Despite the cautious economic recovery after the financial crisis and our booming housing market, this playing field remains quite irregular; Selling your house quickly is often difficult. And if you do sell your home, it may happen that the mortgage on your home is higher than the selling value: your home is ‘under water’. This means that you have to pay an amount when you sell. This is called the residual debt.
Most homeowners want to co-finance this residual debt in their new mortgage when they move. However, according to current mortgage rules, this is often not allowed. This is partly due to the fact that when taking out the new mortgage it is checked whether your income and the value of the new owner-occupied home allow this, but also because it increases the monthly costs of the new mortgage: this way you can during the term of the mortgage ( up to 30 years) pay interest on this residual debt. No ideal situation.
If you do not have enough savings to pay off your residual debt, or if you prefer not to use your savings for this, you can finance the residual debt of your home with a consumer loan. Consider for example a revolving credit or personal loan. Because where mortgage lenders do not want to do anything or hardly anything extra to finance your residual debt, we will deal with this differently! Our experts are happy to make your move as smoothly as possible.
Financing residual debt depends on your income and expenses (often) to be solved properly. When you finance your residual debt with a revolving credit or personal loan, it is of course important that you can bear the costs of this financing monthly in addition to your new housing costs. In addition, it is advisable to pay off the remaining debt so quickly. Request a quote for financing your residual debt! We investigate what is the best option for you.
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