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Mortgage for rental property

The option of letting your current home

Do you have a mortgage with ABN AMRO and are planning to move? Want to rent out your current home? Then the Mortgage for rental property might be right for you. This mortgage gives you our permission to rent out your property, ensuring you comply with the mortgage terms. Read the information below and make a calculation to see what this means for you.

The benefits and things to bear in mind: Mortgage for rental property

Benefits

  • As an existing ABN AMRO client, you can keep your current mortgage contract with just a few adjustments, so that you will not be charged the early repayment fee.
  • Remortgaging to a Mortgage for rental property, also known as a ‘consent-to-let mortgage’, does not require a trip to the notary.
  • The Mortgage for rental property has a long term of a maximum of 30 years.
  • If the home has an energy label A or B, you can borrow more, up to 80% of the market value when let. With a lower energy label (C, D, etc.), the maximum amount you can borrow is 75% of the market value when let.
  • A partially interest-only loan is also an option.

What to bear in mind

  • The Mortgage for rental property is subject to an interest rate markup.
  • If your current mortgage includes the National Mortgage Guarantee (NHG), this guarantee will cease to apply. This means that you will pay the interest rate without the National Mortgage Guarantee, which may be higher than your current rate.
  • Letting your property is sometimes subject to permission from the local authority or, if it is an apartment, the Owners’ Association.
  • You can remortgage to a Hypotheek voor verhuur rental mortgage if you meet our acceptance rules, which we will assess during the application process. We will also factor your current housing expenses into our calculation of how much you can borrow on a Hypotheek voor verhuur rental mortgage.

Make a calculation

What to find out whether a Mortgage for rental property could be interesting for you and see how it would work out financially in your case? Log in to your personal mortgage environment on Internet Banking and easily calculate your financing. 

Start the calculation (in Dutch) Don’t have Internet Banking? Arrange for us to call you

More about the Mortgage for rental property

Is the Mortgage for rental property right for me?

Eligibility for the Mortgage for rental property is subject to several criteria. The main ones are listed below. 

  • You already have a mortgage with ABN AMRO. 
  • You can currently take out one Mortgage for rental property with ABN AMRO.
  • You can have no more than two properties that you rent out.
  • You are the sole owner of the property you want to finance or you own it together with your tax partner.
  • The total rental income you receive must not exceed €35,000 per year.
  • You live in the Netherlands. 
 
The Mortgage for rental property is not intended for the following cases: 
  • If you are looking to build up a portfolio of more than two rental properties.
  • If you (if applicable) do not have permission from the local authority and/or Owners’ Association to let the property.
  • If your net rental income stays below the monthly mortgage payment.
  • If you intend to let only to students or multiple households in one property.
  • If you intend to let the property as a holiday home.
Why is mortgage advice compulsory with the Mortgage for rental property?

If you convert your ABN AMRO mortgage into a Mortgage for rental property, you will get specific advice. It is very important to us that you get good advice on the risks and other things to bear in mind with respect to your Mortgage for rental property. This is where our specific advice comes in. 

ABN AMRO will advise you on: 

  • The mortgage type(s) 
  • The maximum amount you can borrow
  • The monthly mortgage payments for your Mortgage for rental property
  • A few key risks and other things to bear in mind when taking out a Mortgage for rental property and the risks involved in letting a property, such as (temporary) rental voids. 
ABN AMRO will not advise you on:
  • The risks in case of death, incapacity for work, unemployment, divorce or separation, and retirement. These eventualities will, however, be addressed in the advice. We will assume that, when you decide to keep the rental property in these cases, the rental income will continue to be enough for you to make the monthly payments for the Mortgage for rental property.
  • Products other than the Mortgage for rental property, such as your insurance policies or investments.
  • We will not give you any advice either on whether or not letting your property is a good fit with your current situation.
  • All the risks and other things to bear in mind with respect to the Mortgage for rental property and letting a property that apply in your situation. While ABN AMRO will go into key risks and other things to bear in mind in its advice, the advice will not be fully customised to your specific situation. 

Mortgage advice is subject to a fee. You are not under any kind of obligation to take ABN AMRO’s advice. You can also go to an independent mortgage adviser for advice on your Mortgage for rental property.

Will I still be eligible for the National Mortgage Guarantee (NHG)?

The National Mortgage Guarantee does not cover mortgages on properties that were bought or retained to let. If you want to let your property anyway, the mortgage with National Mortgage Guarantee will have to be converted into one without the National Mortgage Guarantee. After remortgaging, the guarantee will cease to apply. This will have two important consequences: 

  1. You no longer get the special interest rate for mortgages with the National Mortgage Guarantee. Your new mortgage interest rate may, therefore, be higher than the current rate with the National Mortgage Guarantee.
  2. The terms and conditions of the National Mortgage Guarantee will no longer apply.
What are the additional costs?

Besides the monthly payment for your Mortgage for rental property, there are (extra) costs involved in letting a property. These can be costs you pay in one go, or recurring costs. Examples of costs include the following: 

  • Buildings insurance.
  • Maintenance of the property.
  • The Owners’ Association fee when letting an apartment.
  • Costs incurred when tenants do not meet their obligations.
  • Taxes. 
Tip: it is a good idea to always maintain a financial buffer from which you can cover foreseen and unforeseen costs. In their advice, your mortgage adviser will also go into the costs, risks, and other things to bear in mind when letting a property and taking out a Mortgage for rental property.
Can I take out the Mortgage for rental property in combination with Euribor?

No, it is not possible to take out a Mortgage for rental property in combination with a Euribor loan component. This is excluded.

Can I remortgage to a Mortgage for rental property if I am moving abroad?

If you move abroad, you can remortgage to a Hypotheek voor verhuur rental mortgage, subject to certain terms and conditions. Please contact your (independent) adviser to find out more. Finding a tenant, managing your property and taking care of the associated administration can be quite a task. If you move abroad, you’re required to engage a property manager. A company that could support you in this is Welocate .

What do I need to bear in mind when letting my property?

In order to let the property, you need to have permission from us and possibly also from the local council and/or owners’ association (Vereniging van Eigenaren). 

There are points for attention and risks related to both the Hypotheek voor verhuur (rental mortgage) and the letting of your property. Your (independent) adviser will discuss this with your during the advisory process and will give you a brochure listing the main risks and points for attention.

Reasons for taking out a mortgage with ABN AMRO

Direct contact with a home expert

Videoconferencing makes it easy. Simply use your computer, smartphone or laptop.

Expert in Expats

Receive personal, expert mortgage advice to help you make the best decisions.

Discount on your mortgage interest

Client discount of up to 0.2% if you have an ABN AMRO payment package. And a sustainability discount of up to 0.15% when you buy an energy-efficient home or take further sustainability measures.