How to finance a mortgage in Amsterdam as an expat?

How to finance a mortgage in Amsterdam as an expat?



A custom made package is what you need

Buying a house in Amsterdam can be a great financial investment, especially for expats. It is important to keep in mind that Dutch mortgages have some conditions that need to be met. Dutch banks always require proof of income and a statement from your employer. If you’re self-employed, you need to provide information about your income from the last three years. For EU citizens, some banks need you to fulfil more conditions. Banks may be even stricter in enforcing these condition with non-EU citizens.

What conditions need to be met for EU and non-EU citizens?

When you are a EU citizen (but not a Dutch national) or when you are a non-EU citizen, you will need to fulfil more condition than Dutch nationals. One of these requirements is that you need to have lived in the Netherlands for five years. In some cases it’s not needed to have lived in the Netherlands for five years. For instance, when you are able to provide a deposit to the bank.

Besides the time you have lived in the Netherlands, you will need to be employed or financially independent. You will probably need to pay a deposit to the bank. The last requirement that a Dutch bank might have, is that the mortgage might be limited to 90 percent or less of the property value. Expats from outside the EU will have the same requirements, but banks might be stricter in enforcing them.

Wat types of Dutch mortgages are best for expats?

Dutch banks offer different types of mortgages. Depending on lifestyle and personal circumstances, what the best type of mortgage is for you as an expat might differ. With some mortgages you need to start paying off the loan along with the interest immediately. Other mortgages allow you to postpone these payments. You will only need to pay interest instead. A lot of rules regarding mortgages have changed in the last decade. It is wise to seek a mortgage advisor that is specialised in mortgages for expats and the Amsterdam housing market.

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Arnout J. Punt adviseur