to do if you are at the first funding request?
If a person seeks loans with paychecks for an indefinite period, and has never taken advantage of any form of credit, should he have an advantage? Unfortunately it is not so.
Those who have never had access to credit, even with widespread forms such as a credit line or the use of a credit card, have not even acquired their own credit standing. The speech made by the bank or the financial company is simple: ” if I do not know how it behaved in the management of previous credits which it has obtained, how can I attribute a judgment of reliability to it? “
In such situations, even if you have an excellent salary, you may be asked to enter a guarantor or less favorable conditions may apply. In other cases the loan request is taken in charge, but the time for the resolution goes on for a long period.
From the point of view of what has been said, the most practical advice to exploit is to create a credit reputation. For example, it will also be sufficient to request a credit card and use it regularly for a certain amount of time.
Attention : using a card on a regular basis does not mean making all purchases with it, making full use of the ceiling. It means using it properly in relation to your spending power, being absolutely regular in the payment of deadlines. Instead, as far as the “use time” is concerned, it normally takes a few months of use before the positive Crif reports arrive (details: Financing for members of the CRIF ). So the advice is to move ahead: two or three months are likely to be insufficient, given the necessary technical time. From six months to go up the timing is closer to reality. However, it must always be kept in mind that the credit scoring policies of banks and financial institutions are based on internal rules and valuation criteria, so it may happen that for a bank that figure accrued is sufficient to give a good score while for others it could be all inadequate. As an alternative, if you do not want to request a credit card, nor even a credit line, it is advisable to start with a loan request using the channels that allow the pre-assessment. These are services that are still offered by a few banks. Among these, for example, Unicredit with its Creditexpress Easy which represents a pre-assessed loan at a rate set at 6.90% regardless of the amount requested (source Unicredit website – date 10/13/2017).
Another solution is the request for a revolving card, for which account is taken of the annual income but not the presence of other experiences in the field of financing.
How much can I ask?
The maximum sum that can be obtained with a loan does not depend on whether or not you are newly hired (or being involved with a first loan), but mainly on the relationship between the installment to be repaid and the monthly income or salary that you perceives. The only difference between those who have already gained a certain seniority in the job position and those who have not yet reached it is on the percentages of the installment and income ratio that the credit institution will apply. Normally a range is established from a minimum to a maximum percentage. For example, if a bank has a range that ranges from 25% to 35%, the newly hired person who is considered eligible will grant the lowest percentage, which in the example is 25%, while for those who may already have a certain seniority and has already applied for loans with open-ended payroll may also be granted 35% of the example (Attention: the percentages indicated are purely indicative).