What is the maximum mortgage in 2016. Among other things, double-income households can borrow more for the purchase of a home this year.
Change of mortgage standards 2016
Good Finance has announced the financing burden standards for 2016. Every year Good Finance advises how much of the income on the mortgage can be used. These financing burden standards are taken over by the Minister of Housing. Good Finance wants to prevent consumers from borrowing too much in relation to their income and thus running the risk of payment problems.
Income and the maximum mortgage
A calculation shows that the maximum mortgage based on income remains approximately the same. On the basis of income, approximately as much can be borrowed in 2016 as in 2015 for a new mortgage. The standards change the most in two groups:
- For double- income households, the maximum mortgage sum increases because half of the second (lowest) income may be included in the calculation. Now this is a third.
- For households with an income higher than 60,000 euros , the standards become more flexible. They may borrow up to € 23,000 more.
- For households with an income below 60,000 euros , the standards are stricter. The reduction in the maximum mortgage sum varies from a few hundred euros to 10,000 euros.
Income position Dutch people
Good Finance expects that the financial position of mortgage holders will not change drastically in 2016. The expected average wage increase of 1.4% ensures that loan standards, in particular for two-income households, will become more flexible. The lower incomes can borrow less because they are faced with a stronger reduction in a number of allowances. The wider mortgage standards are, in addition to the low mortgage interest rate, a reason why Rabobank has adjusted its expectation for the housing market positively.
Other mortgage standards
Not only your income determines how much you can borrow. For the maximum mortgage 2016 you must take into account the following changes:
- The maximum mortgage sum in relation to the home value was reduced in 2016 from 103% to 102%.
- The weighting factor for a student loan is reduced from 0.75% to 0.45%.
- You can borrow more for energy-efficient homes (max. € 27,000)
Do you want to know exactly how much you can borrow? Then have a personal calculation made of your maximum mortgage. It is also possible to deviate from the standards in 2016. Where are your mortgage options.
The government is gradually reducing the maximum mortgage. Less can be borrowed in relation to the home value. In 2018 this Loan to Value (LTV) must be reduced to 100% according to the schedule below.