Tuesday 04 October 2022

Mortgage requests to buy a home rise 5% in the third quarter

Mortgage requests to buy a home rise 5% in the third quarter

Mortgage data network HDN reports that there was a 5% rise in the number of mortgage requests to buy homes in the third quarter this year, a further indication that the market in the Netherlands is changing. Although the total number of new mortgage requests has gone down by almost 14%, that was entirely due to the downturn in people switching mortgage to take advantage of lower interest rates – now that they are going up again. In particular, the... More >

Mortgage lending limits set to be reduced

Budget institute Nibud is expected to recommend restricting the maximum amount people can borrow to buy a house next year when it publishes its official advice on October 1. The organisation’s decision is binding on the government and mortgage lenders, and a reduction is inevitable in the wake of recent interest rate rises. Borrowers currently pay around 4% interest on a fixed 20-year loan, compared to 1.5% a year ago. ‘We’re still busy working out what the borrowing limit should... More >

Ensure electricity for new homes: builders

Government targets on new housing construction will be hit by a shortage of capacity on the electricity grid and long waiting lists for new connections, construction sector lobby group Bouwend Nederland has said. In some cases, large projects are already being delayed because of the shortage of capacity and building firms are being forced to work with diesel generators. Around half of construction companies report facing delays in mains supplies which means projects are taking longer to be completed. The Netherlands’... More >

Housing benefit reforms will hit many

Family spending institute Nibud is warning that government plans to reform the housing benefit system will leave some people unable to pay their bills. The cabinet wants to change the criteria for eligibility so that income, rather a combination of rent and income, is used to determine how much people receive. Currently, a single person living on welfare benefits in a rent-controlled flat costing €750 per month is entitled to around €375 in housing benefit. In the new system, however,... More >

Amsterdam cracks down on empty buildings

Amsterdam is cracking down on landlords who leave their homes empty, almost doubling penalties for not reporting a building vacant. The city said in a press release that the ‘experimental’ policy is likely to run from December this year until the start of 2025, if it is passed as expected by a council vote. Currently, home owners are obliged to register with the city if their building is empty for more than six months. Under 2016 legislation, the council has... More >