Many homeowners have it: home equity

Home equity is the difference between the value of your home and the mortgage that is still on it. When selling, that amount will be released, but even if you don't want to move for the time being, there are ways to make use of it now.

There are people who use the surplus value for a renovation or sustainability, others use it to help their children buy a house or to make a long-cherished dream come true. What options are there?

Increase mortgage

With a substantial surplus value, you can increase your existing mortgage. The bank will look at your income again to determine whether you can bear the costs. Was your mortgage already registered higher in the Land Registry at the time? Then you do not have to go to the notary again.

Second mortgage

Another option is to take out a second mortgage. You can choose a different term or mortgage form than your current mortgage. Keep in mind that the second mortgage always applies at the current interest rate.

Especially for seniors

There are special solutions for people over fifty, who have often built up a lot of surplus value. An extra mortgage is sometimes less suitable due to a lower income, but fortunately there are alternatives.

The eat-up mortgage construction

For people over sixty, the eat-up mortgage may be an interesting choice. You can withdraw part of the equity in one amount, in monthly installments or in a combination of these. The interest is added to the debt, so you don't have any extra monthly payments. You only repay when the house is sold.

Personal advice

Whatever your plans, using surplus value is always tailor-made. Do you want to know which options best suit your situation? Please feel free to contact us. We are happy to advise you.