The rules for granting mortgage loans are becoming more and more restrictive. Once, it was enough to meet a few basic conditions to get a loan to buy an apartment. Currently, banks require high own contribution from customers. People who do not have a certain financial situation, including pregnant women, suffer the most. Is credit available during pregnancy? We answer!
In an instant, our structured life can turn upside down. Information that a child will be born soon changes everything. From now on, future parents must think not only about their future but above all about the future of their unborn child.
Often, while waiting for the toddler or immediately after his birth, they decide to buy an apartment, and then in most cases, a mortgage is inevitable.
Can I take out a loan during pregnancy or on maternity leave?
The matter is more complicated than it seems at first glance. Although credit is possible during pregnancy, many factors influence the credit decision. Therefore, you can not always get it, and its height can vary.
Some might use the argument that a pregnant woman has a steady income. It is indeed so, but only for a while. When determining creditworthiness, banks check what the financial standing of the client looks like now and visualize what it will look like over the next 3 years.
So, taking a loan on maternity leave, it must be stable enough to be able to conclude that it will not change during this time, and if it changes, it certainly is not for the worse. This is all because, from the banks’ perspective, there is quite a risk that a woman will not return to work after giving birth or maternity leave.
Credit and sick leave during pregnancy – is it possible? It turns out that most banks do not stand in the way of fulfilling the dream of a new apartment for people who are expecting a child. A pregnant woman must, however, attach to the income statement that she is on a long-term (over 30 days) sick leave. You will also need to attach a statement that will state that you will return to work after maternity leave, i.e. you will not take parental leave.
Does a woman on maternity leave have a chance for a cash loan?
Rather, there is no major problem with getting a cash loan when pregnant. A cash loan can only be difficult to obtain if you request a high amount. If you want to get a cash loan for several hundred thousand dollars, you must have good creditworthiness and unqualified credit history – this is the case, however.
A cash loan during pregnancy is possible even if a woman plans to use her maternity leave. And what does the issue of cash loan on maternity leave look like? Just like a pregnancy loan.
The problem only arises when the employment contract ends during maternity leave. According to the law in force in Poland, the employer is obliged to extend the contract until the end of the leave. Unfortunately, in practice, it is so that you can not count on the extension of the contract after its termination.
Bank analysts always take into account the worst-case scenario, which is why women in this situation have to reckon with the fact that their loan application will be rejected.
Is it possible for a woman to obtain a mortgage during pregnancy?
There is a chance for a mortgage during pregnancy. A woman in a blessed state, like everyone applying for a loan, must prove to the bank that she will be able to pay the monthly installments regularly throughout the loan period. Her financial position must, therefore, be stable enough not to raise objections from financial analysts.
Together with the application, she should submit a written declaration of resignation from maternity leave, indicating the date of return to work. If one of the additional attachments is a certificate from a doctor about the date of return to work and from the employer about admission to work after childbirth and the amount of planned remuneration, the chances of a positive credit decision will increase.
What if we want to take a mortgage and we have a sick leave during pregnancy? The situation looks almost the same as for a cash loan. After submitting the relevant statements there is a good chance of a mortgage for l4 in pregnancy.