A mortgage is a loan from the bank to buy a house (or apartment) in the Netherlands. You can also use it to pay for a renovation of your house.
With a mortgage, you can buy a house in the Netherlands. You borrow money from the bank and pay part of it back every month. If you are from an EU country, you do not need a work permit to work or apply for a mortgage. If you are from outside the EU, you will need a valid residence permit. Sometimes the rules are stricter and you have to show additional documents when buying a house.
With a mortgage, you pay an amount to the bank every month. This is called the gross amount. Because you can often make use of mortgage interest deductions in the Netherlands, you will get a tax refund. As a result, your real costs are lower. This is called the net mortgage costs.
The interest you pay on your mortgage can often be refunded through tax. This is called mortgage interest deduction. As a result, you pay less money every month. You are only entitled to this deduction if you meet certain rules. For example, you must repay the loan in full within 30 years.
Always compare interest rates, terms and costs. Pay attention to fixed and variable interest rates. Seek advice from a mortgage broker. The bank can also help. You can also get independent advice from Vereniging Eigen Huis.
Yes, sometimes you can. In that case you usually have to show additional proof that you have enough income, such as an annual contract or multiple payslips. Banks want to be sure that you can repay the loan.
The gross amount is everything you pay to the bank each month for your mortgage. The net amount is lower because you often get tax benefits, such as mortgage interest deduction.
The amount that you can borrow depends on your income, your fixed expenses and whether you have debts. Banks use government rules to calculate this amount. If you want to know exactly what is possible in your situation, seek advice from a mortgage broker.
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