Expat mortgages

Finding expat mortgages

Concerning expat mortgages, the Dutch government has set out quite a bit of rules. As a matter of fact – they recently, in january 2013, tightened the legislation concerning expats. This makes obtaining an expat mortgage a little more difficult, but also safer. The main goal of the Dutch law is preventing expats from running into a debt, which – in the case of buying a house – will be a very big debt. One of the new rules concerns te maximum value of a possible expat mortgage, which was reduced from 104 to 103 percent of the buying price. Also, only linear mortgages will be eligible for something called renteaftrek – a special tax deduction.

Furthermore, the banks and institutions offering expat mortgages will often use a strict regulation on the documents necessary while obtaining a mortgage. Expats will have to provide banks and institutions offering expat mortgages with personal information as well as information about the current financial position. You will have to provide an werkgeversverklaring, a employers declaration in which your employer basically confirms your income. Also required is a salary specification confirming your most recent salary. And unfortunately, that is just the beginning. After you found out which price range of houses and apartments applies to you, you will probably get entangled in even more sets of rules. For example: if you want to buy an apartment, you will have to cope with buying the specific rights not only for your apartment, but for the entire complex. This is the case in some of the housing projects in the center of Amsterdam. Also, you will have to pay a certain amount of money for something called overdrachtsbelasting (transfer tax), which is two percent of the buying price. And there is more, way more to come…

Mortgages for expats

Do you have specific plans on moving to the Netherlands or either a temporary or on more permanent basis? Then you should probably know that The Netherlands – or Nederland, as we call it – is a great country to both live and work. The Dutch are widely known as hard working, tolerant people who will often assist you in any way they possibly can. But living in The Netherlands is not all about the wooden shoes, the windmills, the tulips and Amsterdam. For example: it is not always easy to buy property, especially if you are an expat. In most cases it means that you will have to find yourself a right hypotheek: the Dutch translation of the word mortgage. You are going to make an individual and financial agreement with another party, like a bank or an institution offering expat mortgages.

What I do first?

The rules concerning getting an expat mortgage as defined above are – quite obviously – just examples of what to expect when you are moving to The Netherland and planning on getting yourself a mortgage. And that is exactly why FineForte.nl introduced a free intake or free orientation for expats looking for an expat mortgage. So before you start looking for houses or even mortgages yourself, please get in touch with our mortgage broker, expat specialist or one of our expat mortgage experts. We will help you find the best mortgage rates possible by providing you with professional mortgage advice, determining which mortgage will suit your needs. Once again: you can always contact us per phone 085-0074080 or mail info@finaforte.nl for detailed information on your expat mortgage.

Always the best interest rates