Transferring your mortgage

About mortgage interest

• You can only transfer fixed-rate interest to your new house. Variable interest is not transferable.
• The interest rate for one loan part (or part of a part) can be transferred, or the interest rate for all of the loan parts. Good to know: once the mortgage deed has been executed, you can no longer transfer a loan part. If you want to increase your mortgage after you’ve been to the notary, you can. You will then pay the interest rate that applies at that time.
• The original start date of the interest contract will continue to apply for the loan part that has been transferred.
• You may transfer the interest rate on the old loan parts if the old mortgage was covered by the National Mortgage Guarantee (NHG) and the new mortgage is not, and vice versa.
• Very occasionally, you will be allowed to transfer a loan part with Euribor interest. Ask your mortgage adviser for advice.
• You can only transfer your mortgage in its current form. If you have a Budget Mortgage, for example, you can’t change it to a Home Mortgage, or the other way round.

More about mortgage interest relief

• In certain situations, you are entitled to mortgage interest relief for two houses for up to three years:
• If your old property is empty and for sale, and you live in your new home. The interest relief applies to the year in which your home became empty and was put on the market, and the next three years. Please note! If you rent out your property (including temporarily), different tax rules apply. For details, check the website of the Dutch tax authorities (in Dutch).
• If you are still living in your old property because your new house is under construction or being renovated. Tax relief on the interest applies if your new home is set to be your main residence in the year you bought it, or in the next three years.

In this situation, if you have an ABN AMRO Home Mortgage, you have six months from the date of selling the house and paying off the old mortgage to apply to the bank for a new loan for a house. In the case of a Budget Mortgage, you have three months. This means that you must have received an interest offer for the new house.

In a lot of cases, you can keep the same type of mortgage for your new mortgage.

• If you currently have an interest-only mortgage, or one whereby you only repay part of the principal sum, you can opt for a different type of mortgage that does involve repayments, such as an annuity mortgage or a linear mortgage. Before we offer you a new mortgage, we will recalculate your ability to pay on the basis of your current income and the value of your new house.
• If your old mortgage is an interest-only mortgage, you will not automatically be able to transfer it.
• You can only transfer your mortgage in its current form. If you have a Budget Mortgage, for example, you can’t change it to a Home Mortgage, or the other way round.
• If you need to increase your mortgage to buy your new home, you can take out a new loan part (or parts) for the extra amount, with the type of mortgage of your choice. Current interest rates will apply.

Yes, this can be an option. You’ll then have:

• a mortgage for your old property, and
• a mortgage for your new house,
• and possibly a bridging loan too.

Of course, we will check whether you can afford double mortgage repayments and we’ll assess the expected proceeds from the sale of your old home. We need a valuation from an estate agent (standard or desktop) to assess this. If you want to use the moving scheme for one or more loan parts of your current mortgage, please seek advice from a mortgage adviser. There are various options open to you.

If you divorce or separate, you can both transfer part of the old joint mortgage (including the interest rate) to two new, separate mortgages. You must have sold your current home and you must both move to different properties. If one of you stays in your house, only one of you will be allowed to keep the current interest contract.