Dutch mortgage changes in 2023

With the year almost over it is time to look at the changes that lay ahead with regard to buying a property and obtaining a mortgage.

1. NHG limit will increase with € 50.000


NHG stands for the Dutch National Mortgage Guarantee foundation. They offer property owners a safety net if they can no longer afford their mortgage or if they sell their property and have a residual debt to pay. Right now you can apply for an NHG mortgage (at a one-off cost of 0.6% of the mortgage amount) if the property is valued up to € 355.000. To make this more accessible the limit will increase to € 405.000 as of January 1st. If you want to add in energy saving measure on top of the purchase the limit is even 6% higher at € 429.300. Also good to know, you can already buy a property now in December and ask the mortgage provider to wait till approving your application straight away in 2023 so you can make use of this deal.

2. Tax free gift limit will decrease


Currently home buyers up to 40 years in age were able to receive a one-off tax free gift up to € 106.671. As of 2023 this limit will decrease to € 28.947. The government has decided to change this to allow for a more equal playing field between home buyers with wealthy or not so wealthy parents. For gifts over this limit the tax will be at least 10% over that part.

3. Transfer tax limit starters and investors


Starters in the housing market are offered a tax exemption on the transfer tax. Right now this applicable for homes up to € 400.000 in value. There are some criteria you must meet, you are under 35 years old, plan to live in the property yourself and have not received this exemption before. As of 2023 the limit will increase to € 440.000. 

For private and business investors buying properties the transfer tax will increase from 8% to 10,4% as of January. By increasing this further the government hopes first time buyers will have a more competitive position to purchasing a property. If you buy a pied-a-terre or a holiday home in The Netherlands the higher transfer tax will also be applicable for you.

4. Mortgage interest tax rebate


Next year the mortgage interest tax rebate is being reduced further to the lowest tax bracket of 36,93%. This means that if you have a high income and are paying income tax of 49,5% (income over € 73.071) you can now only get the tax rebate of 36,93%. This is a measure that has gradually been implemented over the last years and the purpose is to not give home owners with a high income a greater benefit of the mortgage interest tax rebate.

5. Effect of student loans during a mortgage application


If you have a student loan that you are still paying back, you can borrow less in a mortgage. However the impact of the student loan is less that for example a personal loan with a bank or private lease car. For those loans the weight factor is 2%. As of next year the student loan weight factor is 0,65% for the old student loan system and 0,35% for those with a new student loan system. An example, ff you have a student loan (new system) of € 20.000 the impact on your borrowing capacity is about € 14.000 negative.

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