Your mortgage advisor will sit down with you to see if the mortgage can be transferred to your name only. To assess this, your mortgage adviser will look at:
1. Work out roughly how much you can borrow
To get a rough idea of whether you can still afford your current mortgage on your income alone, including after a possible increase due to having to buy out your ex-partner, calculate an estimate of the maximum amount you can borrow on a mortgage.
2. Make sure you have a divorce agreement
We will need a divorce agreement to know what arrangements you have made regarding division of the property, the mortgage and possible maintenance payments. If you weren’t married, but were living together in the home, you can draw up your own agreement that must at least cover the following points. This is regardless of whether or not you had a cohabitation contract:
3. Schedule an appointment with an adviser
You can make an appointment with an ING mortgage adviser, if you have a divorce agreement. Mortgage advice is subject to advisory fees, which are charged at a flat rate. Read all about advisory fees and how to pay them. You can, of course, also make an appointment with your intermediary.
4. Request release from joint and several liability
If it turns out that the partner who wants to stay in the home can indeed afford the mortgage, ING will arrange a release from joint and several liability for the leaving partner. Here’s what this involves:
If you are the one leaving the home you bought together, you will obviously want a new home for yourself as soon as possible. Whether to buy or rent depends not only on what you prefer but also on your income and outgoings.
"}},{"componentType":"accordion","accordionList":[{"title":"Read which steps you will need to take when leaving the home","richBody":{"value":"Make sure you have a divorce agreement
We will need a divorce agreement to know what arrangements you have made regarding division of the property, the mortgage and possible maintenance payments. If you weren’t married, but were living together in the home, you can draw up your own agreement that must at least cover the following points. This is regardless of whether or not you had a cohabitation contract:
Request release from joint and several liability
If it turns out that the partner who wants to stay in the home can indeed afford the mortgage, ING will arrange a release from joint and several liability for the leaving partner. Here’s what this involves:
The mortgage will be paid off from the proceeds of the sale. You will then generally not be charged an early repayment fee. The proceeds of the sale may exceed (equity) or be less (residual debt) than the remaining mortgage debt.
"}},{"componentType":"accordion","accordionList":[{"title":"Important to bear in mind in case of equity","richBody":{"value":"If you receive part of the equity on the home after the sale and decide to buy a new home, you will use it to finance the purchase. If instead you additionally borrow all or part of the amount, you will not be able to use tax relief on the mortgage interest for the additionally borrowed amount (i.e. the amount equalling the equity).
"}},{"title":"Residual debt?","richBody":{"value":"What now?
"},"textLinks":[{"url":"/particulier/hypotheek/jouw-hypotheek/huis-onder-water","text":"Find out about your options (Dutch)"}]}]},{"componentType":"paragraph","title":"Want independent advice from an external party for your divorce?","richBody":{"value":"If you have a mortgage with ING and would like to engage an independent divorce mediator, Zorgeloosch Scheiden can help you and your ex-partner settle the financial and practical side of your divorce.
"},"textLinks":[{"url":"/particulier/klantenservice/scheiden-of-uit-elkaar-gaan/wij-regelen-uw-complete-echtscheiding","text":"Zorgeloosch Scheiden can help you with this (Dutch)"}]},{"componentType":"linkList","iconTitle":{"title":"Any questions related to mortgages"},"textLinks":[{"url":"https://www.ing.nl/particulier/zoeken.html?q=hypotheken","text":"Frequently asked questions about mortgages"}]},{"componentType":"linkList","iconTitle":{"title":"More information in relation to splitting up"},"textLinks":[{"url":"/particulier/klantenservice/scheiden-of-uit-elkaar-gaan/wat-komt-er-kijken-bij-een-scheiding","text":"The main steps in ending a relationship (Dutch)"},{"url":"/particulier/klantenservice/scheiden-of-uit-elkaar-gaan/uit-elkaar-gaan-en-uw-financiele-situatie","text":"Taking stock of finances and putting agreements in writing (Dutch)"},{"url":"/particulier/klantenservice/scheiden-of-uit-elkaar-gaan/uw-gezamenlijke-bankzaken-afhandelen","text":"Arranging your day-to-day banking affairs when splitting up (Dutch)"},{"url":"/particulier/hypotheek/notarisservice","text":"Need an affordable notary? (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.
"}}]}}}