CAREERS CORNER – Why is it hard for freelancers/irregular earners to get access to home & car loans.
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GUEST - Eunice Sibiya - Independent Financial Educator, Coach and Speaker AND Renier Kriek, Managing Director at Sentinel Homes
Access to finance is vital for one to take part in the economy and start accruing assets that translate into wealth over the long term. Those with a regular salary and decent credit record are often able to access credit fairly easily. However, being self-employed, a freelancer or commission earner is a different ball game altogether. Anyone who has a business or earns money from multiple sources without having a full-time position knows how difficult it is to access finance. To some it may even seem impossible to get a home loan.
Access to finance is vital for one to take part in the economy and start accruing assets that translate into wealth over the long term. Those with a regular salary and decent credit record are often able to access credit fairly easily. However, being self-employed, a freelancer or commission earner is a different ball game altogether. Anyone who has a business or earns money from multiple sources without having a full-time position knows how difficult it is to access finance. To some it may even seem impossible to get a home loan.
