This can be a rather tricky decision to make. Both scenarios have pros and cons, ranging from paying for two homes at the same time to having to move house twice within a short time.
If you expect to have equity on your home, you’ll be interested to hear that you don’t necessarily have to sell your current home first. This is where the bridging mortgage comes in.
"}},{"componentType":"sectionTitle","title":"2. How do I use my home equity?"},{"componentType":"paragraph","richBody":{"value":"There are various ways you can use your home equity. Most homeowners leverage their home equity to buy their next home. This is, however, subject to certain conditions (in Dutch).
The big advantage of using your home equity is that the more of it you use for the purchase of your new home, the less you need to borrow on a mortgage. As a result, homes may suddenly be within your reach if they are priced beyond the maximum amount you can borrow.
"}},{"componentType":"accordion","accordionList":[{"title":"Home equity: here’s how it works","richBody":{"value":"When you sell your home, the proceeds will go towards paying off your mortgage in one go. This will have to be formalised before a notary selected by the person buying your home.
Still have money left over after paying off your mortgage? That’s home equity.
Calculation example:
No, you don’t. More and more people are improving their home’s energy efficiency. In fact, the Dutch government incentivises it. Things you can do to make your home more energy-efficient include improving the insulation and installing solar panels.
Did you know that people often choose to make sustainability improvements before they move into their new home? They do it as part of a greater renovation, for example.
"},"textLinks":[{"url":"/en/personal/mortgage/mortgage-types/buying-a-sustainable-house","text":"Explore your home sustainability options"}]},{"componentType":"sectionTitle","title":"4. What do I need to bear in mind when taking out a new mortgage?"},{"componentType":"paragraph","richBody":{"value":"Before you know it, you’ve put in an offer on the house that you always wanted to live in. What a great thing to look forward to!
But as you prepare for that, you want to know well ahead of time what your options are. You want to be clear on how much you can borrow, for example, or whether you’d be eligible for tax relief on mortgage interest.
"}},{"componentType":"accordion","accordionList":[{"title":"How not to miss anything","richBody":{"value":"During a free exploratory consultation, you can ask any questions you have. We will go over your options in your specific situation.
Things that others who went before you asked our advisers include:
Good to know: having a free exploratory consultation doesn’t mean you’re committing to anything.
"}}]},{"componentType":"sectionTitle","title":"5. Is there a practical step-by-step guide I can refer to?"},{"componentType":"paragraph","richBody":{"value":"Yes, there is! From figuring out what exactly you want in a home to getting the keys.
An all-in-one summary, so you won’t miss anything.
"},"textLinks":[{"url":"/particulier/hypotheek/huis-kopen/ander-huis-kopen/stappenplan","text":"Take a look at our step-by-step guide (in Dutch)"}]}]},"legalZone":{"flexComponents":[{"componentType":"paragraph","title":"Good to know","richBody":{"value":"The English text of the website is a translation of the Dutch original version. This translation is intended for the customers convenience only. In case of any discrepancies between the two versions, the original Dutch version shall prevail. The mortgage offer and contract will be signed in Dutch. Also, all further communication after signing the mortgage contract will be in Dutch. You acknowledge and accept this. If any assistance or clarification is needed, we recommend contacting your mortgage advisor or to call our customer service via the ING app.
"}}]}}}