You have an existing loan, but you would like to be able to borrow extra money. Because you have a financial setback or because, for example, you have found your dream caravan and would like to tour around France this summer.
The new mortgage regulations that came into effect in 2018 mean that it is no longer possible to borrow extra money with your mortgage. You can only obtain a mortgage for the amount equal to the value of your home. This means that additional costs associated with buying a house, such as the costs of the buyer, a (small) renovation or new furniture, for example, can no longer be financed by taking out a higher mortgage. From January 2018 you will have to finance these extra costs with your savings, for example. It is also possible to take out a loan.
There are three options when transferring your existing loan:
By transferring your current loan (or several existing loans) at a lower interest rate or better conditions (for example, penalty-free repayments or term life insurance in the terms and conditions), you can save a lot of money. But it is also possible to borrow extra money at the same cost. Your monthly payments and your term remain the same and you have extra money at your disposal to absorb your financial setback or to realize your dreams.
Curious about what refinancing means for your personal situation? And whether it is also possible for you to borrow extra money if you transfer your loan? Then use our transfer service and discover what your options are immediately.