Do you want to buy a new house next year? Then you will have to take into account the stricter loan standards that start on 1 January 2018. The maximum mortgage loan will be equal to the property value. Other costs, such as advice and notary fees may no longer be co-financed. This also applies to homebuyers who apply for a mortgage loan in 2017, but only receive a definitive offer in 2018. The Netherlands Authority for the Financial Markets announces this. Not only the borrowing standard must be taken into account, so the key moment of the mortgage loan must also be monitored.
The income standard also changes
Not only do the loan standards change, the income standard also undergoes a change. The government is advised by Nibud on the amount of income that must be available to the maximum to meet mortgage loan payments. The law determines what percentage of the income may be spent on mortgage loan payments. The higher the fixed gross income, the more money can be borrowed.
mortgage loan offer must be tested before 2018
If you still want to come under strict lending standards, your mortgage loan must still be tested in 2017. The final mortgage loan offer must be on the doormat by no later than 15 November 2017, then there is still enough time to check whether this mortgage loan is financially feasible. Testing takes an average of 4 to 6 weeks, which means you are well on time before the new loan standards start.
mortgage loan providers can indicate in advance whether the duration of a mortgage loan application is sufficient enough to receive a binding offer in 2017. If this is not the case, then you must be informed of this in time by your mortgage loan provider. Good to know is that there is no transition period this year, as with the changes from 2016 – 2017.