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The largest comparison
Our online mortgage calculator compares more than 40 providers, including your own bank.
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1 million customers
Our experienced mortgage advisors have helped over 1 million people to buy a house.
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Over 35 years of experience
De Hypotheker is the oldest and largest independent mortgage broker in the Netherlands.
Mortgage types
In the past, many different mortgage types existed. Since 2013, there are only two mortgage types where you can make use of the mortgage interest deduction. Perhaps one of these mortgage types might be of interest to you if you want to convert your mortgage.
How to refinance your mortgage
Refinacing your mortgage or mortgage transfer means paying off your current mortgage and taking out a new mortgage. This can be with your current bank or another mortgage lender. This can give you lower monthly costs. These are the corresponding steps for refinancing your mortgage.
Orientation
Before refinancing your mortgage, it is important to have a good orientation. What type of mortgage and what interest rate do you have now, what are your monthly mortgage costs, what are the current interest rates? A mortgage advisor can help you map out your current situation and examine whether converting your mortgage is favourable for you. The orientation consultation is non-binding and free of charge.
Consultation with the mortgage adviser
The adviser will assess your financial situation and look at your options. When you refinance your mortgage, you usually pay a fee for early repayment (penalty interest). The adviser will calculate the payback time should you decide to refinance. Not in all situations is refinancing beneficial. If, for instance, you have a savings deposit mortgage, then switching your mortgage interest rarely provides a benefit. Still, it is wise to take a close look at your financial situation. In many other cases, transferring your mortgage can actually result in substantial savings in monthly costs. The adviser will tell you everything you need to know to make the right decision.
Arranging your mortgage
Have you decided to refinance? Then it is time to arrange your mortgage. To do this, you will submit various documents to your adviser, such as your salary slip and current mortgage details. It is often also necessary to have your home valued. Once all documents have been provided, your adviser will write a recommendation and get to work applying for the mortgage.
Signing the mortgage offer
When the chosen mortgage lender agrees on all documents, you will receive the mortgage offer: the binding offer. After signing the offer, you can start counting down to the day of passing your mortgage.
To the notary
Not only when buying a house, but also when you refinance a mortgage, you go to the notary. The notary will clear your old mortgage and register your new mortgage in the Land Registry (Kadaster). After this, everything is settled and you can start enjoying your lower monthly expenses. Congratulations!
Refinancing your mortgage. What are the costs?
If you are considering refinancing your mortgage, there are costs involved. In addition to any fees charged by the mortgage provider, you will also pay us for mortgage advice.
Here, you can find our indicative price for refinancing your mortgage. These costs may vary by location. Check the page of your local Hypotheker branch for specific advisory fees.
Frequently asked questions about refinancing your mortgage
This is what our customers ask us frequently
When should I refinance my mortgage?
Refinancing your mortgage is worthwhile when it provides financial benefits. This is often the case when the current mortgage interest rate is significantly lower than the rate you are currently paying.
Want to know if refinancing is beneficial for you? Easily calculate it with our Refinancing Check.
What costs should I consider when refinancing?
Refinancing your mortgage free of charge is unfortunately not possible. Take into account the penalty interest, appraisal costs (approximately €500) and notary fees (approximately €700). In addition, there are advisory and mediation fees (approximately €2,500). Do not forget any other possible costs, such as guarantee fees for NHG mortgages.
Why is there a penalty when I refinance my mortgage?
When you take out a mortgage with a lender, you agree on a fixed-interest period, for example, ten years. If you want to terminate this contract early by refinancing your mortgage, the lender misses out on the expected interest and requests compensation. This compensation is also called penalty interest.
How is the penalty calculated?
The amount of penalty interest depends on the remaining term of your fixed-interest period, your current interest rate, and the current market interest rate. In many cases, lenders allow you to repay a certain percentage of your mortgage penalty-free each year, for example, ten percent. This amount is deducted from the penalty interest. An additional advantage is that penalty interest is tax-deductible.
Example calculation: You have a mortgage of €200,000. Your fixed-interest period will end in two years. You are currently paying five percent interest. The current interest rate is 1.5 percent. If you decide to refinance, you will pay off your existing mortgage. You are allowed to make a penalty-free repayment of 10 percent, or €20,000, leaving a remaining balance of €180,000.
The difference between your current interest rate (5%) and the current market rate (1.5%) is 3.5% per year. If you refinance now, the bank loses 7% (2 x 3.5%) in interest on €180,000. Therefore, the penalty interest is approximately 7% of €180,000, which amounts to €12,600.
How can I pay the penalty interest?
A penalty interest fee can be a significant amount. Not everyone has this available in their savings account. Fortunately, you can include the penalty in your new mortgage. However, this is only possible if you have surplus value on your home. This means that the value of your property must be higher than the amount of your mortgage. Additionally, the higher mortgage must be financially feasible. Your income and any existing debts will be taken into account.
Keep in mind that the interest on the portion of the loan used to pay the penalty is not tax-deductible.
Can I also refinance my mortgage with my own bank
As an independent specialist, we at De Hypotheker work with almost all mortgage lenders. This means you can transfer your mortgage to another bank if that is more beneficial. However, your current bank may still be the best option. In that case, we are also here to help you refinance your mortgage under the most favorable conditions possible.
What are customers say about us
There is a lot to consider when taking out or refinancing a mortgage. That is why good and reliable mortgage advice is important. These customers are happy to share their experience with De Hypotheker.
