29 September 2022
Dutch Mortgage Borrowing Limit Could Change as of 2023
Egle Kemezyte
Growth Marketer
The Dutch government could limit mortgage borrowing capacity as of 2023

As the cost of living and energy rises, the Nibud (National Institute for Budget Information) is preparing its advice for the Dutch government to reduce the maximum mortgage amount consumers can borrow.

According to the Het Parool article, rising energy prices and living expenses reduce the financial flexibility of consumers. This results in less borrowing capacity to avoid debt problems in the future.

The Nibud will submit the proposal regarding the lending requirements for 2023 on 1st October. Then, the Minister of Finances will inform the banks of the new lending criteria. Banks are not permitted to extend loans beyond the norm.

The Nibud research team is finalizing the proposal on maximum borrowing capacity and how it impacts other expenses consumers must pay, such as food, clothing, and energy bills.

 

Prices slowly decline

Homebuyers can already borrow less money than in previous years. This year, the interest rate on a 20-year fixed-rate mortgage rose by 2.5 percent to nearly 4 percent.  Higher interest rates mean people can borrow significantly less than before, resulting in the rising housing prices slowing down.

The Mister Mortagate team calculates your maximum mortgage that fits your personal financial situation and provides financial analysis, including your maximum mortgage, monthly mortgage payments, and taxes. Schedule a free call with our mortgage specialists to know how to handle your mortgage journey.

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Sezer Yilmaz
Founder & Financial Specialist
Egle Kemezyte
Growth Marketer
Robin Uijtdehaage
Commercial Director & Financial Specialist
Özkan Karakol
Financial Specialist