Repaying your mortgage

Making additional mortgage repayments

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You can easily arrange extra repayments yourself online

First see if it is interesting for you.

  1. Log in to Internet Banking and select your mortgage in your product overview
  2. Click on the 'extra repayments' link
  3. Choose the loan part on which you want to pay extra
  4. Try a repayment amount and see what you get
  5. Only when you sign with your e.dentifier, you definitively pass on your extra repayment.

Also read how extra repayments work in the Mobile Banking app.

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What are additional mortgage repayments?

  • Repaying more than the agreed monthly payment or
  • Repaying part of your interest-only, savings-based, endowment, or investment-linked mortgage.

For most mortgage types, additional repayments are easy to set up. Do it yourself on Internet Banking or in the Mobile Banking app.
With a number of mortgage types, such as a (bank) savings mortgage, you may need advice in deciding whether additional repayments are advisable for you.

Add your mortgage in Internet Banking

  1. Log in via Internet Banking and click on 'settings'
  2. Under "Personalize" choose "View accounts change"
  3. Is your mortgage listed in between? Drag this up in the overview.
  4. Is your mortgage not listed? Then contact us or drop by the office.

No Internet Banking yet?

You can easily request Internet Banking with your e.dentifier. Don't have an e.dentifier yet? Request this first. That takes a maximum of 2 working days.
No current account at ABN AMRO yet? Then you can also pay extra by transfer. In that case, enter the description: 'Extra repayment, loan part:' number of the loan part to which you want to pay extra '.

Benefits and drawbacks of additional repayments

Benefits of additional repayments

  • Your mortgage loan amount will decrease
  • The monthly payment will generally be lower
  • In some cases, your interest rate will be lower as you move to a lower tariff class
  • Fee-free additional mortgage repayments every year
  • Reduces the risk of a mortgage shortfall

Drawbacks of additional repayments

  • Less mortgage interest deduction
  • Less money to spend, less savings
  • Additional repayments may be subject to a fee
  • If your mortgage is linked to a savings account or insurance policy, additional repayments may negatively affect your net monthly mortgage costs
  • May lead to you losing the right to profit from tax-related interest deduction for specific mortgages types
  • Making additional mortgage repayments may give tax consequences. Whether or not additional mortgage repayments are an interesting option for you depends on your personal situation
Tip

How often do you wish to make additional repayments?

Additional repayments

  • Make repayments when it suits you
  • You will get instant confirmation of your new monthly payment
  • Lower your mortgage debt

Additional monthly repayments

  • Change or cancel at any time
  • From as little as €25 a month
  • Lower your mortgage debt
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How much can you additionally repay?

Every year, you can generally repay 10% of your mortgage without incurring any fees. Your mortgage terms and conditions will specify the exact amount.

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Do you have an interest-only mortgage?

If so, you will only pay interest during the term of your mortgage. You will not be making any repayments. If you do not want to have to pay off the loan with one single lump-sum payment at the end of the term, you can choose to make repayments or convert your mortgage into a Level-Payment Mortgage (annuity) or a Straight-Line Mortgage (lineair).

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Is yours an endowment mortgage or a Bankspaar Hypotheek mortgage?

Then you can also opt to pay additional funds into the savings account or insurance linked to your mortgage. This way, you will can have saved up the final amount sooner and possibly can repay your mortgage ahead of time. Such additional payments are subject to tax rules. It is therefore a good idea to get advice first.

Frequently asked questions about repaying your mortgage

Why can’t I see my additional repayment on My Mortgage?

If you sign your request on Internet Banking before 11.59pm on the 26th of the month, your mortgage loan amount and monthly payment will be updated on the 1st working day of the following month. If you sign later, your mortgage loan amount and monthly payment will be updated on the 1st working day of the month after that. If this means that you will temporarily be paying too much interest, we will, of course, refund overpaid interest. We will deduct the overpaid amount from your new mortgage loan amount. Your additional repayment will be debited from your account immediately and you will receive confirmation in your Bankmail.

My mortgage is registered in two names. Does my partner need to approve the additional repayment?

Your partner does not need to approve additional repayments for which you are not charged a fee. If you want to make an additional repayment for which you are charged a fee, your partner will need to approve the transaction, so it will appear in his/her task list on Internet Banking.

How often can I make additional repayments?

You can make additional repayments for multiple mortgage loan parts. First of all, enter your additional repayment for loan part 1 on Internet Banking. Do not confirm the transaction at this stage. Next, enter the additional repayment for loan part 2 and any other loan parts if applicable. You can then confirm all of the additional repayments in one go on Internet Banking. 

You can make a new additional repayment for 1 or more mortgage loan parts from the 5th working day of the following month.

How will an additional repayment affect my monthly payment and rate category?

When you make an additional repayment, your next monthly overview will show you the impact on your monthly payment. Your mortgage term will remain unchanged. The rate category will not be changed automatically, but you can ask to have your rate category adjusted. This is because your home’s market value will not be updated automatically.

How much will I need to pay in costs if I repay more than 10% of my mortgage?

If you want to repay more than 10% of the original principal for a loan part in a single year, you may be charged a fee (previously known as ‘penalty interest’). Your mortgage terms and conditions tell you how much you can repay each year without being charged a fee.

Why does there still need to be an amount of €500 left if I want to repay the whole mortgage?

Full repayment can only be made through an employee or a repayment invoice. If you want to pay off your mortgage in full, please make an appointment through Video Banking, by telephone or at one of our branches.

Can I make an additional repayment for multiple loan parts at the same time?

Yes, you can. You can check the impact of an additional repayment on each loan part and then approve the transaction. After making the first additional repayment, you can make a new additional repayment for a subsequent loan part. The first additional repayment will be added to your task list. You then need to sign for all of the additional repayments in one go. You cannot approve the first additional repayment one day and then the second the next day, for instance.

I want to make a free additional repayment using the residual proceeds from my previous home. How do I do that?

Get in touch with us or visit one of our branches. You will need your completion statement for this.

My home is in negative equity. How much can I make in additional repayments without being charged?

You can repay up to 100% of your home’s value for the purposes of the Dutch Valuation of Immovable Property Act (WOZ-waarde) without being charged. Get in touch with us or visit one of our branches. You will need your WOZ statement for this.

Frequently asked questions about repaying your mortgage

If you sign your request on Internet Banking before 11.59pm on the 26th of the month, your mortgage loan amount and monthly payment will be updated on the 1st working day of the following month. If you sign later, your mortgage loan amount and monthly payment will be updated on the 1st working day of the month after that. If this means that you will temporarily be paying too much interest, we will, of course, refund overpaid interest. We will deduct the overpaid amount from your new mortgage loan amount. Your additional repayment will be debited from your account immediately and you will receive confirmation in your Bankmail.

Your partner does not need to approve additional repayments for which you are not charged a fee. If you want to make an additional repayment for which you are charged a fee, your partner will need to approve the transaction, so it will appear in his/her task list on Internet Banking.

You can make additional repayments for multiple mortgage loan parts. First of all, enter your additional repayment for loan part 1 on Internet Banking. Do not confirm the transaction at this stage. Next, enter the additional repayment for loan part 2 and any other loan parts if applicable. You can then confirm all of the additional repayments in one go on Internet Banking. 

You can make a new additional repayment for 1 or more mortgage loan parts from the 5th working day of the following month.

When you make an additional repayment, your next monthly overview will show you the impact on your monthly payment. Your mortgage term will remain unchanged. The rate category will not be changed automatically, but you can ask to have your rate category adjusted. This is because your home’s market value will not be updated automatically.

If you want to repay more than 10% of the original principal for a loan part in a single year, you may be charged a fee (previously known as ‘penalty interest’). Your mortgage terms and conditions tell you how much you can repay each year without being charged a fee.

Full repayment can only be made through an employee or a repayment invoice. If you want to pay off your mortgage in full, please make an appointment through Video Banking, by telephone or at one of our branches.

Yes, you can. You can check the impact of an additional repayment on each loan part and then approve the transaction. After making the first additional repayment, you can make a new additional repayment for a subsequent loan part. The first additional repayment will be added to your task list. You then need to sign for all of the additional repayments in one go. You cannot approve the first additional repayment one day and then the second the next day, for instance.

Get in touch with us or visit one of our branches. You will need your completion statement for this.

You can repay up to 100% of your home’s value for the purposes of the Dutch Valuation of Immovable Property Act (WOZ-waarde) without being charged. Get in touch with us or visit one of our branches. You will need your WOZ statement for this.

Reasons for taking out a mortgage from ABN AMRO

Stay on top of your mortgage

Track your mortgage on Internet Banking or in the Mobile Banking 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.

Help from an adviser

If you have any questions about mortgages, simply go online and schedule an appointment with an adviser through Video Banking or over the phone.