In a context where the unemployment rate picked up again in the first quarter of 2018 to reach 9.2%, job insecurity appears to be a barrier to access to property. Indeed, it is difficult to convince the banks to finance his project and to make sure when one is unemployed. However, solutions exist.
The borrowing possibilities and conditions required to be well insured vary according to the profile of the borrower: income, family situation, or global wealth are taken into account. Various situations arise.. I am compensated by Pôle Emploi
The situation of precariousness will worry banks, but rest assured, it remains quite possible to borrow in a situation of unemployment.
The ideal is to address your bank at first, because it can analyze your profile on all the last years thanks to a global vision of your inheritance. It will thus tend to trust you more easily for the repayment of your credit.
Side loan insurance, you can easily be insured if you are compensated by Pôle Emploi. All you have to do is provide your banker or insurer with a certificate stating the duration of the compensation you are receiving.
2. I borrow with a co-borrower who has a job
The bank is much less cautious in cases where only one of the co-borrowers is unemployed, which makes access to credit easier.
If one of the co-borrowers is a father / mother or a home or a job seeker, he or she will still have to take out the bank guarantees (DC / PTIA + disability + disability) and therefore pay the mandatory minimum guarantees. whatever his professional situation. Faced with this obligation from banking institutions, some insurance companies ask the borrower to confirm by mail that he has become aware of the fact that he will have to contribute for guarantees, which he will surely never need . Thus, the insurance company protects itself from a possible lack of advice.
You should also know that if you are unemployed, you can choose a lower rate than your spouse in order to benefit from a customized and better balanced guarantee depending on your respective income: for example, the spouse can cover at 70% and you only at 30%. The important thing is to be globally 100% covered: choosing a share according to one’s income remains an advantageous option in the case where the incomes and situations of co-borrowers are unequal.
\\3. I am not compensated by Pôle Emploi
In this case, there are loans available under certain conditions. For example, the PAS Social Accession Loan allows people with access to APLs (Personal Housing Assistants) to borrow. Also note the PTZ + (Zero-Rate Loan +), state-assisted loan, which offers the opportunity to buy your home if you have not owned your main home in the last two years.
On the insurance side, we can see that all the loan insurance companies can not offer you all the guarantees except DC (death of the insured) and PTIA (Total and Irreversible Loss Guarantee of Autonomy). It should also be noted that insurance companies or banks often offer supplementary guarantees (incapacity for work and invalidity) solely related to a professional activity. Of course, you will not be able to benefit if you are unemployed. In this case, it is better to be accompanied by a broker in the choice of his insurance to find a loan insurance better suited to your situation