Banks don’t like it when a customer applies for a loan without a job. Unemployed people are generally rejected. But you don’t necessarily have to have a job to get a loan. There are certainly cases in which a loan without a job is possible. These are listed below.
Self-employed and freelance work
Many people are self-employed or self-employed. Accordingly, you have no job. Nevertheless, they also have the chance to get a loan without a job. However, other standards apply to them. To assess their financial situation, they have to submit income and expenditure accounts, balance sheets (for companies with a certain turnover) and the last income tax assessment. After studying the documents, the bank then decides whether a loan is possible or not.
Other ways to receive monthly payments
It is important to banks that their account receives money regularly. For most account holders, this is wages. However, there are also cases in which the account holder lives solely from rental income. Anyone who owns their own apartment building not only has income, they also have to take care of repairs to the house or in the rental apartments.
A five-digit amount can quickly come together here. That too needs to be financed and if you don’t have that much money on the high edge, you can’t avoid a loan without a job when repairs are due on the house. In this case, the banks do not cause any difficulties, because the house is the best security that a bank can ask for.
Of course, the amount of rental income also plays a role. Even with a regular monthly receipt of money, the banks always check the credit applicant’s creditworthiness. If there are no difficulties, nothing should stand in the way of a loan approval. However, a so-called “Swiss loan” is out of the question, because it is only available for employed workers and not for other employees.