Harder for first-time buyers to obtain mortgages
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]