As most home owners are very aware, mortgage interest rates are a major tax deduction. For those of us who are unlucky enough to pay tax, we get quite a bit of tax back when we have a mortgage to pay.
Picture this: On a sunny day (although whilst this is being written, it's raining...), after you have visited several houses or apartments, and finally, with or without the help of a real estate agent, you find exactly what you were looking for. Your dream home! Then what?
How to get a mortgage
Renting is an expensive business and especially if you intend to stay for a longer period in The Netherlands, it may be worth considering buying a house. With interest rates being low, you could find yourself paying less per month on a mortgage than on rent.
Where to start
Many Dutch newspapers produce a special “woon” section once a week – usually Wednesday or Thursday. This section will include advertisements for properties to buy as well as properties to rent.
Be aware of the pitfalls
In this article I would like to touch on some of the pitfalls of buying a home in The Netherlands. Be very careful when making an offer for a property – even verbally. ALWAYS add the caveat “subject to raising the finance”.
It is very noticeable that many lenders have changed their criteria for providing mortgages to foreign nationals. And, these are for the worse. Here, therefore, are some of the institutions with whom we currently arrange mortgages and their current criteria.
Mortgage criteria continued
Buying a house on auction
I thought I would share a fascinating experience with you.