Another Mortgage Conversation

Remember it would cost us €25.000 to change our mortgage. Well, we threw that offer in the bin. However, some banklady phoned and asked us whether we were still interested in a meeting to talk about our mortgage. I told her the fine was too big. She was shocked at this number and was sure something was wrong. She knew for sure she would be able to get us a better deal.

Today we had a meeting via Skype, very handy with two little ones in the house. This time around another bank employee calculated an €18.000 fine. Ehm…right. The interest rate for five years she was able to offer us was as low as 1.9%! Wonderful! Strange thing is that our monthly mortgage payment would go up a little, even though we now have a 4.35% deal. This is because we have this savings mortgage deal….difficult to explain to the non-Dutch. They’re not available anymore….but we’re stuck with one! (unless we move houses, that way we can get rid of it without the fine)

Oh wel….this means that we can’t use our excess money to throw into our mortgage. Our other options are (unless we want to spend it on useless shit…) to either save or invest. We’re all for the latter, yet again!

Lots of love,

Mrs EconoWiser


3 thoughts on “Another Mortgage Conversation

  1. Astrid

    Wat een toestand! Die mensen leven ook niet in de echte wereld, hè?

    When does the set period run out? Usually you can do a repayment into the mortgage without a fine at that time.

    Good luck!

  2. ambertree

    What a bummer! I hope you find a solution.

    Here in belgium it serms to be better for the consumer. Actually, the banks here complain that it is too cheap for the consumets to quit, refinance or pay back a lump sum. We only pay 3 months of interest on the amount we alter.

    I just contacted my bank to pay ack approx 12 pct of our loan. In theory, we should invest, but i prefer the idea of being mortgage free sooner than later

  3. Inte

    Yep, ‘bankspaarhypotheek’ is a pain in the ass. Always has been. We are so happy that we are done with it. After either 15 or 20 years you can change it to another sort of mortgage. Which we did and than we paid it off in two years.
    Or the other option is to pay if off at once. You are probably allowed to do that at no extra cost.
    And for the moment, you are probably allowed to put in some extra money. This is a way to reduce your monthly payment.
    Anyway, good luck!


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