When you refinance your mortgage, you usually have to pay a fine. You can pay for it best from your own resources, which is the cheapest. If no own resources are available, this fine can be included in the new financing. You will therefore borrow more, but the interest on the mortgage part for financing the fine is not tax deductible. Again applies, being properly informed or re-lending is interesting and how you can best finance the costs. The Mortgage Advisors London really offer a great deal of support here.
Finance your renovation
Increasing the mortgage can currently be extra interesting to realize your renovation plans. If there is room to increase your mortgage based on the value of the home, this can now be taken out at favorable interest conditions. If you have no options in this regard, you can consider borrowing this amount for tax purposes.
Financing through a consumer credit can be interesting if the amount is below € 25,000. With a loan no financing costs have to be incurred. A personal loan is the most suitable for this and under certain conditions the interest is tax deductible.
A mortgage with NHG conditions?
When taking out a new mortgage, it is also possible (under certain conditions) to finance the mortgage on the basis of NHG conditions. This applies to mortgages up to an amount of € 265,000. For this you pay a one-off deposit of 1% on the purchase price, but for this you often receive an additional interest discount from the mortgage provider. You also have the guarantee that the guarantee fund will guarantee you in the event of unforeseen circumstances. It is also possible to finance under NHG when transferring your mortgage. Be well informed about this.
Compare the various durations
When you need a mortgage, you usually request multiple quotes. When making a comparison, ensure that the same duration is stated on each quotation. The monthly charges differ quite a lot if you calculate with duration of 20, 25 or 30 years. So no apples and pears compare.
Independent advice
There is currently a lot to choose from in terms of mortgage providers, conditions, interest rates and advisors. You can do a lot of preliminary work yourself through financial comparison sites , but be well advised on what is ultimately the best choice in your personal situation.
Increase the maximum mortgage, to make that one house that you have in mind just accessible? There are a number of useful tips with which the mortgage can be just higher. We list them so that you can find out for yourself what is possible.
Note: Discuss the maximum mortgage, and certainly an increased mortgage, always with a mortgage adviser. In this way you prevent financial risks that may arise now or in the future.
Moreover, an independent adviser can compare the various banks. This is especially useful when you work as a self-employed person or self-employed person. Banks deal with this differently, so that sometimes more is possible than you would expect or than you know about your home bank.