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Change your mortgage interest rate

Discover your options

Do you want lower monthly expenses? More financial security? Or swap your variable interest rate to a fixed rate? You can change your mortgage interest quickly and easily in Internet Banking or the ABN AMRO app.

4 options for changing your mortgage interest rate

1. End of the fixed interest rate period

If you’re approaching the end of your fixed-rate period, you can make an appointment to discuss your new mortgage interest rate. We’ll make you an offer three months before the fixed-rate period is due to end. You can use this time to work out whether your mortgage is still right for you. It’s the perfect time to change one or more loan parts of your mortgage without paying a fee, and maybe lower your monthly payments.

Always review the different loan parts of your mortgage carefully. Is this a good time to pay off or transfer your mortgage perhaps? Can you get a client discount and/or sustainability discount on your new mortgage interest rate? What are the pros and cons of a fixed rate versus a variable interest rate?

2. Changing the rate category (risk surcharge)

  • A risk surcharge is an extra interest percentage on top of your basic mortgage interest rate.
  • The interest rate category determines how much risk surcharge you pay. The higher the risk category (i.e. the more you borrow in relation to the value of your house), the higher the risk surcharge.

 

If the value of your home has gone up or you have made extra repayments, your mortgage might qualify for a lower rate category and you will perhaps pay less interest. In certain cases, we will adjust the rate category for you as a service. You can also calculate and change your rate category yourself online.

3. Interim interest rate change

It is possible to change the fixed interest rate on a mortgage during the fixed-rate period, but you may have to pay a fee if you do. This is because we are forfeiting income that we had expected to earn from interest. There are two ways of paying the fee:

  • Incorporate the fee into your new interest rate. This is called interest averaging. You can opt for a new fixed-rate period of five or ten years.
  • You can pay the fee in one go, with your savings, for example. You won’t pay the interest averaging surcharge, but you will be charged a single large amount.

If you want to change your interest rate mid-term, go over your options with a mortgage adviser. The fee can very expensive, so make sure that the lower interest rate and new fixed-rate period make it financially viable.

4. Changing from variable to fixed-rate interest

If one or more of your loan parts have a variable interest rate, you can change them to a fixed interest rate at any time, at no extra cost. You can also repay a loan part with variable interest prematurely without being charged a fee.

To find out whether a fixed interest rate is right for you, take a look at the pros and cons of variable versus fixed-rate interest.

We are happy to help

To find out whether it’s a good idea for you to change your mortgage interest, make a free, no-strings-attached appointment with one of our advisers.

FAQs about changing mortgage interest rates

Reasons for taking out a mortgage from ABN AMRO

Stay on top of your mortgage

Track your mortgage on Internet Banking or in the ABN AMRO app. It’s secure and easy.

Make changes to your mortgage yourself

From changing the interest rate to making additional repayments. Making changes to your mortgage couldn’t be easier. You can do it yourself online.

Videoconferencing with an adviser

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

Mortgage self service