Borrow extra money in addition to a mortgage
Since January 2018, it is no longer possible to borrow extra money with your mortgage. The maximum mortgage amount is 100% of the value of the home. It is therefore no longer possible to borrow extra money to renovate your house, to purchase a new interior or to pay the costs for the buyer. You are dependent on your savings or you can take out a personal loan to provide for these costs.
In most cases it is therefore no longer possible to borrow more money through your mortgage. It is possible to take out a loan in addition to your mortgage.
Advantages Personal loan
- Fixed low interest rate, fixed term and a fixed monthly amount
- As a home owner you benefit from additional interest benefits. You receive a fixed, low interest rate from 3.5%
- You can always make extra repayments on your loan without penalty
- When you take out a personal loan with the aim of renovating or improving your owner-occupied home, you can take advantage of a tax benefit . You can then deduct the interest costs from the tax.
The correct order
It is important that you have the correct order when you want to borrow extra money for your home. When you have a loan, this can prevent you from taking out a mortgage. And that's not what you want. That is why it is important that the loan is paid out after the mortgage has been passed through the notary. It is possible that you apply for the loan in advance and make everything in order before the moment of payment, so that this can be arranged immediately after you have visited the notary.
Curious about the possibilities?
Are you curious how much you can borrow? Calculate it yourself online and see what is possible for your personal situation.