Expat? And you want to buy a house in the Netherlands?¹⁾

You might think that you face a double hurdle: you do not hold a Dutch passport and on top of that you have a temporary contract of employment. So what are the chances of obtaining a mortgage and buying your own house? It always gives me great pleasure to tell those of our Expat clients who fall into this category: Yes you can! Even if they do not hold an indefinite residence permit.

How much you can borrow depends on your income and also of the value of the property. For this reason the bank will always need a valuation report drawn up by an independent property valuator. An impartial mortgage advisor can tell you how much you will be able to borrow on your income.

Yes, but only if you pay taxes in The Netherlands. Even if you have 30% ruling, you can still benefit from tax relief on your mortgage payments. However, if your partner pays taxes in The Netherlands, he or she can normally claim the full tax rebate, even if you own the property together (and in some circumstances, even if the property is in your name only).

In most cases, yes. Your employer will need to fill out a Statement of Employment indicating that you will be granted an indefinite contract after the current one expires. Furthermore, the banks we work with make special allowances for several international organizations for whom temporary employment contracts are standard issue.

After consulting your financial advisor, you will know what your budget is. The next step is to find your dream house, generally with the help of your own real estate agent. Once agreement has been reached on the purchase price, a Purchase Agreement will be drawn up. After signing the Purchase Agreement, you have three days to change your mind. This is the so called cooling-off period. Once the mortgage applicant is rewarded with a mortgage offer, the next step is then to make a deposit of 10% of the house price. This 10% needs to be transferred to the Notary's office or (and most commonly) the mortgage bank sends a letter of guarantee to the Notary's office for this 10%.

The final date in the Purchase Agreement is the actual date of transfer of ownership of the property. On this date you become the owner and all rights and duties related to the property will transfer to you. You will go to the Notary's office to sign both the deed of transfer of ownership as well as the mortgage deed on this day. An interpreter is normally present if you do not have a good command of the Dutch language. The dates in a Purchase Agreement should not be set too lightly or too tightly. The advice of a real-estate agent and that of your financial advisor can save you hassle and keep you safe from legal pitfalls.