Expat Mortgages will be holding a housing and mortgage seminar for Internationals on 4 March in Groningen
by Thomas Ansell
Buying property is one of the most historically-embedded expectations of adulthood. Whilst major cities across europe and the world are becoming more and more expensive, regions such as the Northern Netherlands are more accessible than any large cities. This is especially true when it comes to the current economic conditions in the Netherlands; with historically low interest rates making it more affordable to get a mortgage.
We sat down with the Margriet Zwanenburg from Expat Mortgages to discuss house-buying, gaining a mortgage, and how to find help.
The Northern Times: How soon could someone get a mortgage after moving to the Netherlands?
Margriet Zwaneburg: “Almost immediately! Sometimes a bank will tell people that they need to live here for at least six months, but that’s only a company policy. There are lots of other providers that would be able to help as soon as you have an income and BSN number here. Another thing people often think is that they need a permanent contract, but employers can write out a statement of intention, which works in place of a permanent contract.”
TNT: What sort of mortgages are available in the Netherlands? And are there any hidden costs?
MZ: “You can get a mortgage for 100% of the value of your property, but you do have to cover the buyer’s costs yourself. These are normally between 5 and 6 per cent of the purchase price. People often don’t know that your one-time costs are tax-deductible, and that the interest you pay on your mortgage is also tax deductible at this time.”
TNT: Do you have any tips for speeding up the process?
MZ: “In general, there aren’t too many limits on internationals buying a property. It may be beneficial to bring some readily-accessible money, because you can then put this forward towards the mortgage and begin with a lower interest rate. Any money you contribute up-front means that you are a lower risk for the provider, so you will be able to move forward, faster.”
TNT: How can Expat Mortgages help?
MZ: “Well, despite how accessible getting a mortgage in the Netherlands as an International is, the process can be quite complex, and not entirely easy to follow if you are neither a Dutch speaker or experienced with the mortgage process. In our first meeting, though, we will explain everything about the mortgage and property-buying process. We will help you check for the best conditions and rates- we’re well-placed to do this because we are a mortgage broker ourselves, and we will translate the offer into English for you too.”
TNT: And how could someone access the tax-relief on my mortgage?
MZ: “We can help with that too! We’ve got a great network of tax advisers and financial specialists that can help you with the tax rebate on your one-time costs, and also give you advice on claiming back your interest. Finally, we always try to accompany our clients to the notary to celebrate the new house!”
TNT: What about if I have some quick questions?
MZ: “We have an upcoming workshop on the house-buying process on March 4 in the city of Groningen at the Launch Café starting at 17:00 hour, but we are also present at the International Welcome Center North most Monday’s, between 10:00 and 14:00”.
Margriet Zwanenburg will be presenting an expat mortgages workshop on March 4 at the Launch Café in Groningen (Herstraat 106), from 17:00 to 19:00, and thereafter every first Wednesday of the month (also at the Launch Café). To sign up, just head to the Expat Mortgages website, and to check when Margriet will be present at the IWCN (Gedempte Zuiderdiep 98) in Groningen, check out the IWCN website.