Purchasing a new-build home comes with its own set of rules and regulations. It can be daunting, which is why our new-build desk is here to help you. Our team of experienced new-build advisers is ready to support you: from taking those very first steps to settling into your new home.
Calculate how much you can borrow and how much the monthly repayments will be. Tip: you can save your calculation to view or recalculate later. If you’d rather have an adviser do a more accurate calculation for you, you can make an appointment for a free consultation – no strings attached.
There are always a lot more costs involved in buying a home than just the purchase price, but the additional costs for new-build homes are different from those for existing properties. You don’t pay transfer tax or valuation costs for new-builds, for example, but you will have to pay the notary’s fees and construction interest.
If you’re buying an energy-efficient new-build home, you might be able to borrow up to €9,000 on top of your maximum mortgage amount. The exact amount depends on your personal situation. A mortgage adviser can tell you how this works.
With thousands of new-build projects in the Netherlands, it can be difficult to pick the right one. On the internet, search for ‘nieuwbouw’ (new-build) and the name of the town or city you are interested in. This is the best way to find the websites of new-build projects. You can also ask an estate agent for help.
If you find a property you like, be sure to sign up for the presale. New-build homes are very popular, and you won’t be the only person who’s interested. New buyers are often entered into a ‘lottery’, with homes being allocated at random. If you’re well prepared, you’re more likely to secure a home. Tips for increasing your presale success
Once you’ve secured a property, it’s time to arrange your mortgage. You’ll sit down with a mortgage adviser to discuss the mortgage and building fund account.
You have a lot of extra options to choose from when you buy a new-build home. They can include an extension, the layout of the attic or even the location of the various plug points. Similarly, you can choose not to install a bathroom or some of the walls or doors. These are called ‘contract variations’. You can include these costs in your mortgage, setting aside an amount in a separate account: the building fund account. Whenever you receive a bill from your contractor, you simply send it to us through Internet Banking. We’ll pay the contractor, so you won’t need to pay them upfront. Read more about the rules, term and payments made from a building fund account.
If you’re buying a new-build property while you already own or rent a home, you’ll inevitably face double monthly payments: the construction interest for your new property and your regular mortgage or rent payments. In some cases, you can cover part of the construction interest with your mortgage. If you have savings, you can use them to finance these double monthly payments. By taking out a bridging loan, you can use the equity from your current home to cover costs for your new home. You’ll repay this loan once your current home is sold.
The counter on the contractor’s workable days starts as soon as construction begins. The land purchase and contracting agreement states how many workable days the contractor has available to build your home. If work can’t go ahead due to the weather or another cause, these lost days don’t count as workable days. There are on average 180 workable days in a year.
Your monthly mortgage payments start as soon as you sign the mortgage deed at the notary. The payments will start off lower, as you’ll be earning interest on the money in the building fund account. The lower the amount in the building fund account, the lower the interest you earn. This means that your monthly repayments will increase gradually over time.
The contractor will send you invoices throughout the construction phase, as soon as they’ve finished a specific job. Once the foundations are in place, for example, or when a new storey has been completed or the roof has been waterproofed. You send these invoices to us through Internet Banking and we will pay them from the money in your building fund account.
If the contractor exceeds the number of workable days in the land purchase and contractor agreement, you can start proceedings to apply for compensation. Our mortgage advisers can help you with this.
The day has finally come: time for the handover! You and the contractor walk through the property to check that everything works and is as it should be. It’s a good idea to invite an expert to approve the handover. The handover is also when you’re given the keys to your home: time to roll up your sleeves! This is a good time to take out home insurance for your house.
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The whole process and mortgage application are in English, with English-speaking mortgage advisers.
