Mortgage guarantee cheaper in 2022 and for more expensive houses

Mortgage guarantee cheaper in 2022 and for more expensive houses

By raising the cost limit to more than three and a half tons, more homes will become available for which a mortgage with a mortgage guarantee is available to more buyers, NHG hopes. With an NHG guarantee, home buyers can insure themselves of repayment of their mortgage in the event of the death of their partner or a breakup. Customers pay a one-time fee for such a guarantee. In return, mortgage lenders offer a lower interest rate.

Oil on the fire

The question is whether the new higher limit of €355,000 should not be much higher since the average purchase price has already risen to €400,000 and will continue to rise in the coming period. “A question that we are often asked,” says an NHG spokesperson. “But if that limit were set even higher, that would add fuel to the fire and house prices will rise even more, which does not contribute to more stability in the housing market.”

NHG has agreed a method with the Ministry of Finance with which the cost limit is determined annually, instead of always having to negotiate. For 2022, the cost limit based on the past 27 months will be calculated up to and including August 2021, increased by 4% to better match the average house price.

Oscar Noorlag of Van Bruggen Adviesgroep partly agrees that the NHG limit is not even higher than the €355,000 for next year, given the madness in the housing market. “There is indeed a risk that this will push up house prices even further, especially for homes that are around the NHG limit. Similar to the abolition of real estate transfer tax that has acted as a flywheel for house prices. The rising prices are not entirely due to this, but partly due to this.”

Interest rate difference

Noorlag does wonder how great the impact will be of raising the NHG limit. “The differences between an NHG interest rate and a regular interest rate are no longer that great, the NHG interest rate is also at a very low level, so it doesn’t make much difference anymore how much you can borrow.”

Mortgage guarantee cheaper in 2022 and for more expensive houses | Money
Source link Mortgage guarantee cheaper in 2022 and for more expensive houses | Money

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