In practice, we notice that there are many consumers who want to borrow money with benefits. Borrowing money with benefits, however, is not easy. To help you with that, we want to zoom in on this news item about the possibilities of borrowing money with a benefit. In addition, we are happy to answer the questions when a benefit will now and when will not be included. Borrowing money with a benefit may be possible, it is only nice to know the rules in advance.
Which benefits are included?
There are various types of benefits. Only a few benefits are included, fully or not, in the calculation of your borrowing capacity. Borrowing money with a benefit is generally possible when it comes to fixed benefits. You can think of:
- AOW benefit
- Retirement benefits
- Fixed annuity payment
- Disability benefit (provided your date of birth is 1-6-1954)
In addition, there are a number of benefits that are taken into account to a limited extent by the banks. You can think of the WAO benefit or the WaJong benefit. If you were born before 1-6-1954, most banks and financing companies only include 70% of your income in the calculation of your borrowing capacity.
Benefits that are not included
In addition, there are also benefits that are not included in the calculation for a loan. These are benefits that do not offer the bank sufficient certainty because they may change in the (near) future. Or because they are benefits intended to provide for the necessity of life. Examples of this are:
- Assistance benefit
- unemployment benefits
These include the forms of payment that do not provide the bank with sufficient security to provide you with a loan. If you receive such a benefit, it is virtually impossible for you to take out financing. Do you expect financial problems? Then it may be wise to turn to the GKB, the municipality of credit banks. They may be able to help you further.
Why is it difficult to borrow money with benefits?
The answer to this question can be found in providing responsible credit. For example, in the case of social assistance benefits, it is irresponsible to give you an additional financial obligation. Simply gone because a social assistance benefit is intended to provide for the necessity of life, that does not include a loan. In addition, the income is insufficient to provide financing.