Almost everyone needs a mortgage to purchase his dream home. The size of your mortgage depends on rules determined by the government. Standards are set out, which are used to calculate the maximum amount you can borrow.

A number of these standards have been adjusted. It will be easier for first time buyers, and for people who already own a property, to apply for a higher mortgage. Below you will find the most important changes in 2021.

1. No capital transfer for buyers younger than 35 years old

Are you younger than 35? Then you won’t have to pay capital transfer if buying a house after the 1st of January 2021. As opposed to other plans, this rule not only applies to first time buyers but to everyone younger than 35. Until the 31st of March 2021, it does not matter how expensive your new house is. After 1st of April 2021, the exemption is only applicable to houses costing more than €400,000. This will make a difference of 2% on the purchase price of your house.

2. Student loan less important

Have you got a student loan? This will be of less importance when calculating the maximum mortgage you can apply for in 2021. At present, the bank uses a set percentage. In 2021, an average percentage of the past five years will be used. This is great news as interest rates have been historically low for a considerable time.

“Almost everyone can borrow more, thanks to these new standards!“

3. Limit of Dutch National Mortgage Guarantee (NHG) increased

The limit for Dutch National Mortgage Guarentee backed mortgages has increased from €310,000 to €325,000 in 2021. If you are planning on carrying out any (additional) energy-efficient measures, the limit is set at €344.500. With a Dutch National Mortgage Guarentee backed mortgage you will pay up to 0.6% less interest on your mortgage.

This comes in useful when purchasing a house in this price range. Your maximum mortgage can increase when your monthly costs are decreasing.

4. Second income accounted for at 90% in 2021

A second income is accounted for at 90% in 2021, as opposed to 80% in 2020. However, this does not mean dual-income couples are allowed to borrow more money, as it also depends on the housing expense ratio from Nibud. This will stipulate which percentage from your income you can use for your mortgage. Nibud can provide you with more information on this.

“Vixx will calculate the implications of the new rules, without any obligations“

5. Extra options

Besides the adjustements mentioned above, there are other options for first-time buyers to get a mortgage. For example a first-time buyers loan. Approximately 200 local councils in the Netherlands offer this chance of additional (financial) support. We can inform you if you can apply for a first-time buyers loan in your area.

Another option is financial support from your parents. They can make a gift or lend a sum of money under favourable conditions, for example in a so-called family mortgage.

6. Exceptionally low interest rates

Low interest rates. This hasn’t changed but is of great importance. As the interest rate is very low, you can borrow more money calculated on the same income than a few years ago. It can also be interesting to transfer your mortgage to reduce your monthly costs or to make money available to renovate your house.

Your mortgage?

There are quite a few changes in 2021! Handling these new rules the right way might result in the opportunity to borrow tens of thousands of euros extra and to increase the chance of buying your dream home.

Most of these new rules have not been incorporated in online tools. It might seem complicated but we can tell you exactly what these new rules mean for you personal situation.

Our first meeting is always free of charge, during which we will carry out a non-binding calculation for you. No strings attached.