The number of starters that took out a mortgage loan for the first time fell by 16% in the last quarter of 2016 compared to the last quarter of 2015. Even though the number of people moving through rose by 26% during the same period, the Hypotheker research shows. The reason? Residential properties are too expensive for starters and the competition from the transfer companies is too high.
101% of housing value financing
Due to the stricter mortgage loan rules, it is increasingly difficult for starters to buy a house. For example, as of this year, only 101% of the market value of the home can be financed with a mortgage loan. Starters must therefore increasingly use savings or financial support from family or friends. In more cities it has become easier for new owners to buy a house because of the sale of their own house with surplus value.
mortgage loan interest deduction only with linear or annuities mortgage loan
Starters who now take out a mortgage loan must, in order to make use of the mortgage loan interest deduction, pay off the mortgage loan in full. This is possible with a linear or annuities mortgage loan . Forwarders, on the other hand, can finance part of the housing value without interest. As a result, they benefit more from low interest rates and mortgage loan interest deductions.
Large cities unaffordable for starter
The problem for starters is the most acute in the big cities. In Amsterdam the number of starters that closed a mortgage loan fell by 33% and in Utrecht by 27%. The number of people moving on with a closed mortgage loan rose by 34% in Amsterdam and Rotterdam by 42%. Housing prices in Amsterdam have risen sharply. For example, for a square meter you will lose almost 90% more than the rest of the Netherlands; 3 years ago that was 50%.
Are you a starter? Do not let yourself be bothered by this message. Because some headwind does not mean that it is impossible. An independent mortgage loan adviser will be pleased to see if your dream home is within your reach.