Properties over a million have become more and more popular in the Netherlands. The application process and requirements are different for a high-risk mortgage.

A principal amount varies per mortgage lender. Besides, not all lenders offer loans over € 750,000. For example, if the property is worth more than € 1000,000, the lender could finance between 80-90% of the market value.

Mortgage application process

The approval process for a larger mortgage demands additional time compared to a standard mortgage, mainly due to higher risk factors. Factors like savings, investments, or owning additional properties contribute to the complexity of the mortgage application procedure. Typically, mortgage applications exceeding a million euros may require a span of 4 to 6 weeks for processing. Lenders often scrutinize high-risk mortgage applications independently, with notable cases being deliberated by a credit committee or the upper echelons of the risk management team. To secure a mortgage of over a million, you must afford it. Find out more about how to buy a property over a million or contact the Mister Mortgage team.

If you are considering purchasing a property valued over a million euros, here are some key points to keep in mind:

Limited options for mortgage lenders

While there are over 40+ mortgage lenders in the Netherlands, not all possess the required expertise to evaluate mortgages exceeding a million euros.
Reduced loan-to-value for high-value mortgages

Unlike regular mortgages that may offer a 100% loan-to-value, high-value mortgages often come with restrictions. Typically, lenders approve only 80% to 90% of the loan-to-value, requiring the remaining amount to be covered by personal assets.
Verification of personal wealth

When seeking a high-value mortgage, the bank will conduct extra scrutiny to mitigate any potential risks. In the Netherlands, mortgage lenders, civil notaries, and mortgage brokers are mandated to trace the origin of funds to combat money laundering and terrorist financing. It's essential to have the necessary documentation, preferably translated into Dutch, demonstrating the source of your funds.