Increasing your mortgage
Find out how it works
If you’re planning to renovate your home or make it more sustainable, or you need extra money for a major outlay, increasing your mortgage could offer the solution. Take a look at the different options and calculate your increase with our handy calculation tool.
Calculate your increase
Use our handy tool to work out whether you can increase your mortgage. You can easily adjust amounts in your personal environment to see how it affects your monthly payment. We are always there to help you via live chat or Direct Video Banking.
Increase your mortgage in 5 steps
Calculate your options
Log in to Internet Banking to view your mortgage details. That way, you will know in minutes:
- whether your personal situation allows you to increase your mortgage;
- what your new monthly outgoings will be;
- what it will cost to increase your mortgage.
If you don’t have Internet Banking access, make an appointment to increase your mortgage.Start your application
If you want to increase your mortgage, there are two ways to do this:
- Increase it yourself You can ask for help at any time via chat or Direct Video Banking. NOTE! If you decide to arrange the increase yourself, you will need to complete the knowledge and experience test.
- Mortgage advice During the consultation, you and an adviser discuss how to keep your mortgage affordable and how the risks of occupational disability, unemployment and death affect your mortgage costs.
Prepare for your appointment
Upload the required documents to your personal environment. That will ensure you are well prepared, and the adviser will be able to process your application.
If you’ve decided to increase your mortgage yourself, as well as uploading your documents, you will also have to take the knowledge and experience test in the personal environment. If you get stuck, we are always there to help you via live chat or Direct Video Banking.
Discuss your application
If you’ve decided to increase your mortgage yourself, make your appointment after taking the knowledge and experience test. The next step is to go through the application with the adviser via Direct Video Banking, but you are not given any advice. After that, you will receive an offer. If you have opted to take advice on increasing your mortgage, an adviser will go through the advice report with you. After that, you will receive an offer.
Sign your offer
Once the application is complete, you sign the offer. You will receive the funds in 3 to 5 working days.
Increasing your mortgage with an adviser
- Appointment with an adviser via Video Banking
- The adviser helps you put your mortgage together
- The adviser highlights the characteristics and any risks
- The adviser explains the advice report to you
- Advice and handling fees from: € 2,025
Increase your mortgage yourself
- Assistance via Video Banking
- Put your own mortgage together
- You know all about the characteristics and risks
- No personal mortgage advice
- Handling fees from: € 725
More about increasing your mortgage
Getting a further advance on your mortgage or taking out a second mortgage
- Further advance
If your mortgage is registered with the notary for an amount higher than what you are currently borrowing, you can increase your mortgage to the amount it is registered for at a later date. Of course, we will check whether you can afford it. You do not need to go to a notary to do this. This is called a further advance. - Taking out a second mortgage
If your mortgage is not registered for a higher amount with the notary, it might be possible to take out a second mortgage. However, you will have to go back to the notary to have a new mortgage deed drawn up and filed again with the Dutch Land Registry (Kadaster). In that case, you will be charged notarial and registration fees.
What are the key aspects of increasing your mortgage?
- You receive extra funds for a renovation or home improvement, without having to draw on your savings.
- Your monthly mortgage payments go up.
- Your mortgage often falls into a higher rate category.
- You must demonstrate the current value of your property.
- The mortgage interest on the new increased part of the loan is deductible under certain conditions from income tax (Box 1) if you use this part of the loan for a renovation.
- You usually pay additional fees.
What are the conditions for increasing your mortgage?
You can only increase your mortgage if your home has equity (surplus value), or if you are going to renovate your house and increase its value. Whether and how much extra you can borrow depends on your home’s market value, your current mortgage and your income. We will check again whether your new mortgage amount is in line with your income. If you increase your mortgage, your monthly payment will go up. If you increase your mortgage, your mortgage may fall into a higher risk category.
What does it cost to increase my mortgage?
Valuation fees
You will usually pay these fees when you increase your mortgage. These are the fees for a complete valuation report or for a desktop valuation. The desktop valuation is possible under certain conditions when increasing your mortgage.
Notary fees:
You only pay notary fees if you take out a second mortgage. If the increase doesn’t exceed the amount your mortgage is registered for, you don’t need to go to the notary again.
Advice and handling fees:
You only pay an advice fee if you want to take out a mortgage with advice. You always pay a handling fee, also if you want to increase your mortgage.
Dutch National Mortgage Guarantee (NHG):
This fee is always charged when you take out a second mortgage (new loan part) with the Dutch National Mortgage Guarantee (NHG). In that case, you pay a fee to take out the NHG (mortgage guarantee fee). You will only receive a favourable (NHG) interest rate on the new (increased) part of the loan. Also, in case of foreclosure (a forced sale if you can no longer pay your mortgage), the NHG only guarantees the new (increased) part of the loan. The guarantee means that the Dutch Homeownership Guarantee Fund (Stichting Waarborgfonds Eigen Woningen) covers any residual debt.
Am I entitled to the mortgage interest tax deduction?
If you are borrowing the money for a renovation, under certain conditions you can deduct the associated interest and costs from your income for tax purposes. This applies to both the personal loan and a mortgage. You must demonstrate to the tax authorities that you have used the money for the renovation.
The conditions for deducting the interest on your mortgage increase are:
- the property is your main residence;
- you use the increase in your mortgage to improve or make your home more sustainable;
- the increase in your mortgage is an annuity or linear mortgage;
- you repay it over a maximum of 30 years;
- the interest for the part of the mortgage you spend on other things is therefore not deductible.
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.