Frequently asked questions2019-07-08T15:03:36+00:00
Why an appointment with Erwin? I can also go to the bank myself.2019-07-08T13:51:04+00:00

You always get independent, honest advice. Together we look at the various lenders and find the best provider for you. This can be the provider with the sharpest interest rates, or the provider with the best conditions on the market. This way you get a mortgage that suits you best.

Do I need to have a permanent contract?2019-07-12T08:52:10+00:00

No, you do not. There are also possibilities with a temporary contract. With a temporary contract your employer can issue a declaration of intent. In it, he will indicate that he will convert the temporary employment contract into a permanent employment contract in due course. Taking out a mortgage is then no problem. Is your employer not prepared to issue this letter of intent? In that case, there are often opportunities to qualify as a so-called flex worker. This is based on the average income of the past 3 years (with a maximum of the last year). If you really expect that you will no longer have any work at the end of your contract, it is questionable whether this is the right time to buy a house and make a financial commitment. I will be happy to discuss the possibilities with you.

It is also possible to take out a mortgage as a flexworker or temporary employee. In that case it is important that you can demonstrate that you have had a constant income over the past 3 years.

Download employer's statement

In addition to the interest rate, what else is important when choosing the best provider for you?2019-07-08T14:01:47+00:00

In addition to the interest rate, the following matters, among others, play a role in making your choice:

  • The period of validity of the offer (up to a maximum of 12 months)
  • Moving arrangement (taking your interest rate contract with you to the next home)
  • Possibility of penalty free redemption
  • Decrease in interest when your house becomes worth more
  • Possibility to increase mortgage during term
  • Passing interest = contract interest
I am an entrepreneur, can I take out a mortgage?2019-07-08T13:59:13+00:00

Yes, it is. A condition is that you have been working as a self-employed person for at least one year and are able to submit annual figures. In the case of self-employed entrepreneurs (at most mortgage lenders), the business results of the last 3 years are taken into account. Some mortgage lenders are satisfied with less history but ask for additional information (such as interim figures or a forecast for the coming year).

What are the costs of advice?2019-07-12T08:55:50+00:00

For the rates I refer you to the document, the Rates.

I am a little short on income. Are there any possibilities?2019-07-08T14:03:57+00:00

Yes, it is. In some situations there are other options. For example, your parents can help with a donation, there is the Starter Loan in some municipalities and you may be able to make agreements with your employer about an increase in income within 6 months. Various parties are willing to think along with you. Be well informed.

More information about the Starter Loan: https://www.svn.nl/particulieren/lening/starterslening

More information about tax-free donations for the purchase of a home: https://www.belastingdienst.nl/wps/wcm/connect/nl/schenken/content/belastingvrije-schenkingen-voor-koopwoning

Gift agreement 38 KB

DOWNLOAD

Example loan agreement 14.89 KB

DOWNLOAD

I have a BKR registration, are there any possibilities for me?2019-07-12T09:24:41+00:00

Many people are positively registered with the BKR. A registration with the BKR does not necessarily mean that you have payment problems. With a positive report in the BKR register, obtaining a mortgage and buying a house should not be a problem.

Negative registration
If you are in arrears (of more than 120 days), you will receive a negative registration with the BKR and a backlog coding. As a result, it is very difficult to take out a mortgage for the first 5 years. There are still possibilities with some mortgage lenders. Other providers will show you the door immediately. This often depends on the 'heaviness' of the coding.

A-coding
If you are unexpectedly behind on your loan, you will receive an A-coding in the BKR register. For example, you have (repeatedly) failed to pay an instalment. You will receive the A-coding if you are in arrears of about 3 months. This code can make it more difficult to take out a mortgage and buy a house.

H-coding, a recovered coding
If there is an A- (backlog) or A1 coding and it has been restored, you get an H code. Your payment arrears are then cleared. A single lender will check whether they are willing to grant you a mortgage so that you can buy a house.

Other codings
In the case of other, heavier, BKR codes, no lender is prepared to grant a mortgage. You only qualify once you have repaid your debt in full and the report has disappeared from the BKR. Withdrawal from the BKR takes place 5 years after the last adjustment in the BKR system.

Quick data retrieval at BKR? Take a look here: https://www.bkr.nl/consumenten/opvragen-gegevens/

The starter loan, what is it?2019-07-08T14:05:41+00:00

The Starter Loan offers starters on the owner-occupied housing market the opportunity to borrow just that little bit extra in a responsible way. This makes that one special house possible anyway.

More information about the Starter Loan:https://www.svn.nl/starterslening

Do I have to pay off my mortgage after 30 years?2019-07-23T08:29:36+00:00

Whoever takes out a mortgage, in many cases takes out a loan for a period of 30 years. This is the economic term of the mortgage and is independent of the chosen fixed-interest period. At the end date, the mortgage must be repaid in full to the lender.

In the Netherlands, 1.1 million homeowners have a mortgage that is not or only partially redeemed. Homeowners with a non-repayable mortgage are often insufficiently aware that they too must repay the mortgage in full after 30 years.

Risks redemption free mortgage after 30 years

Of course, you can choose to sell the house after 30 years and pay off the mortgage. However, if you want to continue living in your own home, you will have to refinance the residual debt (mortgage extension). This involves a number of risks:

The residual debt may not be able to be fully financed

  • In 2018, only 100% of the house value may be financed. Politicians are calling for this to be reduced to 90%.
  • After 30 years, the mortgage goes from box 1 to box 3. The mortgage will then be tested more strictly on the basis of income.
  • If the mortgage expires after your 56th birthday, your pension income will partly determine what you can borrow. Banks take into account a (lower) income after retirement as from 10 years before the retirement date.

Monthly costs increase in the financing of residual debt

  • After 30 years, the mortgage interest deduction lapses. This means that your net monthly costs will increase.
  • If you choose to continue your mortgage redemption free, you often pay a risk surcharge. Also, you may not be able to take the full redemption-free mortgage with you.
  • If you choose to start paying off after 30 years, this will obviously result in higher monthly costs.

Over-50s underestimate risk of redemption free mortgage

Elderly people often have a large excess value and therefore do not expect any problems in extending the redemption-free mortgage. However, the new mortgage is also tested on income. Due to a lower income (after retirement) or stricter income standards, it is not always possible to extend the redemption-free mortgage (despite the excess value).

The supervisory authority AFM has therefore determined that the new redemption-free mortgage may, subject to conditions, be tested against the actual mortgage burden. This instead of the higher notional burden in the case of annuity repayments. This offers greater opportunities for the elderly to extend the redemption-free mortgage. However, they remain dependent on their bank whether it adopts the directive from the AFM. For them, too, the redemption-free mortgage can be a risk.

Solutions:

  • You can redeem part of the mortgage with your savings each year. This is interesting in view of the low interest rate on savings at the moment. Most banks allow you to redeem up to 10 to 20% of the mortgage with no penalty.
  • You can convert the mortgage to annuity or linear redemption. This is also penalty-free if you continue the mortgage for the remaining fixed-interest period with the same bank. However, administration costs will be charged for this.
  • You can transfer the redemption free mortgage to annuity, linear redemption or redemption free with another lender. You can then reconstitute the mortgage, including the lowest interest rate in the market. Despite the penalty interest rate, this can be the most advantageous at the bottom of the line.

For further information, see this Radar broadcast:
https://radar.avrotros.nl/uitzendingen/gemist/item/de-gevaren-van-de-aflossingsvrije-hypotheek/

How do I find out my current WOZ value?2019-07-08T14:09:08+00:00

The WOZ value of your home can be requested free of charge from most municipalities at https://www.wozwaardeloket.nl.

Go to Top