In the Information Centre, we can provide you with personalized advice. You can also try using the home expenses calculator provided by De Hypotheker to get a rough estimate of your home expenses. However, you should realize that this is only an approximation. To get a more accurate figure, a personal interview is needed. After all, each person’s situation is different.
An estimate of your gross and net monthly expenses is specified for the mortgage amount desired by you.
|Gross monthly expenses:|
|Net monthly expenses:|
|Based on interest-rate guideline:|
You can obtain information about financing this residential unit from De Hypotheker Amsterdam.
Entering information about your age is needed to calculate the premium for the term life insurance policy, which is often mandatory. The amount of this premium also influences the amount of your monthly expenses.
Here you fill in your gross annual salary, including holiday pay (usually 8%).
You can calculate this amount yourself quite simply: monthly salary x 12 x 108%.
You may add any fixed bonuses, such as shift bonuses, to the above amount. If you also receive variable bonuses, such as profit-sharing, overtime, and commission, you may add the average gross amount received over the last 12 months, as long as it is of a structural nature.
If you are self-employed, you should fill in your average net profit over the last three years.
If you wish to have your partner’s income also included in the calculation, you can indicate that here.
Here you can specify whether you will not repay a part of the mortgage amount. Over this part of the mortgage, you pay only the interest due on the mortgage. If you choose not to make repayments on part of the mortgage, your monthly expenses will be lower.
However, you should realize that there will still be a debt remaining at the end of the mortgage term. The interest paid over this mortgage debt can serve as a tax write-off for a maximum period of 30 years.
If you take out a mortgage, you will usually be required to take out insurance that pays out a benefit in case of death before the end of the mortgage term. This can also be advisable from the perspective of your own personal situation.
You can choose to take out death coverage for 0%, 50% or 100% of the mortgage amount. In the calculation at hand, the percentage specified applies to both partners when applicable. For a savings account mortgage, a minimum coverage of 50% is required.
If part of the mortgage is interest-only, this part is not taken into account when calculating the life insurance cover premium.
As of 1 January 2001, the mortgage interest tax relief is limited to a maximum period of 30 years. This, as well as other tax related factors, may make it more advisable to choose a shorter term.
Holland Park makes it affordable to live in beautiful apartments ranging in size from 43 m² to over 136 m² with more options and choices available than you might think. And remember: living in Holland Park also means living on your own piece of land, which means that you do not have to pay any additional costs related to ground lease as would be the case elsewhere in Amsterdam. Finally, as it is a new building, you do not have to pay any legal transfer costs, which makes it a lot less expensive compared to buying an existing home.