Persons wishing to take out loans must meet certain conditions in accordance with the banking legislation, but it is possible that confusion may arise in specific situations.
As one of these specific situations, it is possible to take out a loan with unemployment pension, what should be considered, what is required to take out a loan, and it will be useful to address derivative issues.
Is credit available with the salary?
In order to benefit from these products, consumers who want to take bank loans must have regular income, find a surety or be able to show collateral. In this context, unemployment benefits, which is one of the social benefits that people who have to leave due to various reasons, may seem like regular income at first glance, but this is not the case.
Before explaining why unemployment benefits can not be withdrawn, it is necessary to briefly mention what unemployment benefits mean. Unemployment benefits are an aid to people who have been dismissed from their jobs or who applied to the state and asked for social benefits after leaving the job for valid reasons. Unemployment benefits can be understood, it is a social aid offered by the state and it is given for the person to continue his life. Therefore, it is not possible for a person living with social assistance to use credit.
How to Get Credit
It is not possible to show unemployment benefits as income to attract credit. Alternatives that can be applied include showing surety, guarantee or mortgage.
If there is an immovable property, consumers who want to take out a loan by giving them a mortgage can take up to 80% of the appraisal value of the related property. This method is the simplest, effective and definitive loan allocation method. In addition, consumers who receive housing mortgage loan also have a cost advantage since they are exempt from various taxes.
There are some conditions that must be met in order to get credit. If these conditions are not met, negative response to high limit loan applications may be obtained or credit allocation may not take place. It is possible to list these conditions as follows:
- Being over the age of 18,
- High credit score,
- Working under the umbrella of social security,
- Having regular income,
- Loan installment payments to be at most half of regular income.