In these coronavirus times, it’s sometimes hard to keep your head up and stay positive. The pandemic has some serious impact on all of our lives. And by the looks of, we are not getting rid of that yet.
But there is some good news too. And we are happy to talk you through it.
2021 WILL OFFER POSSIBILITIES FOR FIRST TIME BUYERS
The Christmas Holidays always prove to be a great time for making plans for the coming year. Drink less alcohol, find a job that really gets your blood pumping and plan that amazing journey to…. (hopefully it will be possible this year)
All that lockdown time you spend at home, combined with the end of the year reflections might even trigger you to find a new place. A place where you can live, work and simply enjoy life even more.
Are you dreaming of a new place? Then we have got some good news for you! Because 2021 can be a good year to buy a home.
Last year, the papers and the internet were full of articles about how important it is to give newcomers to the housing market a better chance at buying a home. The Dutch government responded to this!
WHAT COULD THIS MEAN FOR YOU?
There are 3 important changes to the Dutch mortgage system that will get you some extra buying power.
- First time buyers will pay no Transfer Tax
In the Netherlands there is a transfer tax of 2% when you buy an existing home. This 2% transfer tax will lapse for first time buyers with an age of up to 35 years. And from April 1th a purchase price up to € 400.000,- will be an additional condition. This can save you thousands of euros.
Example: suppose you buy your first house for € 375.000 and you are younger than 35 years old, then you will have an advantage of € 7.500 compared to people older than 35 years. - Your double income loan capacity just increased
Do you want to buy a house with your partner? Then your maximum borrowing capacity is partly based on loan to income. From January 1st 2021, lenders may include 90% of the lowest wage in the calculations. This is 10% more than in 2020!
Example: suppose you earn € 80.000 a year and your partner earns € 70.000. In 2020 your allowance would’ve been € 136.000. With the new regulations, the allowance amounts to € 143.000. This means a higher borrowing capacity. - The NHG (Dutch National Mortgage Guarantee) increases up to e 325.000
If you buy a home up to € 325.000, you can claim the National Mortgage Guarantee. The NHG is unique in Europe. It helps you get a responsible and affordable mortgage. Problems meeting your payments beyond your control? The NHG will provide a safety net for you and your mortgage lender. And when you buy a home with NHG, your interest can even drop to 1.05% for a fixed 10 years (currently).
AS KLÅR, WE ALSO HAVE OUR DREAMS
Our dream is and always will be: making people happy when they buy a home. And we’d love to help you in 2021! This means a very good inventory of your options and then a relaxed process when arranging your mortgage.
Do you have questions about mortgages, your financial possibilities or would you like to spar about how to make your dream reality? Don’t hesitate to contact us.
We’re here to help!
Do you have any questions?
