Recent research has shown that many people are not aware of the risks associated with a repayment-free mortgage. A repayment-free mortgage is seen as an attractive form of mortgage, because you only pay interest and no repayment. However, according to current laws and regulations, you must pay off the mortgage at the end of the term (usually 30 years).
In many cases, a repayment-free mortgage is still a fine option. However, in the context of already implemented and proposed changes in legislation regarding personal homes, it is good to periodically review to see if this is still true for the future in your particular case.
What can we do?
Together with you, we can map out whether the repayment-free mortgage is still a good option for you in the future, based on your current situation. If this is not the case, we can advise you on how to avoid a future problem. If you are not 57 years old yet, it is wise to take a close look at your situation. If you want to change something after this age, the lender must deduct the income after retirement.
Why now?
The interest rate is still very low, and although the problems can only arise in the distant future, you can prevent them – and even benefit – if you look at your mortgage now. The trend is that in the case of a new fixed-interest rate period, banks will charge a higher interest rate for an interest-only mortgage. This can amount to almost 1%.
We are here for you to do just that.
Together, we can find out what your best option is. Our advisors are ready to help you. To make an appointment, please contact our office (info@poundwise.nl).
Do you want to know more?
Arianne Kuulkers
Communication- & Recruitment Manager
