Using
excess value

Did you know you can use your excess value?

Excess value? Is your property worth more than your mortgage? This is called excess value. You can use this excess value if you want to!

People have up to 40% excess value on their property due to the increase of property prices! And the interest rate is still very low.

Make the most of this by using your excess value. Curious to find out how much of your excess value you can use and at which interest rate? Use the calculator below.

Calculate within 1 minute if you can use your excess value

Calculate within 1 minute if you can use your excess value 

  • Use the value of your property
  • Non-binding
  • Within one minute

 

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How does using your excess value work?

Using your excess value means you take out a new mortgage or you increase your existing mortgage. The value of your property will be transferred to your bank account. We call this redeeming excess value.

You can use the excess value for large expenses, an investment or as a gift. 

This might be interesting for a lot of people as prices of houses have gonne up in recent years and the interest rate is still low.  

 

When can you use your excess value? 

  • The value of your property is higher than your mortgage
  • You earn enough to be able to afford a higher mortgage

Can I also benefit from the excess value on my property?
You probably can!

House prices in the Netherlands have gone up by 40% on average in the past three years. What does this mean?

 

Increasing your mortgage means you can make the most of your excess value, which you can use for whatever you want: a nice car, investing in real estate, early retirement of a financial gift to your children or grand children.

 

The excess value can be used if the outstanding mortgage is lower than the value of your property. For example, you can use €100K excess value if your mortgage is worth €250K and your property is worth €350K. If this is possible in your situation, depends on your salary.

Why not use another type of loan?
Monthly charges are a lot lower!

A personal loan is often charged a 5-7% interest, however, the interest rate on a mortgage is approximately 2%. That’s a lot less expensive!

When using your excess value, you take out a mortgage. The bank is running a smaller risk compared to a personal loan, which means you pay less interest. You can pay off the loan over a longer period of time or take out an interest-only mortgage. As a result, your monthly charges will be lower compared to other types of loans.

 

Benefit from the low interest rate by updating your mortgage

The mortgage interest rate is still at an historic low, however it is slowly increasing again. Make the most of it while you can!

 

When doing our calculations, we also check if you can refinance your mortgage in order to reduce your monthly charges. This might make it possible to use your excess value without an increase in monthly charges.

 

Every month, you pay interest and (usually) pay off part of your mortgage. The mortgage interest rate is increasing but is still quite low! Something you can still benefit from.

 

The interest you pay has been agreed with your bank when you took out your mortgage. This doesn’t mean you are stuck with it. Refinancing your mortgage gives you the chance to benefit from a lower interest rate. This could save you hundreds of euros per month.  

 

In 2010 the interest rate was 6%, these days it is often lower than 1.5%. Taking out a new mortgage means you could pay 75% less interest compared to 2010! 

No charges upfront
we start with gaining insight in the different options

We have your best interest at heart! We will sit down and look into the most economical solution available to you. Are you happy with the possible savings you can make and would you like Vixx to handle your new mortgage? This comes at a certain rate. The notary needs to be paid and Vixx charges a consultancy fee. These charges can often be included in your new mortgage and are tax deductable.

 

We will inform you of any possible charges before we get started, to avoid any surprises at a later stage.

Vixx is an independent advisor

Once we have established that you can save money, Vixx will search for the bank whose terms and conditions meet your personal requirements. We do this as an independent party. Your advisor will compare more than 35 banks to get you the best deal.

You are our main focus

In the past, consultants were paid by the bank. This is no longer the case. As a customer, you get us involved to provide you with advise. We are here for you, not for the bank.

 

6 steps to the best deal for you

Curious to find out if you can use your excess value? Fill in the calculator in and find out. It takes less than a minute!

If the mortgage calculator indicates you can use your excess value, just leave your details or schedule an appointment with one of our consultants. We will look into your current situation and discuss your wishes during a non-binding meeting. We will provide you with tailor-made advice, as every situation is unique!

This meeting can take place where and when you prefer: at one of our offices, at your home or online.

After your meeting with the mortgage advisor, we will start searching for your most ideal mortgage! Which mortgage suits you best depends on your preferences and the conditions set by different banks. There are a lot of different mortgages, and they all have different terms and conditions:
- Interest rates
- Types of mortgage (linear, annuity, savings etc.)
- Fixed interest rate term
- Repayment
- And a lot more!

After we have looked into this for you, our mortgage advisor will provide you with a proposal on updating your mortgage.

When you are happy with this advice, Vixx will apply for a new mortgage proposal from the bank which meets your requirements. This could be your existing bank, or a different, cheaper bank.

Once the proposal is approved, Vixx will get cracking! We stay in touch with the bank and make sure all communication and necessary paperwork is dealt with accordingly. All you have to do is hand in the documents, Vixx takes care of everything else.

After the new mortgage contract has been signed, this needs to be registered at the notary. The notary will ensure your new mortgage is registered at the Dutch Cadastre, Land Registry and Mapping Agency and your old mortgage is no longer valid.

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Any questions? Just get in touch. We look forward to talking to you!

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Curious to find out if you can use your excess value? Fill in the calculator in and find out. It takes less than a minute!

Follow in their footsteps!

Buying a second home (abroad)

Use your excess value

Marco and Elisa had been thinking about buying a property in Spain, where Elisa is from. But how do afford a second home?

 

As the housing prices have gone up considerably, Marco and Elisa have got excess value on their property in the Netherlands. Their salary has also gone up, and the interest rates have come down. This means they can get a bigger mortgage compared to ten years ago.

 

Vixx advised them to use part of the excess value by using a partly interest-free mortgage. This reduces their monthly charges. Renting out their apartment in Valencia as well enables them to pay off their mortgage. It gives them the chance to enjoy their dream home in Spain without an increase of their monthly charges.

Early retirement

Use your excess value

Harald and Emma wanted to retire early but continue living comfortably. They won’t receive their pension and National Old Age Pension until they are 67. How is it possible to retire when you’re only 63?

 

They were able to free up a nice amount of money by using part of the excess value on their property. Enough to carry them over until they are 67.

 

Vixx compared all offers and closed a mortgage at the most economical provider. Harald and Emma can take early retirement and continue travelling to see the world!

Help your children buying a property

Use your excess value

Lily has two children who would like to buy their own properties. But it’s not easy for them to get a foot on the property ladder.

 

Talking to Vixx made Lily realise there was a possibility after all! There was a considerable excess value on her property due to an increase of the value of her house and the payments she has made so far. Also, her interest rate was a lot higher (5.4%) than the current interest rate.

 

Vixx arranged a different interest rate on her mortgage and the chance to use part of the excess value. Her daughter borrowed this amount via a so-called family mortgage. As a result, her daughter was able to benefit from her parents’ financial capacity. As the mortgage was transferred to another mortgage provider, Lily’s monthly charges did not go up.

In order to protect our clients’ privacy, these profiles are fictional characters based on actual results.

Calculate within 1 minute if you can use your excess value

  • Insight in the money you can save
  • Non-binding
  • Within one minute
Calculate now

Questions on the Vixx MortgageUpdate

An experienced consultant who spends time looking into your personal circumstances, will be able to get the most out of your mortgage. We handle tens of mortgages on a monthly basis, and therefore have extensive knowledge on the various options. The mortgage market holds no secrets for us, enabling us to provide you with the best advice available. We compare mortgage suppliers, making sure you get the best deal.

Refinancing your mortgage might be interesting when your current interest rate is higher than the interest rate provided by mortgage lenders. Also, your long-term profit should be higher than the fine you pay to get out of your fixed-interest rate period. The sum of this fine depends on your personal situation.

The costs depend on your personal situation. The charges include a consultancy fee and possibly a fine for settlement of the fixed-interest rate period. It is possible to include this fine when financing your new mortgage. It is difficult to establish the exact costs without closely looking at your personal circumstances, please get in touch and we will provide you with an estimate free of charge.

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