With a credit mortgage, you have the flexibility to withdraw money when you need it, up to a pre-agreed credit limit.
You can arrange withdrawals easily via My ING, online or by phone. The money will be in your account within five working days.
In My ING and in the ING app, you can always see how much spending space you still have within your credit mortgage.
"}},{"title":"2. Tax rules apply to the interest you pay on your credit mortgage","richBody":{"value":"Due to tax rules, the interest on withdrawn amounts is in principle not eligible for tax deduction. This is different if:
For information about the conditions for mortgage interest tax relief, see https://www.belastingdienst.nl.
"}},{"title":"3. At the end of the term, you have to repay the credit mortgage in full","richBody":{"value":"On the end date of the credit mortgage, you must repay the total debt in full. If you have not built up sufficient assets by the end date to repay the mortgage amount, you will be left with a debt.
Do you want to extend the mortgage on the end date? This is only possible if you have sufficient (pension) income, based on ING’s mortgage policy applicable at that time. If extension is not possible, selling your home may be necessary.
That is why it is important to check in good time whether you will be able to repay the credit mortgage in the future. If not, it may be wise to take action now.
"}}]},{"componentType":"sectionTitle","title":"The advantages of a credit mortgage"},{"componentType":"accordion","accordionList":[{"title":"1. You only pay interest on the amount you’ve used","richBody":{"value":"With a credit mortgage, you only pay monthly interest on the amount you have actually withdrawn. This interest is a variable rate based on Euribor plus a margin, which is set monthly. If the interest rate changes, we will inform you via your bank statement.
"}},{"title":"2. You can withdraw funds up to the agreed credit limit","richBody":{"value":"You can always repay early without costs, and repaid amounts can be withdrawn again up to the agreed credit limit.
"}},{"title":"3. You can make interim repayments at any time, free of charge","richBody":{"value":"You can repay your credit mortgage free of charge at any time. This can be done easily via My ING or in the ING app.
"}}]},{"componentType":"sectionTitle","title":"The disadvantages of a credit mortgage"},{"componentType":"accordion","accordionList":[{"title":"1. There is no repayment schedule, so you’re responsible for building up enough assets to repay the loan","richBody":{"value":"On the end date of your credit mortgage, you must fully repay the amount withdrawn. Extension or taking out a new mortgage is only possible if you have sufficient (pension) income, based on ING’s mortgage policy applicable at that time. If that is not possible, you may need to sell your home. Therefore, check in good time whether repayment will be possible and take action now if necessary.
"}},{"title":"2. The lifespan of your purchase may be shorter than the term of your credit","richBody":{"value":"Think carefully about how long your purchase will last (its economic lifespan) if you pay for it via a withdrawal from your credit mortgage. You will pay mortgage interest on this amount for the remaining term of the credit loan, unless you repay early. For example, if you withdraw money to buy a car that you drive for ten years, you may still be paying interest on this withdrawal after you already want or need to replace the car.
"}},{"title":"3. Your credit limit determines your loan-to-value ratio, which affects the interest rate you pay","richBody":{"value":"When determining the loan-to-market value ratio of your mortgage, we take into account the full credit limit of your credit mortgage loan part. It does not matter what amount you have withdrawn at that time. The loan-to-market value ratio influences the interest rate of your mortgage.
"}}]},{"componentType":"sectionTitle"},{"componentType":"accordion"},{"componentType":"sectionTitle","title":"Want to talk things through?"},{"componentType":"paragraph","richBody":{"value":"Are you unsure whether a credit mortgage still suits your situation? Or would you like to know what alternatives are available, for example towards the end date? We are happy to think along with you.
"}},{"componentType":"cta","textLink":{"url":"https://www.ing.nl/particulier/hypotheek/contact/fh?subscrid=cmnl-mort-fh","text":"Get in touch"}},{"componentType":"paragraph","richBody":{"value":"Would you like to speak with an independent advisor? ING works together with more than 2,600 independent advisers.
Find an independent advisor near you.
"}}]},"complementaryZone":{"flexComponents":[{"componentType":"cards","cards":[{"componentType":"productCard","cardType":"product","cardSize":"medium","title":"Want to know where you stand with your credit mortgage?","intro":"A (partially) interest‑only mortgage is not without risks. Take the Mortgage Check and find out what applies to your situation.","image":{"transformBaseUrl":"https://assets.ing.com/transform/8e9057f8-391a-4f34-91d9-78df7a17ea42/mortgage-process-1920","type":"image","width":1920,"original":"https://assets.ing.com/m/7271d404e12585aa/original/mortgage-process-1920.jpg","extension":"jpg"},"link":{"url":"/en/personal/mortgage/your-mortgage/mortgagecheck"}}]}]},"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.
"}}]}}}