- Blog
Living as an expat in the Netherlands, and Amsterdam in particular, is highly recommended!
There is plenty of room for large establishments and the tax climate is (still quite) favorable for foreign companies. Also, the city is hugely multicultural.
Looking at Amsterdam, for example, in recent years the city has become one of the most multicultural cities in the world.
The expat community there is vibrant and diverse, making it easy for foreigners to connect and meet many other expats
If you want to buy a house as an expat in Amsterdam, or anywhere else in the Netherlands, there are a number of rules and conditions you must comply with. And every situation is different, of course.
To gain some insight into the rules and options, we list the most important rules and conditions for you below.
Are you from an EU member state and/or a holder of a residence permit?
First of all, it is important where you currently live. If you live in an EU member state such as, Norway, Iceland, Switzerland or Liechtenstein, there is usually no problem and you can just get a Dutch mortgage.
This also applies to holders of permanent residence permits. In this case, you will have to deal with the same rules as the Dutch population, so income is the main point of verification. Fortunately, you don’t have to calculate that yourself, but a good mortgage advisor can very well help you with that.
Are you from a non-EU country or do you have a temporary residence permit?
Even if you are not from an EU member state and/or have a temporary residence permit, as an expat you can usually just buy a home in the Netherlands.
Other conditions are then attached.
As described earlier, you can then finance up to 90% of the home.
But there are also banks that unfortunately do not provide mortgages if you are staying in the Netherlands temporarily. Or that they do but only under certain strict conditions.
Again, every situation is different and needs to be properly calculated and looked at with the right help and support.
Nowadays, there are more options
Where there used to be only a few options for taking out a mortgage as an expat, these days, fortunately, there are more and more. This makes it increasingly easy for non-Dutch people to buy a house.
What best suits you in terms of terms and type of mortgage is vastly different for each person and situation and is best left to experts.
What exactly do you need to buy a house in the Netherlands as an expat?
Many Dutch banks offer special mortgages for expats. They include:
- Your residence or work visa
- Your income situation (preferably shown in euros)
- The duration of your employment
- Whether you have a BSN number
Do you have a temporary contract? No problem. With a letter of intent from your employer, there are still good chances for a mortgage. Even as an expat!
What documents do you need?
To buy a home, you need a number of important documents, including:
- Valid passport or proof of identity
- Work contract or employer’s statement
- Latest pay stubs and/or annual statement
- Residence document (if applicable)
- Bank statements
A good mortgage broker is worth its weight in gold
Buying a house, and thus applying for a mortgage, actually all starts with a good and reliable mortgage broker. A good mortgage broker will take the time to properly list what is possible and give you high-quality financial advice.
For example, they know exactly what costs you can expect such as transfer tax (usually 2%) and notary fees.
They should also be good at thinking with you and always accessible so that you can move quickly when needed.
Because it’s extremely important to know whether your dream home is actually within reach and up to what amount you can reasonably make an offer.
In this, fortunately, there are several options available, including options that can provide more security upfront such as a the pre-checked mortgage from Morgage2Go.
Be wise and engage an NVM real estate agent
A buying agent acts on behalf of the buyer and takes the entire buying process off their hands.
For example, the real estate agent looks at the value of the home, the legal aspects and the structural condition (possibly through a structural inspection).
The agent conducts negotiations with the seller’s agent and aims to secure the lowest possible price for you as the buyer, under the most favorable conditions.
Notary and property
When buying a home, you always need a notary. Then choose a notary that suits you! A notary close to home can be convenient. Especially when you have to visit the notary office several times.
Also pay attention to the price. Notaries, in fact, set their own rates.
So even as an expat, get a number of quotes and compare them. Note that the quote amount usually does not include VAT.
Furthermore, check carefully which activities are included in the proposal, such as drawing up the purchase agreement and the notarial deed of transfer. This will help you avoid unexpected costs afterwards.
Mortgage2Go
As an expat, have you decided to take the plunge and move to the Netherlands? And would you then like to be sure about what you can borrow maximum for a mortgage and have the financing virtually completed before you start house hunting?
Then Mortgage2Go offers the solution. With a pre-checked mortgage, your financing is almost fully secured, and you can be confident that you’ll be able to afford your dream home.
Within two business days of your accepted offer, your financing will then be complete and finally approved! Start an application quickly and see if you qualify.
