Fewer mortgages requested for owner-occupied home | Money

The number of applications for the purchase of a home fell by 12.5% ​​compared to the same quarter last year, to 69,269. For the first time in five years, the non-buyer’s market was larger than the buyer’s market. This includes homeowners who refinance their mortgage because of the low interest rate or who apply for a renovation.

According to HDN, an initiative of several mortgage, credit and insurance companies, the average mortgage amount rose sharply, by more than 12% to €347,532. The home value grew by 18% year-on-year in the second quarter to just over €446,000.

The average value of a home was highest in North Holland at €541,700. In the province of Utrecht, too, the house value is now over half a million euros (€518,200).

Minder NH

Due to the high house prices, buyers can make less and less use of the National Mortgage Guarantee (NHG). The number of applications with the NHG fell by more than a third. With the guarantee, home buyers can insure themselves that they will be able to pay off their mortgage in the event of the death of their partner or a breakup. The NHG also ensures that the mortgage can be repaid in the event of a sale at a loss. The NHG is available for homes with a purchase price of up to €325,000.

It is estimated by HDN that approximately 85% of mortgage applications in the Netherlands go through the organization’s network.

How will the new cabinet solve the housing crisis? DFT reporters Herman Stam and Martin Visser discuss this in the podcast Matter of Cents:

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