Taking out a mortgage yourself

Imagine you’ve had an interest-only mortgage with ABN AMRO since 2009 and you’re planning to retire in 5 years. Your gross income will drop from €60,000 to around €30,000 per year.

Will your net monthly repayment change after you retire?

• Yes, your net monthly repayment will rise because you will come under a lower tax bracket.
• No, your net monthly repayment does not depend on your tax bracket.
• No, if the interest rate stays the same, so does your net monthly repayment.
• Yes, your net monthly repayment will drop if you come under a lower tax bracket.

Otto wants to change his mortgage with ABN AMRO and assess his risk of occupational disability himself. He has a permanent contract and knows that if he becomes unable to work, his income will depend on his remaining capacity to work.

Which two factors determine the amount of state benefit paid for occupational disability?

• His family situation and assets.
• His old income and his income potential now.
• His age and employment history.

Imagine you want to take out a mortgage with ABN AMRO to buy a house. Based on your income, you can borrow up to €285,000. The house costs €270,000 and the appraised value is €265,000.

What is your maximum mortgage?

• €273,500
• €270,000
• €285,000
• €265,000

Taking out a mortgage yourself is subject to several conditions.

Possible:

• You can buy a new house, or refinance, change or increase your current mortgage.
• Increasing your mortgage for consumer credit is an option, as long as you repaid this within 10 years.
• You must pass the knowledge and experience test.
• You must fully understand the risks and consequences.
• The type of mortgage, fixed-rate period and mortgage term must be entirely clear.
• The mortgage must be in line with your income, the collateral, our housing policy, the Tijdelijke Regeling Hypothecair Krediet (temporary mortgage loan scheme), and the code of conduct.
• It is important that you understand all the documents; a translation is required if you’re not fluent in Dutch.

Not possible:

• If you have insufficient knowledge or experience of mortgages, and need advice about risks such as death, unemployment, occupational disability and retirement.
• A mortgage increase for consumer credit, if the repayment term is longer than 10 years.
• If you’re self-employed and manage your own pension plan.
• If your income is not paid in euros.
• Mortgages with linked accrual products, such as endowment mortgages.
• If you get divorced or stop living together.
• If you’re not meeting the repayments.
• If the mortgage is not in line with your income, the collateral, our housing policy, the Tijdelijke Regeling Hypothecair Krediet (temporary mortgage loan scheme), and the code of conduct.

Handling fees when buying a home

• Free orientation meeting
• Executing and processing the mortgage: €725

handling fees for changing a current mortgage

• Free orientation meeting
• Increasing a mortgage: €725
• Increasing a mortgage to make sustainable home improvements: with a Duurzaam Wonen Hypotheek (Sustainable Home Mortgage): €100
• Changing a current mortgage: €325, through Internet Banking: €100
• Interest averaging €100

Please note

If you can’t provide your documents digitally, you will be charged an additional €325 in handling fees.

What your mortgage coach does

• Helps you to decide about aspects such as the fixed-rate period and type of mortgage
• Provides information about your options so you can make the right decision
• Helps you to submit documents and ensures that your application is complete and ready for a final assessment
• Stays in touch to provide and request additional information and ensures that documents are delivered on time

What your mortgage coach doesn’t do

• Doesn’t give personal advice about choosing the best type of mortgage
• If the situation becomes too complex, the application will be passed on to a mortgage adviser

Mortgage Self-Service and your mortgage coach

If you want to find out more or schedule an appointment, take a look at the step-by-step guide or make an appointment with a mortgage coach for some guidance.

Yes, that’s possible. All the costs involved in taking out a mortgage, such as advice and handling fees, are tax-deductible. You must declare them in the year that you took out your mortgage.

Discount on your mortgage interest rate