Sell your home and repay the current mortgage

It is one of the options when you want to move houses. You first need to sell your home and repay the current mortgage. To finance the new property, you must apply for a new mortgage.

If you want to sell your home and pay off the mortgage in the Netherlands, you will need to follow these steps:

  • Inform the lender of your intention to sell the property and pay off the mortgage.

  • Find a buyer for your home. This can be done through a real estate agent, by advertising the property for sale, or by other means.

  • Negotiate the sale of your home with the buyer, including the terms of the mortgage payoff.

  • Once the sale of the home is finalized, the proceeds from the sale will be used to pay off the mortgage.

  • Transfer the ownership of the home to the buyer.

Keep the current mortgage condition to buy a new property

In this situation, you keep your current mortgage without applying for a new one or paying off the existing one. To port a mortgage, you will need to follow these steps:

  • Inform your lender of your intention to sell your current property and purchase a new one.

  • Find a new property to purchase and negotiate the purchase with the seller.

  • Have your lender review the new property to ensure that it meets their lending criteria.

  • If the new property is approved, your lender will prepare a new mortgage agreement for the new property and transfer the mortgage balance from the old property to the new one.

  • Sign the new mortgage agreement and complete the purchase of the new property.

Plan a free call with our mortgage specialist to get a personalized mortgage advice when moving homes
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Özkan Karakol
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