Anyone who has found a new job after a short or long period of unemployment has finally solved their biggest problem. Entry into a new company usually begins with a trial period of a few months, but those who do not do too clumsily during this time will be rewarded with a permanent position.
However, should important purchases fall due during the trial period that have to be financed by a loan, consumers quickly reach their limits. Banks usually only rarely grant loans for the replacement of a household appliance or the urgent repair of your own car to consumers who are not in permanent employment.
Permanent job as a criterion for lending
An important criterion when granting a loan is that the potential borrower is able to transfer the repayments due to the bank throughout the agreed loan term – the bank receives the certainty that the consumer is constantly liquid through the permanent position of the applicant. However, if you apply for a loan from the bank during the probationary period, you cannot guarantee that the bank will actually take on a permanent position for you – the bank therefore often lacks the necessary security and is very likely to reject the application.
Second permanent borrower increases the likelihood of lending
However, there is still a possibility for consumers to get a loan from the bank even during the trial period: If the loan application is made together with a consumer who is in permanent employment, the probability of acceptance usually increases significantly. The second borrower is liable with his salary in the same way as the first borrower during the probationary period and therefore also reduces the risk of lending to the bank.
Another way to convince the bank to issue a consumer loan despite the trial period is to provide additional collateral: Consumers who have property or life insurance, for example, should indicate this when applying for a loan, in order to also increase the likelihood that the Bank agrees to the financing request.