If you want to buy a house, chances are you will take out a mortgage (in part) for it. Maaike Verhoef, elfin expert and licensed mortgage planner, wrote an article here on what’s involved in taking out a mortgage. But there are some changes in 2023. In this article, read the changes mortgage 2023 Maaike shares with us!
Psst: want to know what else is changing in 2023 besides rules around the mortgage? Check out the article on the major tax changes in 2023 here !
Mortgage changes 2023
As every year, changes for 2023 have been announced. I have listed the most important changes for you:
- The amount of the mortgage
- The NHG limit
- Student debt
- Jubelton
- Transfer tax
- Mortgage interest deduction
- Investor mortgage
Are you ready? Here we go, the depths: the changes mortgage 2023 are as follows.
Level of maximum mortgage
Loan standards are reset every year. NIBUD sets financing burden percentages every year. These finance charge percentages determine how much you can borrow with your income.
Because everything has become more expensive, your income allows you to spend less on housing costs. Assuming the same income, you can borrow slightly less in 2023 than in 2022. With an income of up to €80,000, this is about €10,000 less you can borrow.
NIBUD indicates that with an average CLA wage increase of 3.7% in 2023, you can borrow slightly more than in 2022 with no increase in income.
NHG
In 2023, the NHG limit goes up. This means that the purchase price of a home may be €405,000. In 2022, this limit was still €355,000.
Including co-financing energy-saving features, the mortgage debt may not exceed €429,300.
Student debt
In 2023, interest rates for student debt will go up. Mortgage lenders do not calculate with the actual monthly burden but instead charge a legally set percentage of the original debt as the monthly burden. Going to pay 1.78% interest from 2023, your student debt covered under the old system (repayment in 15 years) will get a rate of 0.65% to 0.75%. NHG calls this the weighting factor.
So for example, with a student debt of €20,000, the mortgage lender takes €150 (0.75%) as a monthly charge. So this was €130 ( 0.65% at 0% interest rate in 2022).
For now, 35-year student debt will not change. This percentage remains 0.35% that mortgage lenders calculate with to determine the monthly burden of student debt.
For a table of what interest rate increases do to the weighting factor, see the table here.
Jubelton
The gift exemption for the own home of up to €106,671 will be reduced to €28,947 in 2023.
Did you receive a gift (can be as little as €1) in 2022 and filed a gift tax return for it? Then you can add to this amount in 2023 up to € 106,671 without paying gift tax on it. However, you must then use it to purchase a home no later than 2024.
Starter exemption transfer tax
The home value may reach €440,000 in 2023 to take advantage of the starter exemption for transfer tax. This was still €400,000 in 2022.
Homebuyers between the ages of 18 and 35 who have not previously taken advantage of the starter exemption transfer tax will therefore pay no transfer tax when they buy a home of up to €440,000. Of course, this applies when they themselves move into this property. Even if it is your second home but meets the conditions you can use this exemption.
Mortgage interest deduction
The mortgage interest deduction also goes down in 2023. The maximum deduction is 36.93% in 2023.
Transfer tax for the investor
If you buy a property for rent (and therefore do not live in it yourself) you will pay 10.4% transfer tax starting in 2023. This was still 8% in 2022.
Need help with your mortgage?
Book an introductory meeting with Maaike and get advice and help buying your dream home! Check out Maaike’s page here.
