Saturday 19 June 2021

First time buyers are turning to interest-only mortgages

First time buyers are turning to interest-only mortgages

First-time buyers are increasingly opting for interest only-mortgages, according to new figures from mortgage advisory group De Hypotheker. In the first quarter of this year, 14% more young home owners opted for a partially or entirely interest-only mortgage and their number has almost doubled on two years ago, De Hypotheker said. One in six young buyers is now opting for the cheaper mortgage, in order to reduce their monthly outgoings.  ‘The popularity of the interest-only mortgage is down to the... More >

Cities 'aim to ban investment landlords'

Two of the largest four cities in the Netherlands plan to ban investors from the private property market as early as next year if the Senate approves a proposed law. A survey of major municipalities by the Financieele Dagblad revealed that Rotterdam and The Hague, as well as Eindhoven and Haarlem, want to bring in the restriction in 2022. Amsterdam and Utrecht are also in favour of a ban but have not specified a date. The law, which was passed... More >

Tax cut sees surge in young house buyers

Some six in 10 house sales in the first three months of this year involved a buyer under the age of 35, compared with 45% in 2020, land registry agency Kadaster said on Wednesday. At the same time, average prices rose to €379,000 as the 2% property transfer tax for young first-time buyers was scrapped. The government dropped the tax for youngsters and increased it to 8% for landlords in an effort to help young potential buyers get a foot... More >

Most home owners are ignoring energy plans

More than half the Netherlands’ four million home owners are not yet taking steps to make their homes more energy efficient, the government’s socio-cultural advisory unit SCP said on Thursday. By law, all seven million homes in the the Netherlands should use energy and heating from renewable sources by 2050, and the SCP says the government must take a more active role in stimulating home owners to make changes. For example, three-quarters of terraced or detached homes do not have... More >

Social housing waiting lists get longer

Waiting lists for social housing have stretched to more than seven years in a quarter of the Netherlands’ 355 local authority areas, according to research by public broadcaster NOS. The longest waiting list – 22 years – is in Landsmeer, a village just north of Amsterdam, but the waits are similar in other towns and villages surrounding the capital. In Amsterdam itself, the average waiting time for a rent-controlled home is 13 years. The long waits are down to the... More >