Mortgages in the Netherlands
How do I get a loan for buying an apartment or a house?
Are there restrictions on how much I can borrow for my mortgage?
What are the types of mortgages available in the Netherlands?
How can I decide which mortgage is best for me?
How is the interest on my mortgage calculated?
What type of information is required when getting a mortgage?
The requirements for getting a mortgage will depend on the bank or mortgage provider you choose. Generally, people originating from an EU member state country and who have a permanent employment contract do not experience any difficulties in getting a mortgage.
The bank or mortgage provider will want to know about the property that you wish to purchase. They may ask for you to pay for an independent inspection report on the property before they make any decision on whether to grant you a mortgage.
From January 1, 2017, homebuyers aged between 18 and 40 can receive the schenkingsvrijstelling (parental gift tax exemption). This is a gift of up to 100.000 euros and it is tax-free. It can be received from their parents or others as a contribution towards buying, renovating or paying the mortgage on a property. The parental gift tax exemption has been raised and lowered in recent years in response to changes in the housing market.
For people from outside the EU, the bank or mortgage provider may want to consider the following aspects:
- The kind of residence permit you have
- The level of security afforded by your employment contract and what type of job you have
- Who is your employer? Generally, it is easier to get a mortgage if you work for a well-known, larger company than for a small company
- How much you currently earn after tax and pension deductions (take-home pay)
- What other significant expenses you currently have, e.g. paying for a car, any bank loans etc. and your general financial situation
- The nationality of your partner (is he/she Dutch or not?)