The Lump sum is easier to meet the conditions for a housing loan in Serbia if it has concluded an “indefinite” contract with a regular client, ie business partner, since when it has received regular monthly income through the account.
This can be a condition of the bank when approving loans for flat-rate taxed entrepreneurs.
On the other hand, if the contract between the lump sum and his business partner is concluded “for a definite period”, the repayment period of the housing loan is harmonized with the term for which the contract on business-technical cooperation was concluded.
“The essence is to determine that the lump sum is not engaged in a one-time project, but that it is a matter of cooperation that will last for a longer period of time,” explains Katarina Ocokoljic, secretary of the Association of Financial Institutions of the Serbian Chamber of Commerce. In addition to the lump sum, the employer is also observed, that is, the partner with whom he cooperates. If, for example, reputable IT companies with many years of experience are involved, then it is necessary for the lump sum agency to exist for at least six months in order to be able to apply for a housing loan.
“If the lump sum, the applicant, works for startups and foreign companies about which the bank does not have enough information, then it usually relies on determining the seniority of the client and the stability of his income in the last two years,” says Ocokoljic.
In those cases, he adds, contracts on previous engagements and turnover in the bank are required for inspection.
Creditworthiness is calculated as with other natural persons, with the proviso that in this case the salary is actually an agreed regular income that is realized on the basis of a contract with the company employer, ie business partner, says Ocokoljić.
Tax solution, contract, turnover …
EACH bank individually determines the conditions for approving loans and interest rates in accordance with its business policy. For the approval of the loan, the advance tax decision, the contract with the client, the turnover on the account for the purpose of identifying the income on the basis of the contract in business cooperation, and others are authoritative.
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