Repaying your mortgage

Making additional mortgage repayments

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When making additional mortgage repayments will be advantageous

When you make additional mortgage repayments, you will be repaying more than the agreed monthly payment. This may prove beneficial to you. It will bring down your mortgage debt and may lower your monthly mortgage costs. Find out whether making additional mortgage repayments would be an interesting option for you.

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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.

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.

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.