Harder for first-time buyers to obtain mortgages

22nd December 2008, Comments 1 comment

Dutch banks are providing mortgages with the lowest possible risk, making it harder for buyers without savings and outstanding loans to get loans.

THE NETHERLANDS – The financial crisis is pushing banks to provide mortgages with the lowest possible risk, says the national organisation of mortgage advisors.

The organisation, Nationale Hypotheekpas (NHP), warns this will make it much harder for first-time home buyers without savings to get a mortgage and other so-called high-risk groups such as the elderly or people with outstanding loans.

Several political parties are calling for the Homeownership Guarantee Fund to be raised and the conveyance tax to be lowered to stimulate the housing market.

The NHP dismisses the proposal as insufficient, saying Finance Minister Wouter Bos should force banks to provide more mortgages.

[Radio Netherlands / Expatica]

1 Comment To This Article

  • John posted:

    on 19th February 2010, 09:57:26 - Reply

    The government funds the private sector, and the government borrows in order to set interest rates. Those are facts that CNBC is unaware of.


    Do Did you know that, according to real estate law in Wisconsin, if you call a Realtor and ask her to show you

    homes…and you do not enter into a “buyer’s agent” contract with her… she is legally representing the seller?

    As the seller’s agent, she is obligated to help that seller get the highest price she can.

    If that is the case, how do you as a buyer know you are getting the best home at the best price? There is an answer to that question, and it is by asking your Realtor to be your buyer’s agent, and she will write up an agreement that obligates her to now work for you, not just “with” you.

    Let me ask you a question from another industry: do you want a lawyer to work WITH you or work FOR you if you were in some legal difficulty? Assuming you would say “For you,” it works the same way with a Realtor. The Realtor who shows you a home is obligated to get the best price for the seller. But if you hire her as your buyer’s agent even before she shows you homes, she is now working for YOU. And that is a big advantage when you want to get the best home at the best price.




    UK Mortages