Expat mortgage Netherlands
Buying a house in the Netherlands and need for a mortgage? We’re specialists in expat mortgages and can find the best Dutch mortgage for you, hassle-free.
Expat financial advisor
Evening appointments? No problem at all. We understand that you have a busy life. You can call, e-mail, Whatsapp us seven days a week between 8:30 am and 9 pm for financial advice or real estate services for your new house. We can discuss how much you can borrow.
We understand your specific needs and have a good track record. Also we are familiair with the specifics regarding the 30% ruling.
Expat mortgage the Netherlands
As experts in expat mortgages and Dutchmen, we all know that the Dutch property landscape is one of the strangest in the world. Most Dutchmen have a strong desire to own their own home. About 60% of the people posses their own home. Then there is the fiscal phenomenon ‘hypotheekrenteaftrek’ (tax deductible interest).
The mortgage rate operated by the bank depends on:
- The period for which the interest rate is fixed. In this time, how longer the time the rate is fixed the higher the interest rate is. It’s also to choose for a mortgage without a fixed rate;
- The ratio between the value under foreclosure and the amount of the mortgage loan. The interest margin required by the bank to cover the risk increases in keeping with the percentage of that ratio.
During the crisis certain parts of the country are stagnating in terms of pricing, other areas have seen prices fall. There is still a shortage of housing in most of the large cities such as Amsterdam or The Hague. For some people it’s about securing a future place to live whilst prices are stable, for others it’s a good investment or it’s about buying property in a nation where they understand the process and know that a property owner’s rights are strongly upheld by law.
Expat mortgages special solutions
Whatever reasons you may have for considering the purchase of a house in the Netherlands, the good news is that there are mortgage providers willing to offer expats mortgages. The bad news is that many providers don’t even advertise the fact! More good news : we can assist you by obtaining a mortgage.
Expats package deal?
With our expat package deal you get your own personal real estate agent who will guide you smoothly through the process of purchasing a house. We will attend you visiting properties you’re interested in and research the house for the conditions of the house, local development plans and more of that is all correct. Our real estate agent will help you make sure everyone else involved in the transaction is doing their job.
What you get with this package deal:
- Visits property where you want to make a bid for;
- Checks local development plans;
- Checks property condition;
- Checks leasehold;
- Checks environmental issues;
- Checks owners association;
- Conducts negotiations;
- Checks purchase contract conditions;
- Checks the notary deeds and final invoice;
- Accompanies you to the notary.
Personal mortgage advisor
When you want to apply for a mortgage in the Netherlands, we will assist you during this process of a mortgage application. With a personal mortgage advisor, you can get a few things sorted out such as: advice on which mortgage suits your situation best and what sort of insurances you need. But also, a final check if all the paperwork is filled in correctly before heading to the notary. What you get with this package deal:
- Investigate your possibilities in getting a mortgage;
- Compare all mortgage providers on conditions, products and interest rates;
- Advice which mortgage is the best for you;
- Mortgage application at any mortgage lender in the Netherlands;
- Advice and application of a life insurance;
- Application for your monthly tax return in the first year of your mortgage;
- Application of housing insurances;
- Checking notary documents before you sign the owners deed and mortgage deed;
- Guidance with tax application.
The fixed fee for this package deal is € 4.500 and is tax deductible! The rate after tax refund is approximately € 2.273.
Expat mortgage process
If you’re interested in our services, we charge you fixed fees for our services. Our first meeting is always free of charge an can take place at your home or workplace, also in the evening hours. We work independent and nationwide and have offices in Amsterdam, The Hague, Rotterdam and Breda (Zevenbergen). Our real estate agents can assist you by buying property in the Netherlands. You can request for a meeting by sharing your details below, or you may reach us at 0031-168-327702.
We also work indepent from financial providers and our financial advisors provide you personal tailored mortgage advice.
During our first meeting we will ask you to inform us about the following information :
- Contact information;
- Basic details about the property requiring finance including your required mortgage amount and amount of deposit;
- A copy of your passport and a utility bill for your main residence;
- Bank statements of the last three months of the bankaccount where your salary is paid;
- The most recent 3 months’ pay checks, alternatively, an employer’s confirmation of income (werkgeversverklaring) or copies of your accounts from a verifiable accountancy firm if you’re self-employed.
As you can imagine, each application is then assessed on its personal merit, and those who lend to expats are aware that it’s not always straightforward to provide seemingly the most basic of information.
Don’t be put off, there is finance available, and the Dutch property market can make a safe bet when approached in a cautious and calculating manner.
Closing costs buying a house in the Netherlands
What are the costs involved with buying a house in the Netherlands? With this tool you can get an indication of the closing costs of buying a house or apartment.
- We will find you the most appropriate mortgage provider in the market for your mortgage requirements;
- We will present a proposal in a concise and appropriate format to maximise its approval possibilities;
- To use our negotiation skills with the mortgage provider to ensure you receive the best terms available;
- Tax deduction applications;
- LTV (Loan To Value) 100%;
- We provide you all the necessary assistance to purchase, including Dutch tax matters;
- Our fee is tax deductible and in most cases VAT-free;
- Most important: No cure no pay;
- We will accompany you at the appointment with the notary.
How will the mortgage interest in the Netherlands develop in 2018?
Is it wise to extend or adjust your mortgage now, because of the low interest rates? Or is it better to wait?
Will interest rates remain low?
You should benefit as much as possible from low mortgage rates. But how long can you extend your current mortgage and enjoy a low monthly amount? Have you recently bought a house, then you have already benefited considerably from the low mortgage rates. But if your mortgage has been running for ten or twenty years, it is a different story.
How long does this interest rate last?
If we knew it, we would tell you right away of course. Still, we can assume that interest rates will remain low because the European Central Bank runs a stimulation program called QE which provides a lot of money in the economy. This programs quits by the end of 2019. Because the economy is growing considerably, the expectation is that interest will only start to rise from the summer of 2019. The mortgage rates will follow the financial markets.
Actual interest rates (October, 4th 2018)
Finance with National Mortgage Guarantee (in Dutch NHG)
The Dutch National Mortgage Guarantee (NHG) scheme is unique in Europe. It helps you take out a mortgage that is guaranteed by the Dutch government and gives you a interest discount. This discount can be up to 0,5%!
And if you do run into problems meeting your mortgage payments due to circumstances beyond your control, the National Mortgage Guarantee may provide a safety net for you, and your mortgage lender.
When you take out an NHG-backed mortgage, you know for sure that your mortgage matches your income. That’s because your mortgage meets the criteria for responsible lending and borrowing set by the National Institute for Family Finance in the Netherlands (NIBUD). So you know for sure that you’re not borrowing more than you can afford. After making the monthly mortgage payment you’ll still have money left for other expenses like groceries, insurance and your savings account.
Safety net if you can no longer pay your mortgage
If you have an NHG-backed mortgage and can no longer pay your mortgage due to specific circumstances beyond your control, you and your mortgage lender can turn to us for support.
The specific circumstances under which NHG comes into operation are:
- if you lose your job;
- if your relationship ends;
- if you become disabled for work;
- if your partner dies.
The National Mortgage Guarantee is referred to in Dutch as ‘NHG’ or ‘Nationale Hypotheek Garantie’ (NHG). The maximum mortgage with NHG is € 265.000. Other conditions of this program.
Want more information about mortgages or buying a house?
For having an indication of your future mortgage payments please contact us.