Home owners make record extra mortgage payments

house for saleHome owners paid a record €4bn extra off their mortgages last year, Rabobank said on Wednesday. This is 25% up on the extra payments made in 2013.

The increase is due to the temporary tax break on family gifts of up to €100,000 last year, the bank said. Extra payoffs in December reached €1bn or a quarter of the total, as home owners raced to meet the December 31 deadline.

The tax break on gifts to close family members has now been cut to €52,752.

‘This would appear to have encouraged many clients to pay off more of their mortgages,’ spokesman Theo Harms told website nu.nl.

Thank you for donating to DutchNews.nl.

We could not provide the Dutch News service, and keep it free of charge, without the generous support of our readers. Your donations allow us to report on issues you tell us matter, and provide you with a summary of the most important Dutch news each day.

Make a donation