Can I buy a property in the Netherlands as an expat?

To get right to the point, the answer to this question is basically just YES. But there are a number of rules and conditions you must meet. And, of course, every situation is different.

For example, do you want to buy a house in the Netherlands as an expat. Or do you live and work abroad as a Dutchman but want to buy a home in your own country? These are two completely different situations that must also be evaluated and considered separately.

To get some insight into this best tricky matter, we list the history and the most important rules and conditions for you below:

History expats and mortgages

As there was an increasing demand for expats who wanted to buy a home in the Netherlands and thus take out a mortgage, a number of banks also began to focus on providing these types of mortgages. Because banks saw this target group as enormously risky, closing was equally quite difficult to arrange.

But what transpired in the end? Expatriates were more compliant with payment arrangements than the Dutch, which led banks to reduce mortgage lending risks. This suddenly made buying a house in the Netherlands a lot easier.

But when in 2016 the European Union came up with a new rule, the Mortgage Credit Directive (MCD), everything changed. This new directive was introduced to protect people with salaries in a foreign currency from fluctuations in exchange rates and therefore problems with repayment. This made banks responsible for hedging currency risk. This unfortunately changed everything that had been built up to that point. Either buying a house in the Netherlands as an expat became almost impossible.

So expats, who were actually supposed to be protected by the MCD, simply became the brunt of it.

Solution for expats

Since this created a very difficult situation for the expats, a good and practical solution was finally found by the banks. This allowed the MCD to be equally respected and made it easier for expats to get mortgages again.

The solution was quite simple, salary paid in a foreign currency is now counted at 90 percent when calculating the maximum mortgage. This allows the bank to properly cover all major risks and still provide a good mortgage opportunity.

In addition to these rules in terms of income, there are a number of other conditions that you can already take into account.

1. EU Member State and/or residence permit holder

If you live in an EU member state, Norway, Iceland, Switzerland or Liechtenstein, there is usually no problem and you can just get a Dutch mortgage. This also applies to holders of permanent residence permits. You face the same rules as the Dutch population in this case, so income is the main point of review. Fortunately, you don’t have to do the math yourself, but our Nobel advisors can help you with that very well here.

2. No EU member or temporary residence permit.

Even if you are not from an EU member state and/or have a temporary residence permit, as an expat you can usually just buy a home in the Netherlands. Other conditions are then attached. As described earlier, you can then finance up to 90% of the home. But there are also banks that unfortunately will not provide mortgages if you are staying in the Netherlands temporarily. Or that they do but only under certain strict conditions.

Again, every situation is different and needs to be properly calculated and looked at with the right help and support.

More options and better times for expats

Whereas in the past there were only a few options for taking out a mortgage as an expat, these days, fortunately, there are more and more. This makes it increasingly easy as a non-Native to buy a home.

What best suits you in terms of terms and type of mortgage is vastly different for each person and situation and is best left to experts like us.

Tip: Calculate how much you can borrow for a mortgage.

Nobel Mortgages as your personal advisor

At Nobel Mortgages, we are happy to help you with quality financial advice and think with you on all issues. We always go the extra mile for our clients, truly analyzing all options and always thinking outside the box when necessary.

In this way, you are sure to achieve what others cannot. That is, we do everything we can to help you get the best mortgage that suits you and, of course, fits your circumstances and desires perfectly.

Do you also want an advisor who looks outside the box and really analyzes all the possibilities for you?

Then contact our experienced and enthusiastic team soon. We are available to you 24 hours a day with the utmost commitment and sincere attention. An e-mail is a snap to info@nobelhypotheken.nl or call or app to 06-54770122.