Obtaining a home loan necessarily requires a worker in the public service to have a permanent status, that is to say a status holder or possibly trainee. While some banks may consider a civil servant as a permanent contract, this trend seems to have diminished for several years.
Get a mortgage with a civil servant
The status of civil servant is preferred to banking institutions, it is often a status that reassures and benefits from job security, a sufficient guarantee to reassure banks on their loans. Simply, it does not mean that an official will always win, especially if he wants to borrow as part of a real estate project and he has only a fixed-term contract. Admittedly, hiring rates in the public service have often been higher than the private sector, but this trend seems to be fading away as the public service is increasingly using fixed-term contracts, some of which do not lead to a fixed-line position. .
The alternative of the co-borrower
It is therefore increasingly difficult to obtain a real estate loan with a fixed-term contract, unless the borrower has a co-borrower who can provide a sufficient guarantee with a CDI-type contract. When the civil servant on fixed-term contract is accompanied by a permanent contract, it can even be assimilated to a permanent contract according to the number of years performed under fixed-term contracts. Some professions in the public service must complete several years of fixed-term contracts before they can sign their permanent contract. Attention: the concept of contract is one of the elements studied during the request for financing, it is of course that the file is validated with the other elements like the rate of indebtedness, the rest to live or the capacity of loan. The presence of a long-term contract in a financing file does not assure him 100% of obtaining the credit.
What solutions for a civil servant on fixed term?
The first solution is obviously to solicit a mortgage with a co-borrower and this is the only way to obtain financing in the context of a mortgage, this is only for couples and whose the partner benefits from a long-term employment contract. The other alternative is to wait for the transition to a permanent contract or permanent contract in the civil service. Banks will not commit to lend money to borrowers without a guaranteed income in the coming years, especially if the loan runs for 20, 25 or even 30 years. It is therefore necessary to wait for a regularization of his employment contract to undertake real estate projects.
Simulate and compare loan offers
For borrowers on fixed-term contracts with a co-borrower or with a CDI, it is possible to establish a mortgage application through the comparator which will allow to request credit institutions that can respond favorably to the request for financing. This comparator makes it possible to receive several offers of home loans, to compare them and to select the best, whether in terms of rate, duration or monthly payment.