You are changing the way you repay your mortgage. You can convert your mortgage to:
In some cases: Interest Only mortgageor Banksavings mortgage
The interest rate for your new mortgage type is based on the interest rate that applied when you took out the fixed interest rate period. This interest rate will remain in effect until the end of your current fixed interest rate period. Would you like to adjust the interest rate intermediately? Explore your options. Do you have a variable interest rate? In that case, different conditions apply.
"}},{"componentType":"paragraph","title":"Your monthly costs","richBody":{"value":"If you change your mortgage type and/or extend your mortgage, your monthly payment may change. In addition, the change may have tax implications. Your (independent) tax adviser can advise you on this.
"}},{"componentType":"paragraph","title":"Your mortgage term","richBody":{"value":"You can change the term of your mortgage under certain conditions. When you convert your mortgage, the term will remain the same as the remaining term of your current mortgage type. Would you like to extend your mortgage as well as convert it? This is possible under certain conditions. Your mortgage advisor can tell you more about this.
"}},{"componentType":"paragraph","title":"Important things to consider when extending your mortgage:","richBody":{"value":""}},{"componentType":"accordion","accordionList":[{"title":"Interest Only: Would you like to convert to an Interest Only mortgage and extend it?","richBody":{"value":"The Interest Only mortgage is maximum 50 of your home value.
In addition, you repay (at least) the part above 50% of the property value by means of an Annuity or Linear mortgage.
If you took out a mortgage before 2001, your interest deduction will expire in 2031.
If you took out your mortgage after 2001, your mortgage interest is deductible for a maximum of 30 years.
The NHG guarantee will not be extended and the end date remains unchanged.
When the NHG guarantee expires, you will receive a mortgage interest rate that corresponds to your current loan to value.
You can convert your mortgage type with the advice of a mortgage adviser. In some cases, you can also do this yourself without the advice of a mortgage adviser. The mortgage specialist can tell you when this applies.
Contact us to discuss the options. After talking to the mortgage specialist, you can decide whether converting without advice is right for you, or whether you would prefer to adjust your mortgage with the help of a mortgage adviser. Whichever option you choose, the mortgage advisor will help you on your way.
"}},{"componentType":"accordion","accordionList":[{"title":"Convert with advice","richBody":{"value":"When converting with advice, an advisor analyses your personal situation and searches for options that match your wishes. You will then receive advice on, among other things, the repayment method and term. The risks of a reduction in income due to death, disability, unemployment and retirement are also considered, as well as how you can cover these risks. You can convert with your own Intermediary or with an ING adviser.
"}},{"title":"Convert without advice","richBody":{"value":"In some cases, you can opt for conversion without advice. The mortgage specialist can tell you when this applies. When converting without advice, you assess for yourself what best suits your situation and wishes. We ask you, and your partner if applicable, to take a knowledge and experience test to assess whether you have sufficient knowledge of mortgages and are aware of the consequences of a conversion. You will not receive any advice about the financial and tax consequences of a conversion.
Are you unable to fully assess the impact of a mortgage conversion on your financial situation without a mortgage adviser? Then converting without advice is not suitable for you. We advise against converting without advice in the following situations:
There are various reasons for converting your mortgage.
In addition to adjusting your monthly payments, there may be other reasons for converting your mortgage. Do you have an interest-only mortgage? Converting your mortgage to a mortgage type where you make monthly repayments (Annuity or Linear) may be beneficial in the following situations:
Other options might be:
"}},{"componentType":"sectionTitle","title":"What are the costs?"},{"componentType":"paragraph","richBody":{"value":"You will always pay administration fees for converting your mortgage type. Read more about these fees. If you opt for advice, you will also owe advice fees.
Contributing the accumulated value of, for example, an investment or life mortgage is an additional repayment. Costs may be charged for this. More information can be found here: Costs for repaying your mortgage and Intermediate interest rate adjustments.
"}},{"componentType":"cta","textLink":{"url":"https://www.ing.nl/particulier/hypotheek/contact/fh?subscrid=cmnl-mort-fh","text":"Discuss your possibilities"}},{"componentType":"linkList","iconTitle":{"title":"More about"},"textLinks":[{"url":"/en/personal/mortgage/your-mortgage/repayments","text":"Repayment of your mortgage"},{"url":"/en/personal/mortgage/your-mortgage/intermediate-adjustment","text":"Intermediate interest adjustment"},{"url":"/particulier/hypotheek/jouw-hypotheek/rentevaste-periode-loopt-af","text":"Your fixed interest rate period is ending"}]},{"componentType":"cards","cards":[{"componentType":"productCard","cardType":"product","cardSize":"small","title":"Divorce","intro":"When you divorce, you want the settlement of joint finances to go as smoothly as possible.","image":{"transformBaseUrl":"https://assets.ing.com/transform/ad2cb496-9a84-498f-9147-f36ede5035e0/divorce-questions-1920","type":"image","width":1920,"original":"https://assets.ing.com/m/707623481dd16cc8/original/divorce-questions-1920.jpg","extension":"jpg"},"link":{"url":"/particulier/klantenservice/scheiden-of-uit-elkaar-gaan"}},{"componentType":"productCard","cardType":"product","cardSize":"small","title":"Decease and your mortgage","intro":"We prefer not to think about it, but you or your partner could suddenly pass away. Here's how to make sure everything is taken care of.","image":{"transformBaseUrl":"https://assets.ing.com/transform/d6eb5fa7-934c-4273-8f71-9a20d664d739/death-insurance-article-1920","type":"image","width":1920,"original":"https://assets.ing.com/m/2b2ca5431bd7fd5c/original/death-insurance-article-1920.jpg","extension":"jpg"},"link":{}}]}]}}}