This large group has had major problems in obtaining a mortgage for years and this group is a thorn in the eye. The last year there has been a bit more flexible handling of the rules by different banks, but all have different rules and standards.
This makes it difficult for the small business owner to determine where he or she can best go for a mortgage. Here comes, if the Own Home Guarantee Fund ends, and in addition, self-employed persons can also start using the mortgage guarantee.
Which banks can you go to?
There are a number of large banks that have already drawn up rules to provide the self-employed with clarity. It remains strange that people who have an entrepreneurial spirit are excluded from getting a normal owner-occupied home.
With the new proposals from the Home Ownership Guarantee Fund, this group can also do so with a National Mortgage Guarantee (NHG). The banks that already offer mortgages to the entrepreneurial group apart from the NHG are:
ING, ABN Amro, Florius (daughter of ABN Amro), Aegon and BLG (daughter of SNS Reaal).
How do you qualify?
If you look at the NHG website you will see that there is a division into two groups. The first group has had its own business for more than 3 years and must therefore submit IT declarations over 3 years. These declarations must then be about the same company and have the same activity.
The income on the basis of which the assessment is made is an average of these 3 years over the net profit. You can find this net profit on your tax return under ‘tax profit calculation’. For a director of major shareholder, the income of the past 3 years is looked at. Then again an average is taken out.
Less than 3 years of entrepreneur
The first condition is that you have been active for at least 1 year. In addition, you must have a test income (PDF alert) determined by an expert appointed by the Home Owners Guarantee Fund (WEW). You can choose an expert on the NHG website.
There are costs involved, the one-off costs are € 250 excl. VAT. Since this test is in the preliminary phase, you do not have to incur any further costs in the event of a rejection. The follow-up process consists of a BKR test and of course an independent appraisal of the property that you have in mind. You have to organize the latter yourself with a broker, NHG does not interfere with this.
Why is it interesting with NHG?
If you as a self-employed person can use the Home Owners Guarantee Fund, the mortgage lender will firstly be more inclined to provide you with a mortgage and, secondly, thanks to this guarantee fund you can negotiate a lower interest rate. This is therefore always cheaper and will save you a lot on your monthly payments.