Dutch mortgage words

Glossary Dutch mortgage and property definitions


Hypotheek Mortgage - A financial means to buy your property
Voorlopige koopovereenkomst or Voorlopig koopcontract A document (purchase agreement) drawn up by the makelaar indicating an intention to buy a property
Makelaar Estate agent / Real estate broker
Taxatierapport Property valuation report
Dagwaarde The valuer's assessment of your property value
Executiewaarde The forced sale value of the property in the event of default by the borrower (usually circa 90 percent of the dagwaarde) - the normal basis of an offer by a lender
Herbouwwaarde The valuer's estimation for rebuilding a property in the event of total loss and the basis for opstalverzekering. Usually considerably less than the dagwaarde.
Opstalverzekering Property insurance
Verblijfsvergunning A Dutch residency permit - an absolute necessity for a mortgage in the Netherlands.
Offerte An offer (quotation) to advance a mortgage from a lender
Koopakte A legal document drawn up by the notaris setting out a timeframe, legal, and financial terms for a property purchase
Notaris Notary
Ontbindende voorwaarden Based on these conditions only you may withdraw from the transaction before the final date without losing the waarborgsom. These conditions must be mentioned in the voorlopig koopcontract.
Waarborgsom The deposit payable (usually ten percent) and is paid by the bank. To show the seller that you are serious.
Afspraak Appointment
Inboedel Personal effects and furniture going in to your property
Verzekering Insurance
Notarisafrekening Statement of account from the notary
Overdrachtsbelasting Transfer tax
Koopsom Buying price
Afsluitprovisie Closing fee
Aflossingsvrij Non-repayment
Beleggingshypotheek Investment mortgage
Onroerende zaak belasting (Local) property tax
Werkgeversverklaring Statement from the employer that you are an employee and what your salary is
Intentieverklaring Statement from the employer that he has the intention to keep you as an employee in the future and that he is very satisfied with your work. Necessary when you don't have a permanent contract or are a contractor.