Usually to apply for a loan it is necessary to have a demonstrable income to guarantee the lender the monthly repayment of the loan. In the absence of income it becomes more difficult to be able to apply for a loan but not impossible.
Just to satisfy the requests for credit from unemployed, students and housewives, some financial institutions give the possibility to access loans for unemployed by requesting guarantees other than income from work or pension. In this case it will clearly not be possible to request the assignment of the fifth of the pension or the assignment of the fifth of the salary but it will be possible to request micro- loans or personal loans.
Let’s see together what are the types of loan for unemployed and what are the guarantees necessary to obtain them.
What are loans for unemployed
Loans for unemployed are loans dedicated to the unemployed, housewives and unemployed. In order to request them, it is not necessary to have an employment contract or a pension but it is essential to present other guarantees such as:
- Real estate
- Real guarantees
Loan for unemployed with guarantor
In the loan for unemployed with guarantor it is precisely the figure of the guarantor to provide all the necessary guarantees to the lender. The guarantor is usually a relative or friend who, in the event of insolvency by the subscriber of the loan, takes over the repayment of the loan.
In order to take out a loan for unemployed with guarantor it is necessary to present a guarantor in possession of demonstrable income such as a permanent employment contract or a pension to the financial institution. Furthermore, it must not have been reported to databases as a bad payer or protested.
Loans for unemployed with real estate as collateral
Ownership of real estate is considered a good guarantee by financial institutions. In this case it is possible to register a mortgage on the property owned to protect the repayment of the loan or take out a lifetime mortgage loan.
Loans for unemployed with collateral
The loan for unemployed with collateral is an excellent solution for those who do not have a regular employment contract or pension, but who periodically receive income. This is the case of rental properties with a regular contract or investments.
In order to be able to access financing for unemployed people with collateral, it is also possible to take out a loan with a loan or guarantee the repayment, for example, with a life policy stipulated previously.
Loan between individuals
For completeness, we also include the loan between private individuals in the list. We strongly advise you to exclude this type of loan to avoid being scammed, suffering extortion or finding yourself in the hands of users.