Legislators around the world recognize the time immediately after the birth of a child as a special and worth protecting situation. That is why there is so-called maternity protection in Germany. In this situation, the woman can stay at home and take care of the child without fear that her job will be assigned elsewhere.
At almost the same time, however, the financial needs of the young family, which is now one member larger but has to make do with a salary, is also increasing. A loan in spite of maternity protection is usually supposed to help, but it is not easy to get.
The necessary money is missing
In principle, a loan is lacking money in spite of maternity protection, which has a negative impact on the family’s creditworthiness. The mother can return to her job, but by then the family will probably live on the father’s income. Its credit rating drops because the living expenses for the maintenance of the whole family have to be deducted from its income. In the case of a loan despite maternity protection, the situation is presented in the form that what is left of the money afterwards must be sufficient to pay the loan installments.
So a loan is possible despite maternity leave
However, it is not entirely impossible to get such a loan despite maternity leave. Banks react flexibly to this situation because, on the one hand, they are socially required to help families, and on the other, it also makes economic sense. Because the mother has the guaranteed right to return to her job and the economic situation improves again for this reason.
If a bank does not accommodate the loan, another financial institution is guaranteed to do so. Many financial institutions therefore grant a loan, the repayment of which begins only after maternity leave. In this case, it is pretended that the mother is still in wages and bread. So far, this system has proven itself many times, which is why it is offered by almost all banks after a few negotiations.