Borrow money with a benefitOn November 9, 2019 by admin
Whether it is possible to borrow money with a benefit depends on the type of benefit. It is important that the benefit is future-proof, meaning that there is certainty about the amount and duration of the benefit. In addition, it is of course also important that sufficient income from the benefit is received to be able to repay the loan.
Borrow money with unemployment benefits
Money Borrowing with unemployment benefits is only possible if the partner has sufficient income to be able to take out the loan. The income of only unemployment benefits is not counted by banks to calculate whether you can take out a loan. The reason for this is that unemployment benefits only have a limited duration and have been maximized as of 1 April 2019 at 24 months. Until that time, a reduction scheme applies.
Borrow money with a WAO or WIA benefit
It is possible to take out a loan with a WAO / WIA benefit. For the loan calculation, Good Finance takes (part of) the income from a WAO / WIA benefit into account if it is an IVA benefit. An IVA benefit means that you have been rejected 80% -100% and therefore cannot work or only work to a limited extent.
Does your partner have a WAO / WIA benefit and you have an income from an employer? In that case too, the income from a WAO / WIA benefit is (partially) included in the loan calculation. Borrowing money with a benefit is therefore clearly possible here.
Money Borrow with social assistance benefit
Money Borrowing with a social assistance benefit is not possible with Good Finance. With a social assistance benefit, there is insufficient borrowing capacity to provide a loan in a responsible manner. A social assistance benefit ensures that the minima can reasonably make ends meet, Good Finance believes that taking out a loan is not appropriate because repayment of the loan is virtually impossible.
Borrow money with an AOW benefit and pension
With reaching retirement age, most Dutch people receive an AOW income. The age that Dutch people are entitled to AOW will be increased in steps and will be 67 years and 3 months per 2022. From 2022 the AOW age will be based on average life expectancy. In addition to an AOW benefit, you may have accrued pension, which is paid out together with your AOW benefit on a monthly basis.
The income that you receive from an AOW benefit and any pension is taken into account for a loan, of course it depends on your housing costs and other expenses whether it is possible to take out a loan. If you take out a loan then the loan must be repaid before your 75th birthday.
As you can see, borrowing money with a benefit is possible, but is highly dependent on the type of benefit. You can apply for a loan by completing the application form and sending it to us. We will then immediately look at what your options are and which offer we can offer you.
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