Refinance your mortgage
Are you paying too much interest, or does your current mortgage no longer fit your life? Discover instantly if refinancing is the smartest choice.
Plan appointmentSmart refinancing: lower costs and more certainty
Your mortgage is probably your biggest monthly expense. Yet, many people never look at it again after signing the deed. That’s a shame, because chances are your current mortgage could be cheaper or better. For example, because interest rates have dropped, your home has increased in value (which means your risk surcharge can go down), or simply because you want to get rid of an expensive savings mortgage. By refinancing your mortgage to a different bank with a lower interest rate, you can often save hundreds of euros a month. As independent advisors, we figure out if refinancing truly pays off in your situation.
Why refinance with Hanno?
- Independent comparison of all Dutch banks
- Crystal-clear insight into your penalty interest and break-even point
- Check if you can finance the refinancing costs into your new loan
- We handle the entire process: from bank to notary
Don't let the penalty interest blind you
If you break open your mortgage during your fixed-interest period, your current bank misses out on interest income. They charge a fee for this: the notorious penalty interest (boeterente). For many people, this is the main reason not to refinance. However, that fear is often unjustified.
Think of the penalty interest (and the costs for advice and the notary) not as wasted money, but as an investment. What matters is how fast you earn that investment back through your lower monthly payments. Can you recoup the costs within 3 to 5 years? Then refinancing is financially a very smart move. Moreover, you usually don't have to pay the penalty interest and refinancing costs out of your own pocket; in many cases, we can simply include this in your new mortgage. Your monthly payments will still go down, and you keep your financial buffer intact.
How to refinance your mortgage in 4 steps
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1. What is your budget?
A free orientation meeting will give you clarity.
Make an appointment Bel 030 - 208 2010
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2. Your own financial mortgage plan
First we look at your situation, then at your mortgage.
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3. Choose the Best Deal:
Does refinancing really pay off? Then we pick the bank with the best rate and conditions for your expat situation.
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4. Everything Arranged
We handle the application, manage the paperwork, and guide you right up to the signature at the notary.
Are you secretly overpaying on your mortgage?
make an appointmentWe always look for the smartest route
As independent advisors, our primary goal is simple: to find the most financially beneficial solution for your specific situation. Refinancing is a powerful tool, but it's not the only tool. When we run your numbers, we look at the complete picture. If our calculations show that a simpler, cheaper adjustment, such as interest rate averaging (rentemiddeling) or lowering your risk surcharge, yields a better result, we will tell you right away. Even if the smartest financial move is simply to keep your current mortgage as it is, you can count on us to be 100% transparent. We are not just here to change your mortgage; we are here to maximize your financial peace of mind.
Frequently asked questions
Yes, in the vast majority of cases, you can. In the Netherlands, you are allowed to borrow up to 100% of the current market value of your home. Because house prices have risen significantly in recent years, many homeowners have equity (overwaarde). You can use this equity to include the one-off costs (penalty interest, advice fees, notary, and appraisal) in your new mortgage. This way, you don't need to use your own savings.
Largely, yes! The penalty interest, advisory fees, appraisal costs, and notary costs for the mortgage deed are a one-time tax deduction in Box 1 (on your income tax return). Note: if you finance these costs into your new mortgage, the interest you pay over that specific, extra piece of the loan is not tax-deductible.
That depends entirely on your current mortgage. Are you currently paying an interest rate of, say, 4% or 5%? Then refinancing to a slightly lower rate, or lowering your risk surcharge, can still be very profitable. Additionally, refinancing offers the opportunity to immediately choose better conditions that fit your current life.
It can be, but there are strict rules to consider today. If you took out your interest-only mortgage before January 1, 2013, you fall under Dutch transitional law and can often take it with you to a new lender. However, keep two important limitations in mind: first, banks currently only allow you to finance a maximum of 50% of your home's current market value as interest-only. Second, the mortgage interest deduction is limited to a maximum of 30 years. For many homeowners, this tax benefit will end entirely in 2031. We will calculate exactly if keeping your interest-only loan is still your best option, or if it is smarter to gradually start paying off the principal.