A lot is happening in the field of mortgage loans and the housing market. For example, it has become easier for many older people to get a mortgage loan and it seems that starters of the housing market are being displaced by private investors.
The decision of the National mortgage loan Guarantee, to expand the possibilities for older people who use their AOW for ten years or less, promotes the flow of the housing market. Until that decision, seniors who wanted to move to a (different) owner-occupied home did not get a mortgage loan. While closing a new mortgage loan, the interest rate is often lower and the monthly expenses go down. mortgage loan lenders mainly looked at the income at that time and found the income after the pension uncertain.
When are you eligible?
With the decision of the NHG, the actual monthly costs are also taken into account. The income that is already certain after retirement is also viewed. In order to qualify for a new mortgage loan as a senior, the price of the new owner-occupied home may not exceed 265,000 euros. The monthly expenses must also be lower than for the old mortgage loan and the interest must be fixed for at least twenty years.
Do you want to know what the possibilities are or more information about a mortgage loan with NHG? Our mortgage loan department is happy to put you in touch with an independent mortgage loan advisor in your area who can tell you more about this.
A tendency in the housing market is that private individuals are increasingly buying a second home, for pension security or to let the children live there later. Especially the smaller and cheaper houses are popular with private investors.
This development makes it more difficult for starters and buyers with a modest budget. They are being pushed aside from the housing market, says the Association of Estate Agents.
1 in 10 houses, which were sold in the first quarter of 2018, were bought by private investors. This is shown by figures from the NVM. Where the market is tight, those percentages are higher. In Groningen and Maastricht for example, it is a quarter and a third respectively. In Rotterdam, The Hague and Amsterdam, one in five homes are sold to a private investor.