Categorie: mortgage


buying house with friendsBuying a house with your friends and applying for a mortgage in the Netherlands, how does it work?

How exciting is it to buy a house with your best friend(s)? In times like these, in which the housing market has completely dried up, it can be a good idea to buy a home together with your friends instead of renting a house. Our experience is that it is increasingly common for friends or befriended couples to buy a house, villa or residential farmhouse together.

Buying a house together enables you to add up your wages and the result is that you can look in a different (and less competitive) price range when looking for a house. It is also possible to split up the property in the future and end up with separate houses which can be sold by itself when needed. The splitting of property is especially relevant in the larger cities where it is common to split up monumental houses and we have the expertise to help you with this process.

Furthermore, we frequently help befriended couples with the purchase of a residential farmhouse. This type of house is also very suitable for dual occupancy and dividing the property in the future.

What is the maximum limit of co-owners?

There is a limit of four co-owners when you purchase a house and it is possible to add up all wages. However, in the mortgage application the first earnings count for 100% and the second earnings for 90%. Starting 2023 the second earnings will also count for 100%. Not every bank is eager to supply a mortgage but luckily we have experienced advisers who can help you out. We know the rules and regulations of the bank and are able to inform you about the available options.

We help both friends as well as befriended couples who wish to buy a house together.

Buying a house together

As discussed earlier the upside of co-ownership is that all earnings can be included in the mortgage application. The total amount of the loan depends on the policy of the bank. Not every bank permits a construction of a co-ownership of more than two people.

What options are available in a co-ownership?

There are a few options available and the first option is that each person (or couple) has a stake of 50%. The alternative is partial rent: one person buys the entirety of the house and the other person rents a room. However, this does not fit into the policy of most traditional bank loans. There are often additional rules and restrictions in place regarding the maximum amount of the loan or in some cases a penalty in the shape of a raised interest rate.

Managing expectations when buying a house and making arrangements

Every (co-)owner and mortgagor is responsible for paying back the mortgage. This is what we call joint and several liabilities and the bank can address every person mentioned on the deed of mortgage. It is recommended to make arrangements in case of unexpected circumstances and a notary can help you organize this in an official document. Examples of (unexpected) circumstances or life events:

• Unemployment or incapacity (when you cannot work at all or in part due to sickness or disability);
• A divorce or end of a relationship;
• Plans to move;
• Mutual arguments;
• An addition to the family / having children;
• A new partner.

It might not be comfortable to discuss these topics in detail with your friends but it is very important to manage expectations in case of the aforementioned life events. You can prevent a lot of trouble in the future when you have a notary prepare an official document. For example, you can include that the first right of purchasing a house (after a breakup or divorce) passes to the remaining co-owners and you can make arrangements regarding the home evaluation.

If you are going to buy a house together with your friends you will also have to keep in mind that there are additional costs you have to pay to acquire the house (taxes, financial/mortgage advice, the services of the notary, etc.).

Another example of arrangements you can make are in regard of the minimal amount of time you have to live together. If one of you decides to move out rather quickly you could be stuck with a residual debt. To counter this you could document a mandatory time of living together for 5 years. After this period of time a fair part of the mortgage will be paid for and hopefully the value of the house has increased. This will soften the blow financially when you have to sell the house in case of an unexpected circumstance happening.

Room for individual choices in the structure of the mortgage
It is possible to cater to everyone’s specific wishes and situation and divide the mortgage into different parts. Each part allows for a different fixed interest period or mortgage form (for example annuity, linear or installment-free interest-only payment). Furthermore, dividing the mortgage into different parts also allows every buyer to retain their right to mortgage interest deduction.

In the future, when selling the house for example, the splitting of the mortgage also makes it easier to see what everyone’s share has been in repaying the mortgage. On top of that, if one of the co-owners wishes to make an additional repayment it will also be easier to document.

Another possibility is to the divide the mortgage and let it correspond with the co-ownership stakes when they are different from the usual ratio of 50/50. In short, there are lot of solutions tailored to your personal situation. Buying a house together with friends is possible and something we can recommend.

Owner carry agreement

During the mortgage consultation we will also discuss the possibility of drawing up an owner carry agreement. In this document it is possible to register individual tax and mortgage parts. The agreement is an extra document in addition to the mortgage.

An owner carry agreement is especially useful when you have a different starting point from the other (future) co-owners, for example: some people already have (had) a mortgage, contribute more savings buying a house or have different assets. In that case we can help you make the right choices and supervise the contact with the notary of your choice. This is also a very important part of the process of buying a house together and will be discussed in detail during the consultation.

Benefits of purchasing a house together with your friends

In summary there are the following advantages to buying a property with your friends:
• You can stack your income and assets which makes it possible to look for a house at the higher end (price range) of the housing market.
• Paying for a rental property on your own can be very expensive. When you have co-ownership of a house you can split the costs with your friends.
• A lot of people find it more enjoyable to be at home together in the evenings and spend time quality time together.

The downside of purchasing a house with your friends

Needless to say there are downsides to buying a house together:
• The tax-laws and bank will see you as partners which means you have insight in each other’s finances such as current loans, income and differences in assets.
• To prevent iniquity it is important to set up house rules. Who uses what in the house and how will you distribute housework? Irritation and arguments can be avoided by making the right arrangements.
• Earlier we discussed joint and several liability. In case of unemployment the others will be involved as well. The bank expects you to pay back the mortgage monthly and when you miss a payment every co-owner is responsible.

Dividing the property

As soon as you sign the purchase agreement you have to think of and make arrangements for dividing the property legally. As we discussed earlier this is not mandatory but it can help prevent issues from occurring in the future. As it happens, it cannot be ruled out that one of the co-owners decides to move out of the house. Another important thing to keep in mind is that not every house can be divided and the municipality has to consent first.

Sometimes it is also possible to finance a renovation if the house after rebuilding is fit for dual occupancy. This makes it possible to buy and live in a house before any formal division of the property.

We helped a lot of clients with the wish to buy a large townhouse or a residential farm and supervised the dividing of the property and the registration in the land registry. As we mentioned earlier, splitting the house beforehand makes it less stressful when one of the co-owners wants to move on and out. After all, they can sell their part of the property without having discussions about the worth of the property.

Selling your current house

It is possible to appeal to the surplus value of the house(s) of you and your friends and use them when buying a new property.

Intended use of the (new) property

It is not uncommon to want to buy a residential farmhouse together with your friends. These type of houses are suitable for large families, especially when you consider the size of the house and land. However, a downside of a residential farmhouse is the registered use of the property with the municipality. A lot of these houses are registered for (partially) agricultural use. We have more than sufficient experience with this type of house and this does not have to be a problem either.

Buying a second home with your friends

There are possibilities to finance a holiday or second home. Starting 2023 the property transfer taxes of a holiday or second home are raised to 10,4% of the purchase price. Keep in mind that the purchase costs of acquiring ownership of the house are a lot higher in that case.

Taxes

We also have the expertise to help you with matters regarding taxes, for example when you want to know in what cases you are (not) entitled to interest reduction.

What can we offer you?

We can offer you a swift insight (“quickscan”) into the possibilities of financing your plans. We can help you with applying for a mortgage, work nationwide and we have years of extensive experience in this area and subject. On top of that we have a large network of specialists at our disposal.

Specifically, we can offer you the following services when buying a house together with your friends or family:

• Schedule a technical (building) inspection;
• As well as a home valuation report according to the rules and regulations of the bank;
• Advice about changing the intended use of the property and/or dividing the property;
• Financial advice and applying for a mortgage to make the purchase of the house a possibility;
• Insurance advice on insuring the property (and other non-life insurances);
• Guidance in the process of buying the house and negotiation;
• We offer our services under the principle of “no cure no pay”;
• If you wish to purchase a house together with family we can help you applying for a mortgage suitable for intergenerational homes.

Are you thinking of purchasing a house together with your friend(s)?

Get in touch and we will set up an online introductory meeting in no time. It is also possible to schedule a meeting in the evening!

    Hassle free all the way.
    We deal with banks on your behalf, all the way through until 100% completion.
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    Best services are guaranteed for you.
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    Often sooner.

     

    mortgage application declinedJust bought your dream house in the Netherlands and now your mortgage application is declined? What is the next step to turn this rejection into approval? Read this article to understand why your application is rejected and what you can do to increase your chance of getting your mortgage application approved.

    No problem, we have good experiences with arranging a mortgage. Based on a second opinion, we can quickly inform you about the possibilities.

    Why has your mortgage application been rejected?

    It is good to know the reason for rejection. It sounds strange, but often this information is relevant to the right solution. A ground for rejection at one bank need not necessarily be the same at other banks. And to make it sound stranger; Sometimes we receive approval on the mortgage application from the same lender where you received a rejection.

    It is also good to know that we are not afraid of a special or difficult situation. However, you must realize that the rejection in a mortgage application often comes at a (too) late time in the application process. Stress and consultation with the seller, if you buy a house, are therefore inevitable our experience.

    This allows us to unburden you when we see opportunities for a positive mortgage application. If it has to be done quickly you can take a so-called emergency mortgage advice. Then there is clarity about the feasibility within 1 working day. We understand that you want to be clear as quickly as possible, also because you have made agreements with the seller. This uncertainty can also cause them concern.

    Client review 19-08-2022
    We had various issues with another advisor company who couldn’t seem to provide any support to some of the challenges we were facing and then almost willing to give up, we found Frank and stepped over to him. Throughout the process, he managed to arrange everything for us in a very short and stressful period of time and gave us some peace of mind. He helped us with every document and answered every single question we had. As first time buyers we were not aware of much about the process but Frank walked us through each step. We are so appreciative and highly recommend Cournot ! Read the entire review on Advieskeuze
    Client review 13-04-2022
    I cannot express enough our gratitude for the professional way Ferdinand and the team (Kelsey, Caroline) have helped us in the last hour of being so close of losing the house we placed a bid for. Ferdinand reacted very quickly on our request for help, was patient to listen to our situation, provided professional and clear advice that gave us finally (after long weeks following an unprofessional advice from another advisor) a sense of calm and clarity. You can see at all times on your online case what documents there are needed, therefore communication was very important to us, which Ferdinand and the team have delivered more than we have hoped for. Within no time, we got our credit approved and continue to be properly guided in the next steps thereafter. I will continue to recommend Cournot services at any time and to anyone I come in contact with. Happy that our collaboration does not stop here after the credit is approved, as Cournot will continue to be our advisors for any bank related topics. Thank you again Ferdinand & team!!!| Read the entire review on Advieskeuze
    Client review 02-02-2022
    My first mortgage for 100% LTV, with multiple advisors, was rejected due to lack of strong financial evidence in the paper work. With just two weeks left to contractually inform the seller about the outcome of mortgage, I was left clueless and shattered about possibly losing a home and was possibly staring at square 1. After a desperate search on google, I stumbled across the website of Cournot Advisors. As a hopeless attempt, I dropped a message in the contact form at around 7pm on on 17-January and Ferdinand mailed me on the same day for basic documents check. Fast forward to 26-Jan that also includes a weekend, my mortgage was approved and I also received a discount on interest! Thanks to the tenacity and professionalism of Ferdinand and Kelsey, the whole process went like a breeze and was super swift, given the tight situation. I cannot thank Ferdinand and Kelsey enough for unparalleled service, you have opened up new possibilities for me—as an expat. I would highly recommend Cournot not only for complex cases, but also for the “usuals” if your are looking for a mortgage Expert and for a simply great experience with securing mortgage. Looking forward to be a home owner, thanks!| Read the entire review on Advieskeuze
    Client review
    Excellent, quick and efficient service, very knowledgable. They were available to answer all questions and got us a very good rate. | Read the entire review on Advieskeuze

    Reasons why a bank declines your mortgage application

    In the list below you can find a number of reasons why the lender of your first choice has rejected the mortgage application:

    1. You have a poor credit history and BKR coding, in the Netherlands, this is monitored by the BKR organization.
    2. The valuation of your house is lower than your purchase price;
    3. Your income is not in Euro;
    4. The residence permit does not qualify.

    Mortgage rejected at the last minute

    In practice, we regularly see that the rejection of your mortgage application is announced at the last minute. Then the financing reservation has almost expired and you are standing with your back to the wall. Then you need to get started quickly in order to get an assignment from another lender.

    You can also consult us if you still have to work at the last minute for a mortgage application.

    A piece of cake for bleeding is that you already have a complete set of documents required for the mortgage application in this phase. Because of our experience, we can quickly oversee your case and provide you with the correct mortgage advice.

    Tell us your story

    For applying for a mortgage scan please contact us. Mortgage application declined in the Netherlands, contact us for a free second opinion.

      Hassle free all the way.
      We deal with banks on your behalf, all the way through until 100% completion.
      Expert advice you can trust.
      Best services are guaranteed for you.
      Response within 24 hours
      Often sooner.

      mortgage takeover after divorceMortgage takeover after divorce – How does it work?

      Divorce ensures that many things need to be arranged. Especially when you own a house together. This house is often also charged with a mortgage. First, agreements must be made about the plans for the house. Are you staying in the house and buying out your ex-partner or vice versa? Or you decide together to sell the property and repay the mortgage.

      At the moment that you or your partner solely own the house and you are not married in community of property, the house does not have to be divided. If you have made prenuptial agreements then special arrangements can be made regarding the mortgage and the home.

      Mortgage takeover after divorce

      This sounds easier than done. There is a lot to look at before a mortgage can be taken over or be transferred to one name. It is also possible that a new partner wants to sign into the mortgage deed. This is then called ‘jointly binding’.

      For example, you first need to make agreements and secure them in a divorce agreement. The mortgage provider can assess your application on the basis of this document, among other things.

      Until the mortgage has been taken over or a new mortgage is contracted, you and your partner remain jointly liable for the mortgage. You both remain liable for the mortgage provider or bank if the monthly payments are no longer paid. It does not matter whether you are still living in the house. The relocated partner who still appears in the mortgage agreement remains liable.

      Home acquisition debt and divorce

      Are you both owner of the house and have you taken out a mortgage for the house then you also have each right to half of the so-called home acquisition debt. This is a fiscal concept. This is the amount of the mortgage on which you may deduct mortgage interest if you meet the conditions.

      This home acquisition debt is personal and not transferable. Why this is relevant we will try to clarify with an example.

      Karin and Adam together bought a home in 2004 with a mortgage and home acquisition debt of € 250,000. This mortgage is fully redemption-free. Karin would like to take over the home and mortgage. For the sake of convenience, we make the assumption that there is no surplus value. Karin is allowed to continue part of the redemption allowance. They may only have a 50% interest-only mortgage and for the other 50% they must choose an annuity mortgage or a linear mortgage.

      The reason for this is that on 1 January 2013 the loan rules for mortgages have been tightened up. This was part of a package of government cuts. New buyers must do as much as possible on repaying a mortgage and also pay it off on the basis of minimal annuities. Since Karin ‘buys’ a part of the house in the example, she also has to deal with these new loan rules. That is if she wishes to qualify for the interest deduction.

      Your bank does not agree with taking over the mortgage

      If you rely on this outcome, you should sell the property or, together with your former partner, decide to leave the situation as it is. Better you can try to make these agreements during the separation procedure. After all, these scenarios can be foreseen or conceived and then it is clear to everyone what the final agreements are.

      When you or your ex-partner remain in the mortgage deed, this may cause problems when buying the next home or applying for a loan. You will also remain responsible and severally liable for repayment of this mortgage in such a situation.

      Do you want a second opinion from another lender, we can help you with that. Then make an appointment or call us directly.

      What documents are needed to take over the mortgage after my divorce?

      If you choose to take over the existing mortgage, an extensive set of documents is required. In most cases, the divorce creates a tighter disposable income. This has an effect on the maximum mortgage. In order to have a good chance to take over the existing mortgage, it is important that you think about the affordability of your expenses yourself.

      To give this hand and foot, you can draw up personal budget advice on the Nibud website. This gives you a good impression of the actual expenses and disposable income.

      The following documents are often necessary to collect:

      • Divorce Agreement;
      • Agreements concerning the distribution of assets linked to the mortgage;
      • Annual statement and/or employer’s declaration of income;
      • Statement and quotation of the current mortgage.

      Take over a mortgage with NHG after divorce

      If you have taken out a mortgage with a National Mortgage Guarantee at the time, specific rules apply.

      The attached process card shows the procedure for converting your mortgage with NHG into a single name or when the sale of the property is the order.

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      For having an indication of your future mortgage payments please contact us.

        bkr coding mortgageIs your mortgage application declined because of a BKR coding? First of all: don’t panic. We can help you increase your chances for a mortgage application. Most of the time this rejection comes at a really inconvenient moment. Especially when you are in the process of buying a house.

        What is BKR?

        If you have obtained for credit or a mortgage, the information is registered with BKR. At that moment the loan provider keeps the database from BKR updated with your payment behavior. You will be coded if you have caught up overdue payments for a number of months. Each credit type has a different period. For example, for mortgages, this period is 3 months.

        If you have caught up overdue payments, a rehabilitation code will be noted in your BKR overview. This is called a “herstelmelding” (rehabilitation). This information will remain visible for a period of 5 years after the contract ends.

        Mortgage declined because of a BKR code

        A lot of mortgage providers decline a mortgage application if you have a BKR-code. Also, some lenders prefer to lend to a specific demographic. As independent mortgage advisers, we have experience of the market and can help you obtain a mortgage. We will be aware of what different lenders require before offering you a mortgage, and we will speak to the lender on your behalf.

        We can make a scan about the possibilities of obtaining for a mortgage if you provide us information regarding your income and the property you want to buy.

        Administration errors BKR coding

        Lenders aren’t perfect. Some of them put the details from your application into a computer so you might have failed because of a mistake or error on your BKR-file. If you want to know what is registered you can easily download your BKR-file. For a mortgage application, we also need a copy of this BKR report.

        Each mortgage application is logged in your BKR-file. Repeatedly applying for a mortgage makes it look like you have problems, so try to avoid this situation. We prepare your mortgage application and will search for a solution.

        When is it possible to apply for a mortgage?

        If you have a BKR-code it is necessary that you meet the following standards:

        • there is a rehabilitation code (H-erstelcode) visible on your BKR overview;
        • the loan has an end date;
        • your current situation is stable and steady.

        Have a question?

        For applying for a mortgage scan please contact us.

          Hassle free all the way.
          We deal with banks on your behalf, all the way through until 100% completion.
          Expert advice you can trust.
          Best services are guaranteed for you.
          Response within 24 hours
          Often sooner.

           

          mortgage advice the hagueBook a free 60 minutes consultation

          Our dedicated mortgage advisors in The Hague can help you make sure you never pay more than you need to for your mortgage.

          Buying a house for the first time in The Hague as an expat

          With help from our office, we can make the complete mortgage process as clear and uncomplicated as possible. Buying your first home in The Hague as an expat can be a very exciting time, but there is also a lot to learn. Our financial advice covers a wide range of tips and guidance for first time buyers; such as how to save for your mortgage.

          Our office specializes in independent mortgage and insurance advice. We offer a comprehensive range of mortgage products from across the market and provide services for expats for buying a house for affordable fixed fees:

          What can you expect from our mortgage services?  

          We are committed to providing an excellent level of service. Many of our clients come from abroad. Recommendations to friends, family and colleagues and can be anywhere in The Hague. We work nationwide and therefore we provide mortgage advice over the phone, by e-mail or in person.

          It is also possible to have some kind of pre-approval if you are house hunting and already have the necessary documents handy.

          Experience of Lin with our mortgage and buying serice
          The advisor is very professional and very efficient. We have met 3 agents before him and we’re not so happy about them, a friend of ours recommended him to us. Since then it has been a very pleasant and smooth journey. He is also very proactive in helping us to find a good house. In the end, it saved us money and time. Highly recommended. | Read the review on Advieskeuze.nl
          Experience of a client
          Excellent, quick and efficient service, very knowledgable. They were available to answer all questions, and got us a very good rate. | Read the review on Advieskeuze.nl

          How to save time in the mortgage process?

          To get a head-start in buying your house you can gather all your documents. If you have most of the necessary documents complete it will save yourself a great amount of time.

          The documents you need to collect will detail the following points :

          • Information about your earnings (copy salary slip and employer’s statement);
          • Copy of your passport and residence card;
          • Information about your debt and assets;
          • Homeownership history in the Netherlands.

          Independent mortgage advice

          First of all you can expect independent and honest mortgage advise from us. This, more concretely, means that we have access to almost all mortgage lenders active in the Netherlands. We also have a partnership with foreign mortgage lenders. Besides, you have a legislator on your side who protects you.

          Namely, we are required to have a license and there is an independent financial supervisor.

          You can prepare the meeting with our mortgage advisors by calling in your employer’s statement.

          Need mortgage advice in The Hague? We are glad to assist you!

          Want to live in the wonderful famous Dutch city of The Hague? Not surprising of course, because there is so much to see and do in The Hague. For instance the impressive Rijksmuseum or the beautiful canals. Perhaps you need to adjust to the overwhelming presence of bikes!

          Are you looking for a home to buy in this bright city, or have you already signed a contract for a house and do you need mortgage advice? We are happy to serve you with specialized mortgage advice.

          Our highly educated mortgage advisors will give you more than appropriate mortgage advice in The Hague. We love The Hague as well. Book an initial, free of charge, telephone consultation with one of our mortgage advisors right now!

          The housing market in The Hague

          The housing market is going through extraordinary times in The Hague. A house with a garden is becoming scarce and the prices are going through the roof. Without guidance is it very hard to get hold of a house in the capital city of the Netherlands.

          The Hague, with its beautiful Binnenhof and beach of Scheveningen, has a lasting appeal on a large group of people. Expats often choose to live in The Hague compared to other cities because of its favorable establishment environment.

          There are some typical characteristics worth noticing in the housing market of The Hague:

          • Some of the ground belongs to the municipality and you have it on a long lease. In short, this means you pay a reimbursement to the local authorities;
          • A lot of the apartments have an owners’ association;
          • There is a unique mannerism to bid on a house in The Hague.

          Mortgage advice on making an offer with or without ‘subject to finance’ in The Hague

          Any person currently looking for a home to buy in The Hague knows that offers are frequently made without a resolutive condition. Also known as a finance clause. This clause gives you time to organize a mortgage for your new house.

          Making an offer without this condition can cause a big risk. Because what happens if the bank refuses your mortgage application?

          As this happens, you may then have to pay 10% of the purchase price as a penalty and the real cost of damage. Are you willing to take this risk? We can explain to you alternative solutions to have the best bid and buying without this expensive risk.

          Also, we can help you with have a sort of pre-approval mortgage application.

          Code of conduct for mortgage loans

          Lending institutions such as banks and other mortgage providers are bound by a code of conduct in relation to mortgages. In Dutch this code of conduct is known as Gedragscode Hypothecaire Financiering. The current version of the governments Code of Conduct for mortgage loans came into effect in 2011.  The code of conduct applies to mortgages on primary residences only.

          Should I keep renting or buy a property in the Netherlands?

          In the five years following on the end of the financial crisis, property prices in the Netherlands plummeted more than fifteen percent and left many homebuyers with mortgages that exceeded the value of their Dutch property. However, the Dutch housing market upswing that started mid-2013 is predicted to continue through 2018, as the Dutch economy and consumer confidence improve and interest rates remain at a historical low point.

          These conditions have turned the Dutch housing market into a buyer’s market – particularly for first-time homebuyers – and increased local and foreign investment is pushing property prices back up again.

          In contrast, rental prices remained relatively stable over the same period, and are showing significant growth as the economy recovers; in 2015, for example, housing experts said rental prices doubled in the main cities of Amsterdam, The Hague, Utrecht, Rotterdam, and Groningen.

          Rental housing platform Pararius recorded the average rental price in the Netherlands in 2016 at around € 1,365 a month but in Amsterdam, the average was € 2,200 per month, while in Rotterdam the average was around € 1,200 and in The Hague € 1,500. One main cause is the short rental supply in the private sector, which accounts for only some 5 percent of total housing stock, with the remaining rental stock classified under the social housing sector, which has long waiting lists and restricted to those on high salaries. Read more about renting in the Netherlands.

          In comparison, as a result of low interest rates, in some cases, it is possible to secure a mortgage lower than the average rental prices. However, costs associated with buying property in the Netherlands total around 4-5 percent of the purchase price, thus buying Dutch property is more suitable for long-term investments, at least a minimum of five years. Based on the current price increase on the Dutch housing market it goes faster.

          Can I get a mortgage in the Netherlands?

          Of course! There are no legal restrictions for non-Dutch citizens buying Dutch property or applying for a Dutch mortgage. However, if you are relatively new to a job or area, self-employed, on a low income or of a non-EU nationality, these may result in stricter lending criteria and can become a bumpy road. This can result in a lower maximum Loan To Value (LTV). This is the ratio between the value of the house and the mortgage expressed in a percentage.

          Each bank has different requirements, but in general, if you are from a country within the EU it helps a lot to apply for a mortgage. They will probably expect you to have a valid passport, have lived in the Netherlands for at least six months, have a citizen service number (BSN) and have permanent employment in the Netherlands.

          It also depends on the status of your residence card. We can inform you during a personal meeting about the possibilities.

          You may need to pay a deposit and be limited to a maximum mortgage of 90 percent of the property value, although the Dutch bank does allow mortgages of the full value of a property.

          Regardless of nationality, if you are employed you will need to show proof of income and a statement from your employer (werkgeversverklaring) with details of your contract and salary. Temporary workers and university researchers/Ph.D. students will need statements from their employers/universities confirming their position. Self-employed people need to supply the last three years’ income tax returns and accounts.

          As from 1 January 2013 the rules for mortgage loans are changed

          If you live in a house that you own, you have an owner-occupied home. If you are a qualifying non-resident taxpayer, you may deduct the interest on your mortgage or loan for this house.

          Did you buy an owner-occupied home after 1 January 2013? Or did you increase your mortgage or loan after 1 January 2013? Or is your mortgage or loan higher now than in 2012, because you bought a more expensive house? In that case, you will be dealing with new rules for the deduction of your (mortgage) interest.

          On 1 January 2013, the rules on the deduction of interest on the home acquisition debt (mortgage interest deduction) were changed. For any new loans, you may only deduct the interest if you repay the loan in monthly installments. If you already had a home acquisition debt before 1 January 2013, you may continue deducting the interest on this debt and you are not obliged to repay.

          When are you obliged to repay?

          In order to be allowed to deduct the interest, you are obliged to repay the loan in the following situations:

          • You take out a mortgage or loan for the first time;
          • You increase your existing mortgage or loan, for example for a refurbishment;
          • If you already had a home acquisition debt on 31 December 2012, the repayment obligation will only apply to the additional amount you borrow;
          • You must repay the loan on an annuity basis or by equal amounts in no more than 360 months (30 years). In both cases, you will pay a fixed monthly amount consisting of interest and repayment. You are entitled to interest deduction in both cases.

          Why use a mortgage advisor? – Pros & Cons

          As a go-between for borrowers and lenders, mortgage advisors can be very useful if you aren’t confident in your understanding of finance or mortgaging. Hiring an advisor can be an excellent way of finding the best value home loan given your personal circumstances – just make sure you select your advisor carefully!

          For some people, using a mortgage advisor can be a great move for your financial situation, but carefully consider the pros and cons and check that the advisor you choose has the qualifications and experience necessary to find you the best product they can.

          Pros of using a mortgage advisor

          • A mortgage advisor can potentially be an invaluable resource for those with a poor understanding of the finance and mortgage industry or their own financial affairs;
          • An advisor may be able to find you a mortgage that’s better for your individual situation and affairs;
          • If you don’t have the time to do the extensive research required to properly assess the variety of home loan products available to you, a mortgage advisor can do this for you (within the panel of products they sell).

          Cons of using a mortgage advisor

          • Mortgage advisors with a small product range of lenders are not wise to choose. This may not  give you a fair idea of the range of products that are suitable for you;
          • Educational qualifications and industry experience can differ widely between advisors, so make sure to inquire about this before you engage the services of any mortgage advisor.
          Response within 24 hours.
          Often sooner.
          We work nationwide
          Visit at home free of charge.
          All your information is 100% safe and secure.
          We care about your privacy.

          For having an indication of your future mortgage payments please contact us.

            Video ABN Amro expat desk

            Current mortgage rates

             

            Our mortgage advisors in Eindhoven can help you find the best mortgage solution and make sure you never pay more than you need to for your mortgage. Mortgage advice Eindhoven for your future home and hassle free!

            Buying a house for the first tmortgage advice eindhovenime in Eindhoven as an expat

            With help from our office, we can make the complete mortgage process as clear and uncomplicated as possible. Buying your first home in Eindhoven or the Netherlands can be a very exciting time, but there is also a lot to learn. Our financial advice covers a wide range of tips and guidance for first time buyers; such as how to save for your mortgage.

            Our firm specializes in independent mortgage and insurance advice. We offer a comprehensive range of mortgage products from across the market and provide services for expats for buying a house for affordable fixed fees:

            What can you expect from our mortgage services?  

            We are committed to provide an excellent level of service. Many of our clients come from abroad. Recommendations to friends, family and colleagues and can be anywhere in Eindhoven. We work nationwide and therefore we provide mortgage advice over the phone, by e-mail or in person.

            Experience of Lin with our mortgage and buying serice
            The advisor is very professional and very efficient. We have met 3 agents before him and we’re not so happy about them, a friend of ours recommended him to us. Since then it has been a very pleasant and smooth journey. He is also very proactive in helping us to find a good house. In the end, it saved us money and time. Highly recommended. | Read the review on Advieskeuze.nl
            Experience of a client
            Excellent, quick and efficient service, very knowledgable. They were available to answer all questions, and got us a very good rate. | Read the review on Advieskeuze.nl

            Independent mortgage advice

            First of all you can expect independent and honest mortgage advise from us. This, more concretely, means that we have access to almost all mortgage lenders active in the Netherlands. We also have a partnership with foreign mortgage lenders. Besides, you have a legislator on your side who protects you.

            Namely, we are required to have a license and there is an independent financial supervisor.

            You can prepare the meeting with our mortgage advisors by calling in your employer’s statement.

            The housing market in Eindhoven

            The housing market is going through extraordinary times in Eindhoven. A house with a garden is becoming scarce and the prices are going through the roof. Without guidance is it very hard to get hold of a house in the capital city of the Netherlands.

            Eindhoven, with it is industrial heritage, has a lasting appeal on a large group of people. Expats often choose to live in Eindhoven compared to other cities because of its favorable establishment environment. Also, Eindhoven is called the Silicon Valley of the Netherlands.

            There are some typical characteristics worth noticing in the housing market of Eindhoven:

            • A lot of the apartments have an owners’ association.
            • There is a unique mannerism to bid on a house in Eindhoven.

            Should I keep renting or buy a property in the Eindhoven area?

            In the five years following on the end of the financial crisis, property prices in the Netherlands plummeted more than fifteen percent and left many homebuyers with mortgages that exceeded the value of their Dutch property. However, the Dutch housing market upswing that started mid-2013 is predicted to continue through 2018, as the Dutch economy and consumer confidence improve and interest rates remain at a historical low point.

            These conditions have turned the Dutch housing market into a buyer’s market – particularly for first-time homebuyers – and increased local and foreign investment is pushing property prices back up again.

            In contrast, rental prices remained relatively stable over the same period, and are showing significant growth as the economy recovers; in 2015, for example, housing experts said rental prices doubled in the main cities of Eindhoven, The Hague, Utrecht, Rotterdam, and Groningen.

            Rental housing platform Pararius recorded the average rental price in the Netherlands in 2016 at around € 1,365 a month but in Eindhoven the average was € 1,650 per month, while in Rotterdam the average was around € 1,200 and in The Hague € 1,500. One main cause is the short rental supply in the private sector, which accounts for only some 5 percent of total housing stock, with the remaining rental stock classified under the social housing sector, which has long waiting lists and restricted to those on high salaries. Read more about renting in the Netherlands.

            In comparison, as a result of low interest rates, in some cases, it is possible to secure a mortgage lower than the average rental prices. However, costs associated with buying property in the Netherlands total around 4-5 percent of the purchase price, thus buying Dutch property is more suitable for long-term investments, at least a minimum of five years. Based on the current price increase on the Dutch housing market it goes faster.

            Can I get a mortgage in the Netherlands?

            Of course! There are no legal restrictions for non-Dutch citizens buying Dutch property or applying for a Dutch mortgage. However, if you are relatively new to a job or area, self-employed, on a low income or of a non-EU nationality, these may result in stricter lending criteria and can become a bumpy road. This can result in a lower maximum Loan To Value (LTV). This is the ratio between the value of the house and the mortgage expressed in a percentage.

            Each bank has different requirements, but in general, if you are from a country within the EU it helps a lot to apply for a mortgage. They will probably expect you to have a valid passport, have lived in the Netherlands for at least six months, have a citizen service number (BSN) and have permanent employment in the Netherlands.

            You may need to pay a deposit and be limited to a maximum mortgage of 90 percent of the property value, although the Dutch bank does allow mortgages of the full value of a property.

            Regardless of nationality, if you are employed you will need to show proof of income and a statement from your employer (werkgeversverklaring) with details of your contract and salary. Temporary workers and university researchers/Ph.D. students will need statements from their employers/universities confirming their position. Self-employed people need to supply the last three years’ income tax returns and accounts.

            Large companies Eindhoven area

            We help all expats in the Eindhoven region. The larger employers for expats in the Eindhoven region are ASML and Philips.

            As from 1 January 2013 the rules for mortgage loans are changed

            If you live in a house that you own, you have an owner-occupied home. If you are a qualifying non-resident taxpayer, you may deduct the interest on your mortgage or loan for this house.

            Did you buy an owner-occupied home after 1 January 2013? Or did you increase your mortgage or loan after 1 January 2013? Or is your mortgage or loan higher now than in 2012, because you bought a more expensive house? In that case, you will be dealing with new rules for the deduction of your (mortgage) interest.

            On 1 January 2013, the rules on the deduction of interest on the home acquisition debt (mortgage interest deduction) were changed. For any new loans, you may only deduct the interest if you repay the loan in monthly installments. If you already had a home acquisition debt before 1 January 2013, you may continue deducting the interest on this debt and you are not obliged to repay.

            Taking out a mortgage as an entrepreneur in Eindhoven

            Starting a business or already having a business and buying a house in Eindhoven? They are two of the biggest things you can do in life – but do buying a home and starting a business go hand-in-hand?

            For many new business owners, the prospect of securing a mortgage fills them with dread. Judging by the number of client inquiries we receive many still fear that a freshly-formed business will, in the eyes of lenders’ underwriters, disqualify them from mortgage eligibility.

            On the flip side, many would-be business owners are forced to prioritize, preferring to defer their career ambitions, to secure their family home first. Only returning to their business dreams, sometimes years, later.

            But the anxiety around the implications of starting a business on your mortgage eligibility doesn’t need to be so thorny.

            It’s getting easier to get a mortgage as an entrepreneur

            True, historically, securing a home has been less straightforward for the self-employed than for employees. But, while in years gone by many lenders have shut up shop when approached by fledgling entrepreneurs, I have good news as most have now relaxed their rules.

            More specifically, whilst lenders all used to operate different criteria when it comes to assessing mortgage applications, many have now standardized the way they judge affordability. And the pool of lenders and products available to business owners is growing all the time.

            So, don’t worry – just like for your salaried friends, as long as your finances are fundamentally sound the chances are that you will get a mortgage.

            How to navigate the mortgage application process if you’re a business owner

            Many new business owners stress that mortgage lenders will require three years’ of good accounts against which to judge an application. Yet, whilst three years typically remains the period underwriters tend to look back on, the focus of their energies has changed.

            Rather than dive into your company accounts, most lenders also want to see your personal tax calculation. That means, just like employees, you need to show lenders proof of earnings after and before tax.

            Remember, your lender is also interested in the health of your business – as long as you can demonstrate a viable flow of cash – whether in dividends or salary – to your personal finances.

            Plan your business finances

            This doesn’t mean, however, that, when you want to buy a house you can embark on a new business with impunity.

            Yes, there are fewer technical hurdles to securing a mortgage but you must nevertheless consider the impact of starting a business on your underlying finances.

            You want to avoid getting into a situation where you are forced to defend your business plan or attempt to justify first-year set-up costs as one-off as this could cause delays to the whole process.

            When are you obliged to repay your mortgage?

            In order to be allowed to deduct the interest, you are obliged to repay the loan in the following situations:

            • You take out a mortgage or loan for the first time;
            • You increase your existing mortgage or loan, for example for a refurbishment;
            • If you already had a home acquisition debt on 31 December 2012, the repayment obligation will only apply to the additional amount you borrow;
            • You must repay the loan on an annuity basis or by equal amounts in no more than 360 months (30 years). In both cases, you will pay a fixed monthly amount consisting of interest and repayment. You are entitled to interest deduction in both cases.

            Have a question?

            For having an indication of your future mortgage payments please contact us.

              Response within 24 hours.
              Often sooner.
              We work nationwide
              Visit at home free of charge.
              All your information is 100% safe and secure.
              We care about your privacy.

              Video ABN Amro expat desk

              Current mortgage rates

               

              mortgage advice utrechtFree consultation?

              Our mortgage advisors in Utrecht can help you make sure you never pay more than you need to for your mortgage.

              Cournot Adviseurs offers a unique blend of low interest rates and elite customer service. We strive to offer each client the best service possible.

              The entire mortgage process can be handled online, in person, over-the-phone, or using a combination of other digital mediums.  We provide each client completely bespoke mortgage advice tailored to your particular needs and circumstances.

              Buying a house for the first time in Utrecht

              With help from our firm, we can make the complete mortgage process as clear and uncomplicated as possible. Buying your first home in Utrecht or the Netherlands can be a very exciting time, but there is also a lot to learn. Our financial advice covers a wide range of tips and guidance for first time buyers; such as how to save for your mortgage.

              Our firm specializes in independent mortgage and insurance advice. We offer a comprehensive range of mortgage products from across the market and provide services for expats for buying a house for affordable fixed fees:

              What can you expect from our mortgage services?  

              We are committed to providing an excellent level of service. Many of our clients come from abroad. Recommendations to friends, family, and colleagues and can be anywhere in Utrecht. We work nationwide and therefore we provide mortgage advice over the phone, by e-mail or in person.

              Independent mortgage advice

              First of all, you can expect independent and honest mortgage advise from us. This, more concretely, means that we have access to almost all mortgage lenders active in the Netherlands. We also have a partnership with foreign mortgage lenders. Besides, you have a legislator on your side who protects you.

              Namely, we are required to have a license and there is an independent financial supervisor.

              You can prepare the meeting with our mortgage advisors by calling in your employer’s statement.

              Need mortgage advice in Utrecht? We are glad to assist you!

              Want to live in the wonderful famous Dutch city of Utrecht? Not surprising of course, because there is so much to see and do in Utrecht. For instance the large Euromast or the beautiful Erasmusbrug. Want to have a look in the impressive harbor of Utrecht? Take a harbor tour with Spido to see it yourself.

              Are you looking for a home to buy in this bright city, or have you already signed a contract for a house and do you need mortgage advice? We are happy to serve you with specialized mortgage advice.

              Our highly educated mortgage advisors will give you more than appropriate mortgage advice in Utrecht. We love Utrecht as well. Book an initial, free of charge, telephone consultation with one of our mortgage advisors right now!

              The housing market in Utrecht

              The housing market is going through extraordinary times in Utrecht. Especially within the center area, it is difficult to find a home. Without guidance is it very hard to get hold of a house in the city with the only magnificent skyline of the Netherlands.

              Utrecht, with its extraordinary port, has a lasting appeal on a large group of people. Expats often choose to live in Utrecht compared to other cities because of its no-nonsense mentality of its residents.

              There are some typical characteristics worth noticing in the housing market of Utrecht:

              • Some of the ground belongs to the municipality and you have it on a long lease. In short, this means you pay a reimbursement to the local authorities.
              • A lot of the apartments have an owners’ association.

              Mortgage advice on making an offer with or without ‘subject to finance’ in Utrecht

              Any person currently looking for a home to buy in Utrecht knows that offers are frequently made without a resolutive condition. Also known as a finance clause. This clause gives you time to organize a mortgage for your new house.

              Making an offer without this condition can cause a big risk. Because what happens if the bank refuses your mortgage application?

              As this happens, you may then have to pay 10% of the purchase price as a penalty and the real cost of damage. Are you willing to take this risk? We can explain to you alternative solutions to have the best bid and buying without this expensive risk.

              Also, we can help you with have a sort of pre-approval mortgage application.

              Should I keep renting or buy a property in the Netherlands?

              In the five years following on the end of the financial crisis, property prices in the Netherlands plummeted more than fifteen percent and left many homebuyers with mortgages that exceeded the value of their Dutch property. However, the Dutch housing market upswing that started mid-2013 is predicted to continue through 2018, as the Dutch economy and consumer confidence improve and interest rates remain at a historical low point.

              These conditions have turned the Dutch housing market into a buyer’s market – particularly for first-time homebuyers – and increased local and foreign investment is pushing property prices back up again.

              In contrast, rental prices remained relatively stable over the same period, and are showing significant growth as the economy recovers; in 2015, for example, housing experts said rental prices doubled in the main cities of Amsterdam, The Hague, Utrecht, Rotterdam, and Groningen.

              Rental housing platform Pararius recorded the average rental price in the Netherlands in 2016 at around € 1,365 a month but in Amsterdam, the average was € 2,200 per month, while in Rotterdam the average was around € 1,200 and in The Hague € 1,500. One main cause is the short rental supply in the private sector, which accounts for only some 5 percent of total housing stock, with the remaining rental stock classified under the social housing sector, which has long waiting lists and restricted to those on high salaries. Read more about renting in the Netherlands.

              In comparison, as a result of low interest rates, in some cases, it is possible to secure a mortgage lower than the average rental prices. However, costs associated with buying property in the Netherlands total around 4-5 percent of the purchase price, thus buying Dutch property is more suitable for long-term investments, at least a minimum of five years. Based on the current price increase on the Dutch housing market it goes faster.

              Can I get a mortgage in the Netherlands for my Utrecht property?

              Of course! There are no legal restrictions for non-Dutch citizens buying Dutch property or applying for a Dutch mortgage. However, if you are relatively new to a job or area, self-employed, on a low income or of a non-EU nationality, these may result in stricter lending criteria and can become a bumpy road. This can result in a lower maximum Loan To Value (LTV). This is the ratio between the value of the house and the mortgage expressed in a percentage.

              Each bank has different requirements, but in general, if you are from a country within the EU it helps a lot to apply for a mortgage. They will probably expect you to have a valid passport, have lived in the Netherlands for at least six months, have a citizen service number (BSN) and have permanent employment in the Netherlands.

              You may need to pay a deposit and be limited to a maximum mortgage of 90 percent of the property value, although the Dutch bank does allow mortgages of the full value of a property.

              Regardless of nationality, if you are employed you will need to show proof of income and a statement from your employer (werkgeversverklaring) with details of your contract and salary. Temporary workers and university researchers/Ph.D. students will need statements from their employers/universities confirming their position. Self-employed people need to supply the last three years’ income tax returns and accounts.

              As from 1 January 2013 the rules for mortgage loans are changed

              If you live in a house that you own, you have an owner-occupied home. If you are a qualifying non-resident taxpayer, you may deduct the interest on your mortgage or loan for this house.

              Did you buy an owner-occupied home after 1 January 2013? Or did you increase your mortgage or loan after 1 January 2013? Or is your mortgage or loan higher now than in 2012, because you bought a more expensive house? In that case, you will be dealing with new rules for the deduction of your (mortgage) interest.

              On 1 January 2013, the rules on the deduction of interest on the home acquisition debt (mortgage interest deduction) were changed. For any new loans, you may only deduct the interest if you repay the loan in monthly installments. If you already had a home acquisition debt before 1 January 2013, you may continue deducting the interest on this debt and you are not obliged to repay.

              What is 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 an 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.

              When are you obliged to repay?

              In order to be allowed to deduct the interest, you are obliged to repay the loan in the following situations:

              • You take out a mortgage or loan for the first time;
              • You increase your existing mortgage or loan, for example for a refurbishment;
              • If you already had a home acquisition debt on 31 December 2012, the repayment obligation will only apply to the additional amount you borrow;
              • You must repay the loan on an annuity basis or by equal amounts in no more than 360 months (30 years). In both cases, you will pay a fixed monthly amount consisting of interest and repayment. You are entitled to interest deduction in both cases.
              Response within 24 hours.
              Often sooner.
              We work nationwide
              Visit at home free of charge.
              All your information is 100% safe and secure.
              We care about your privacy.

              For having an indication of your future mortgage payments please contact us.

                Video ABN Amro expat desk

                Current mortgage rates

                 

                 

                mortgage advice rotterdamBook a free 60 minutes consultation

                Our mortgage advisors in Rotterdam can help you make sure you never pay more than you need to for your mortgage. Make it Happen is the slogan of the city of Rotterdam! This fits with our mentality to serve you with the best mortgage advice in Rotterdam.

                Buying a house for the first time in Rotterdam

                With the help from our firm we can make the complete mortgage process as clear and uncomplicated as possible. Buying your first home in Rotterdam or the Netherlands can be a very exciting time, but there is also a lot to learn. Our financial advice covers a wide range of tips and guidance for first time buyers; such as how to save for your mortgage.

                Our firm specialises in independent mortgage and insurance advice. We offer a comprehensive range of mortgage products from across the market and provide services for expats for buying a house for affordable fixed fees:

                What can you expect from our mortgage services?  

                We are committed to provide an excellent level of service. Many of our clients come from abroad. Recommendations to friends, family and colleagues and can be anywhere in Rotterdam. We work nationwide and therefore we provide mortgage advice over the phone, by e-mail or in person.

                Independent mortgage advice

                First of all you can expect independent and honest mortgage advise from us. This, more concretely, means that we have access to almost all mortgage lenders active in the Netherlands. We also have a partnership with foreign mortgage lenders. Besides, you have a legislator on your side who protects you.

                Namely, we are required to have a license and there is an independent financial supervisor.

                You can prepare the meeting with our mortgage advisors by call in your employer’s statement.

                Need mortgage advice in Rotterdam? We are glad to assist you!

                Want to live in the wonderful famous Dutch city of Rotterdam? Not surprising of course, because there is so much to see and do in Rotterdam. For instance the large Euromast or the beautiful Erasmusbrug. Want to have a look in the impressive harbor of Rotterdam? Take a harbor tour with Spido to see it yourself.

                Are you looking for a home to buy in this bright city, or have you already signed a contract for a house and do you need mortgage advice? We are happy to serve you with specialised mortgage advice.

                Our highly educated mortgage advisors will give you more then appropriate mortgage advice in Rotterdam. We love Rotterdam as well. Book an initial, free of charge, telephone consultation with one of our mortgage advisors right now!

                Housing market in Rotterdam

                The housing market is going through extraordinary times in Rotterdam. Especially within the centre area it is difficult to find a home. Without guidance is it very hard to get hold of a house in the city with the only magnificent skyline of the Netherlands.

                Rotterdam, with its extraordinary port, has a lasting appeal on a large group of people. Expats often choose to live in Rotterdam compared to other cities because of its no-nonsense mentality of it’s residents.

                There are some typical characteristics worth noticing in the housing market of Rotterdam:

                • Some of the land belongs to the municipality and you have the it on a long lease. In short this means you pay a reimbursement to the local authorities.
                • A lot of the apartments have an owners’ association.

                Mortgage advice on making an offer with or without ‘subject to finance’ in Rotterdam

                Any person currently looking for a home to buy in Rotterdam knows that offers are frequently made without a resolutive condition. Also known as a finance clause. This clause give you time to organise a mortgage for your new house.

                Making an offer without this condition can cause a big risk. Because what happens if the bank refuses your mortgage application?

                As this happens, you may then have to pay 10% of the purchase price as a penalty and the real cost of damage. Are you willing to take this risk? We can explain you alternative solutions to have the best bid and buying without this expensive risk.

                Also we can help you with have a sort of pre-approval mortgage application.

                Should I keep renting or buy a property in the Netherlands?

                In the five years following on the end of the financial crisis, property prices in the Netherlands plummeted more than fifteen percent and left many homebuyers with mortgages that exceeded the value of their Dutch property. However, the Dutch housing market upswing that started mid-2013 is predicted to continue through 2018, as the Dutch economy and consumer confidence improve and interest rates remain at a historical low point.

                These conditions have turned the Dutch housing market into a buyer’s market – particularly for first-time homebuyers – and increased local and foreign investment is pushing property prices back up again.

                In contrast, rental prices remained relatively stable over the same period, and are showing significant growth as the economy recovers; in 2015, for example, housing experts said rental prices doubled in the main cities of Amsterdam, The Hague, Utrecht, Rotterdam and Groningen.

                Rental housing platform Pararius recorded the average rental price in the Netherlands in 2016 at around € 1,365 a month but in Amsterdam the average was € 2,200 per month, while in Rotterdam the average was around € 1,200 and in The Hague € 1,500. One main cause is the short rental supply in the private sector, which accounts for only some 5 percent of total housing stock, with the remaining rental stock classified under the social housing sector, which has long waiting lists and restricted to those on high salaries. Read more about renting in the Netherlands.

                In comparison, as a result of low interest rates, in some cases it is possible to secure a mortgage lower than the average rental prices. However, costs associated with buying property in the Netherlands total around 4-5 percent of the purchase price, thus buying Dutch property is more suitable for long-term investments, at least a minimum of five years. Based on the current price increase on the Dutch housing market it goes faster.

                Can I get a mortgage in the Netherlands for my Rotterdam property?

                Of course! There are no legal restrictions for non-Dutch citizens buying Dutch property or applying for a Dutch mortgage. However, if you are relatively new to a job or area, self-employed, on a low income or of a non-EU nationality, these may result in a stricter lending criteria and can become a bumpy road. This can result in a lower maximum Loan To Value (LTV). This is the ratio between the value of the house and the mortgage expressed in a percentage.

                Each bank has different requirements, but in general, if you are from a country within the EU it helps a lot to apply for a mortgage. They will probably expect you to have a valid passport, have lived in the Netherlands for at least six months, have a citizen service number (BSN) and have permanent employment in the Netherlands.

                You may need to pay a deposit and be limited to a maximum mortgage of 90 percent of the property value, although the Dutch bank does allow mortgages of the full value of a property.

                Regardless of nationality, if you are employed you will need to show proof of income and a statement from your employer (werkgeversverklaring) with details of your contract and salary. Temporary workers and university researchers/PhD students will need statements from their employers/universities confirming their position. Self-employed people need to supply the last three years’ income tax returns and accounts.

                As from 1 January 2013 the rules for mortgage loans are changed

                If you live in a house that you own, you have an owner-occupied home. If you are a qualifying non-resident taxpayer, you may deduct the interest on your mortgage or loan for this house.

                Did you buy an owner-occupied home after 1 January 2013? Or did you increase your mortgage or loan after 1 January 2013? Or is your mortgage or loan higher now than in 2012, because you bought a more expensive house? In that case, you will be dealing with new rules for the deduction of your (mortgage) interest.

                On 1 January 2013, the rules on the deduction of interest on the home acquisition debt (mortgage interest deduction) were changed. For any new loans, you may only deduct interest if you repay the loan in monthly instalments. If you already had a home acquisition debt before 1 January 2013, you may continue deducting the interest on this debt and you are not obliged to repay.

                What is 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 in 2018 with NHG is € 265.000. Other conditions of this program.

                Taking out a mortgage as an entrepreneur

                Starting a business or already being in business and buying a house in the Netherlands? They are two of the biggest things you can do in life – but do buying a home and starting a business go hand-in-hand?

                For many new business owners, the prospect of securing a mortgage fills them with dread. Judging by the number of client enquiries we receive many still fear that a freshly-formed business will, in the eyes of lenders’ underwriters, disqualify them from mortgage eligibility.

                On the flip side, many would-be business owners are forced to prioritise, preferring to defer their career ambitions, to secure their family home first. Only returning to their business dreams, sometimes years, later.

                But the anxiety around the implications of starting a business on your mortgage eligibility doesn’t need to be so thorny.

                It’s getting easier to get a mortgage as an entrepreneur

                True, historically, securing a home has been less straightforward for the self-employed than for employees. But, while in years gone by many lenders have shut up shop when approached by fledgling entrepreneurs, I have good news as most have now relaxed their rules.

                More specifically, whilst lenders all used to operate different criteria when it comes to assessing mortgage applications, many have now standardised the way they judge affordability. And the pool of lenders and products available to business owners is growing all the time.

                So, don’t worry – just like for your salaried friends, as long as your finances are fundamentally sound the chances are that you will get a mortgage.

                How to navigate the mortgage application process if you’re a business owner

                Many new business owners stress that mortgage lenders will require three years’ of good accounts against which to judge an application. Yet, whilst three years typically remains the period underwriters tend to look back on, the focus of their energies has changed.

                Rather than dive in to your company accounts, most lenders also want to see your personal tax calculation. That means, just like employees, you need to show lenders proof of earnings after and before tax.

                Remember, your lender is also interested in the health of your business – as long as you can demonstrate a viable flow of cash – whether in dividends or salary – to your personal finances.

                Plan your business finances

                This doesn’t mean, however, that, when you want to buy a house you can embark on a new business with impunity.

                Yes, there are fewer technical hurdles to securing a mortgage but you must nevertheless consider the impact of starting a busines on your underlying finances.

                You want to avoid getting into a situation where you are forced to defend your business plan or attempt to justify first-year set-up costs as one-off as this could cause delays to the whole process.

                When are you obliged to repay?

                In order to be allowed to deduct the interest, you are obliged to repay the loan in the following situations:

                • You take out a mortgage or loan for the first time;
                • You increase your existing mortgage or loan, for example for a refurbishment;
                • If you already had a home acquisition debt on 31 December 2012, the repayment obligation will only apply to the additional amount you borrow;
                • You must repay the loan on an annuity basis or by equal amounts in no more than 360 months (30 years). In both cases, you will pay a fixed monthly amount consisting of interest and repayment. You are entitled to interest deduction in both cases.
                Response within 24 hours.
                Often sooner.
                We work nationwide
                Visit at home free of charge.
                All your information is 100% safe and secure.
                We care about your privacy.

                For having an indication of your future mortgage payments please contact us.


                  Video ABN Amro expat desk

                  Current mortgage rates

                   

                  mortgage advice amsterdamBook a free 60 minutes consultation

                  Our mortgage advisors in Amsterdam can help you make sure you never pay more than you need to for your mortgage. Mortgage advice Amsterdam by dedicated financial advisors.

                  Buying a house for the first time in Amsterdam

                  With help from our firm we can make the complete mortgage process as clear and uncomplicated as possible. Buying your first home in Amsterdam or the Netherlands can be a very exciting time, but there is also a lot to learn. Our financial advice covers a wide range of tips and guidance for first time buyers; such as how to save for your mortgage.

                  Our firm specializes in independent mortgage and insurance advice. We offer a comprehensive range of mortgage products from across the market and provide services for expats for buying a house for affordable fixed fees:

                  What can you expect from our mortgage services?  

                  We are committed to providing an excellent level of service. Many of our clients come from abroad. Recommendations to friends, family, and colleagues and can be anywhere in Amsterdam. We work nationwide and therefore we provide mortgage advice over the phone, by e-mail or in person.

                  Independent mortgage advice

                  First of all you can expect independent and honest mortgage advise from us. This, more concretely, means that we have access to almost all mortgage lenders active in the Netherlands. We also have a partnership with foreign mortgage lenders. Besides, you have a legislator on your side who protects you.

                  Namely, we are required to have a license and there is an independent financial supervisor.

                  You can prepare the meeting with our mortgage advisors by calling in your employer’s statement.

                  Need mortgage advice in Amsterdam? We are glad to assist you!

                  Want to live in the wonderful famous Dutch city of Amsterdam? Not surprising of course, because there is so much to see and do in Amsterdam. For instance the impressive Rijksmuseum or the beautiful canals. Perhaps you need to adjust to the overwhelming presence of bikes!

                  Are you looking for a home to buy in this bright city, or have you already signed a contract for a house and do you need mortgage advice? We are happy to serve you with specialized mortgage advice.

                  Our highly educated mortgage advisors will give you more than appropriate mortgage advice in Amsterdam. We love Amsterdam as well. Book an initial, free of charge, telephone consultation with one of our mortgage advisors right now!

                  The housing market in Amsterdam

                  The housing market is going through extraordinary times in Amsterdam. A house with a garden is becoming scarce and the prices are going through the roof. Without guidance is it very hard to get hold of a house in the capital city of the Netherlands.

                  Amsterdam, with its extraordinary canals, has a lasting appeal on a large group of people. Expats often choose to live in Amsterdam compared to other cities because of its favorable establishment environment.

                  There are some typical characteristics worth noticing in the housing market of Amsterdam:

                  • Some of the ground belongs to the municipality and you have it on a long lease. In short, this means you pay reimbursement to the local authorities.
                  • A lot of the apartments have an owners’ association.
                  • There is a unique mannerism to bid on a house in Amsterdam.
                  • The notary prepares a concept purchase agreement and invites the parties involved in the process to sign the document at his or her office.

                  Mortgage advice on making an offer with or without ‘subject to finance’ in Amsterdam

                  Any person currently looking for a home to buy in Amsterdam knows that offers are frequently made without a resolutive condition. Also known as a finance clause. This clause gives you time to organize a mortgage for your new house.

                  Making an offer without this condition can cause a big risk. Because what happens if the bank refuses your mortgage application?

                  As this happens, you may then have to pay 10% of the purchase price as a penalty and the real cost of damage. Are you willing to take this risk? We can explain to you alternative solutions to have the best bid and buying without this expensive risk.

                  Also, we can help you with have a sort of pre-approval mortgage application.

                  Should I keep renting or buy a property in the Netherlands?

                  In the five years following on the end of the financial crisis, property prices in the Netherlands plummeted more than fifteen percent and left many homebuyers with mortgages that exceeded the value of their Dutch property. However, the Dutch housing market upswing that started mid-2013 is predicted to continue through 2018, as the Dutch economy and consumer confidence improve and interest rates remain at a historical low point.

                  These conditions have turned the Dutch housing market into a buyer’s market – particularly for first-time homebuyers – and increased local and foreign investment is pushing property prices back up again.

                  In contrast, rental prices remained relatively stable over the same period, and are showing significant growth as the economy recovers; in 2015, for example, housing experts said rental prices doubled in the main cities of Amsterdam, The Hague, Utrecht, Rotterdam, and Groningen.

                  Rental housing platform Pararius recorded the average rental price in the Netherlands in 2016 at around € 1,365 a month but in Amsterdam, the average was € 2,200 per month, while in Rotterdam the average was around € 1,200 and in The Hague € 1,500. One main cause is the short rental supply in the private sector, which accounts for only some 5 percent of total housing stock, with the remaining rental stock classified under the social housing sector, which has long waiting lists and restricted to those on high salaries. Read more about renting in the Netherlands.

                  In comparison, as a result of low interest rates, in some cases, it is possible to secure a mortgage lower than the average rental prices. However, costs associated with buying property in the Netherlands total around 4-5 percent of the purchase price, thus buying Dutch property is more suitable for long-term investments, at least a minimum of five years. Based on the current price increase on the Dutch housing market it goes faster.

                  Can I get a mortgage in the Netherlands?

                  Of course! There are no legal restrictions for non-Dutch citizens buying Dutch property or applying for a Dutch mortgage. However, if you are relatively new to a job or area, self-employed, on a low income or of a non-EU nationality, these may result in stricter lending criteria and can become a bumpy road. This can result in a lower maximum Loan To Value (LTV). This is the ratio between the value of the house and the mortgage expressed in a percentage.

                  Each bank has different requirements, but in general, if you are from a country within the EU it helps a lot to apply for a mortgage. They will probably expect you to have a valid passport, have lived in the Netherlands for at least six months, have a citizen service number (BSN) and have permanent employment in the Netherlands.

                  You may need to pay a deposit and be limited to a maximum mortgage of 90 percent of the property value, although the Dutch bank does allow mortgages of the full value of a property.

                  Regardless of nationality, if you are employed you will need to show proof of income and a statement from your employer (werkgeversverklaring) with details of your contract and salary. Temporary workers and university researchers/Ph.D. students will need statements from their employers/universities confirming their position. Self-employed people need to supply the last three years’ income tax returns and accounts.

                  As from 1 January 2013 the rules for mortgage loans are changed

                  If you live in a house that you own, you have an owner-occupied home. If you are a qualifying non-resident taxpayer, you may deduct the interest on your mortgage or loan for this house.

                  Did you buy an owner-occupied home after 1 January 2013? Or did you increase your mortgage or loan after 1 January 2013? Or is your mortgage or loan higher now than in 2012, because you bought a more expensive house? In that case, you will be dealing with new rules for the deduction of your (mortgage) interest.

                  On 1 January 2013, the rules on the deduction of interest on the home acquisition debt (mortgage interest deduction) were changed. For any new loans, you may only deduct the interest if you repay the loan in monthly installments. If you already had a home acquisition debt before 1 January 2013, you may continue deducting the interest on this debt and you are not obliged to repay.

                  Code of conduct for mortgage loans

                  Lending institutions such as banks and other mortgage providers are bound by a code of conduct in relation to mortgages. In Dutch, this code of conduct is known as Gedragscode Hypothecaire Financiering. The current version of the governments Code of Conduct for mortgage loans came into effect in 2011.  The code of conduct applies to mortgages on primary residences only.

                  Actual interest rates (September, 25th 2018)

                  What is National Mortgage Guarantee (in Dutch called 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 an 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.

                  Taking out a mortgage as an entrepreneur

                  Starting a business or already having one and buying a house in Amsterdam or elsewhere in the Netherlands? They are two of the biggest things you can do in life – but do buying a home and starting a business go hand-in-hand?

                  For many new business owners, the prospect of securing a mortgage fills them with dread. Judging by the number of client inquiries we receive many still fear that a freshly-formed business will, in the eyes of lenders’ underwriters, disqualify them from mortgage eligibility.

                  On the flip side, many would-be business owners are forced to prioritize, preferring to defer their career ambitions, to secure their family home first. Only returning to their business dreams, sometimes years, later.

                  But the anxiety around the implications of starting a business on your mortgage eligibility doesn’t need to be so thorny.

                  It’s getting easier to get a mortgage as an entrepreneur

                  True, historically, securing a home has been less straightforward for the self-employed than for employees. But, while in years gone by many lenders have shut up shop when approached by fledgling entrepreneurs, I have good news as most have now relaxed their rules.

                  More specifically, whilst lenders all used to operate different criteria when it comes to assessing mortgage applications, many have now standardized the way they judge affordability. And the pool of lenders and products available to business owners is growing all the time.

                  So, don’t worry – just like for your salaried friends, as long as your finances are fundamentally sound the chances are that you will get a mortgage.

                  How to navigate the mortgage application process if you’re a business owner

                  Many new business owners stress that mortgage lenders will require three years’ of good accounts against which to judge an application. Yet, whilst three years typically remains the period underwriters tend to look back on, the focus of their energies has changed.

                  Rather than dive into your company accounts, most lenders also want to see your personal tax calculation. That means, just like employees, you need to show lenders proof of earnings after and before tax.

                  Remember, your lender is also interested in the health of your business – as long as you can demonstrate a viable flow of cash – whether in dividends or salary – to your personal finances.

                  Plan your business finances

                  This doesn’t mean, however, that, when you want to buy a house you can embark on a new business with impunity.

                  Yes, there are fewer technical hurdles to securing a mortgage but you must nevertheless consider the impact of starting a business on your underlying finances.

                  You want to avoid getting into a situation where you are forced to defend your business plan or attempt to justify first-year set-up costs as one-off as this could cause delays to the whole process.

                  When am I obliged to repay my loan?

                  In order to be allowed to deduct the interest, you are obliged to repay the loan in the following situations:

                  • You take out a mortgage or loan for the first time;
                  • You increase your existing mortgage or loan, for example for a refurbishment;
                  • If you already had a home acquisition debt on 31 December 2012, the repayment obligation will only apply to the additional amount you borrow;
                  • You must repay the loan on an annuity basis or by equal amounts in no more than 360 months (30 years). In both cases, you will pay a fixed monthly amount consisting of interest and repayment. You are entitled to interest deduction in both cases.
                  Response within 24 hours.
                  Often sooner.
                  We work nationwide
                  Visit at home free of charge.
                  All your information is 100% safe and secure.
                  We care about your privacy.

                  For having an indication of your future mortgage payments please contact us.

                    Video ABN Amro expat desk