Prepare your mortgage loan interview

A good start is half the work. This also applies to your mortgage interview. If you prepare well, you can work faster with your adviser on a suitable mortgage.

What questions do you want to ask your mortgage adviser? Which documents do you want to take with you to such a first mortgage interview?

Find an independent advisor

Before you look for homes, it is nice to know how much you can borrow. This way you can search more specifically for houses without having to face disappointments during your search.

Therefore, look for an independent adviser in your area. For example, also ask family, friends or colleagues with whom they have good experiences or read reviews online.

The exploratory conversation

The first interview you have with your mortgage adviser is an exploratory interview. Also prepare this interview well, so that you can get the most out of it for yourself. You can do this by listing the following for yourself:

  • How many monthly charges would you like to have? Take into account your current lifestyle, but also your future plans. Do you or your partner want to work less in the future? Indicate this also during this exploratory interview.
  • Are you going to buy the house alone or with a partner? If you buy it together with your partner, bear in mind that you must also arrange matters regarding the death risk. With a marriage, your partner inherits the house. You can also have this recorded in a cohabitation contract.
  • How do you want to repay your mortgage ? The major difference between a linear and an annuity loan is the method of repayment. With a linear mortgage, you pay back a fixed amount each month. This is different from an annuity mortgage where repayment increases during the term. Also, read this article for more information about the differences between these mortgage types.

Which documents do I take with me during an exploratory interview?

cash

  • Proof of identification; and
  • Income-based on salary slip or annual accounts of the last three years for entrepreneurs
  • GFI printout

The consultation

money

On the basis of the first interview, you have a global picture of what you could borrow so that you can look for an ideal home. Do you have a home in mind? Then the advisory meeting follows. The following issues are discussed during this advisory meeting:

  • Your income: what you earn now, but we also look at future expectations. What does your career perspective look like or do you want to start working less?
  • Debts or assets: your debts or assets have an influence on the maximum mortgage.
  • Your personal situation: are you going to buy the house alone or with a partner? How do you want the finances to be arranged when one of you dies or in the event of a divorce? And what to do when you become incapacitated for work.
  • Mortgage type: Which mortgage type or combination of mortgage types is possible in your case and which do you prefer? The interest-only, linear or annuity mortgage?
  • Fixed-rate period: How long do you want to fix your interest? This is highly dependent on the risks that you want to run. Also view this video with more information about the choice for a shorter or longer fixed-rate period. Together with your mortgage adviser, you also check whether the interest is deductible in the Income Tax and how much mortgage interest deduction you could get from the Tax Authorities.

Which documents do I take with me during an exploratory interview?

  • Proof of identification
  • Annual Accounts of the last three years for entrepreneurs
  • Salary slip
  • Income tax return
  • Overview of any debts or assets
  • Pension Overview

The mortgage offer

After the consultation you know whether you can finance your intended house and you can make an offer. When the offer has been accepted, sign the purchase contract.

However, at the moment the house is not yours. Depending on the agreements you make with the selling party, the purchase contract is final when the financing is complete.

The mortgage advisor will request quotes based on your details. The signing of this offer, with which you can also finalize the purchase contract, takes place during a final meeting with your mortgage adviser.

From the moment that you have been to the notary, you can call you’re a proud homeowner.

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