From next year, banks must consider potential foundation problems when granting mortgages with the National Mortgage Guarantee (NHG). As a result, homebuyers may be able to borrow less for properties with a high risk of foundation damage.
The NHG protects homeowners who run into payment difficulties. Homebuyers pay a one-off fee for this protection, and mortgage lenders often offer them a lower interest rate.
The organisation behind the NHG wants to prevent buyers from facing financial difficulties if they unexpectedly have to pay large amounts for foundation repairs.
Under new rules for 2027, lenders must use a standard method to assess foundation risks when customers apply for an NHG-backed mortgage. If the risk is high, lenders must include the expected repair costs in their calculations. This may reduce the amount a buyer can borrow to purchase the property.
Warnings
Warnings about foundation problems have increased in recent years. Drought, falling groundwater levels and construction work can all damage foundations.
Two years ago, the Council for the Environment and Infrastructure warned that the cost could reach €54 billion if no action is taken. In April this year, the Dutch Authority for the Financial Markets (AFM) said nearly 220,000 homes owned by about 120,000 people face a high risk of foundation problems. Most of these owners would not be able to pay the repair costs immediately.
The NHG believes the new rules will give consumers a clearer picture of the financial impact of foundation risks. However, the organisation says further measures are needed, including clear information and cooperation between the government, municipalities and the financial sector.
@anp | NEWS BRAINPORT
