Fewer starters take out a mortgage with a National Mortgage Guarantee. Why is a Goodz mortgage not always interesting for starters these days?
Number of starters with mortgage is falling
In 2014, 72% of starters still opted for a Goodz mortgage. With the housing market crisis still in mind, extra security in the event of payment problems and residual debt was not a superfluous luxury. Also not unimportant, many banks offer an interest discount at Goodz.
The percentage of starters who now opt for a Goodz mortgage is only 53%. This has two main causes:
- Starter homes become more expensive, which means that the cost limit for a good mortgage is exceeded.
- Starters nowadays have to pay a large part of their additional costs from their own pocket. The cost of Goods is a big hurdle for them.
Warranty is not always interesting for starters
In addition to the fact that it is often not possible to take out a mortgage with Goodz, the guarantee and the interest rate discount are not always interesting for starters. Extra security is not always necessary, provided that the starter has not been fooled by the heated housing market. From 2018, no more than the house value can be borrowed and starters are nowadays obliged to repay the mortgage at least annually.
It also takes years for the costs for Goodz to be recovered with the interest discount. Starters must take into account that the guarantee cannot be included in the event of a move. They then have to take out a new Goodz mortgage, which again requires bail commissions again. When moving to a house above the cost limit, Goodz is no longer possible.
Goodz mortgage is no longer the standard for starters
To keep up with the rise in the average house price, the Goodz limit will be raised to 265,000 euros in 2018. The question is whether this is sufficient to offer all starters the guarantee. There are large regional differences in the level of the average purchase price of houses.
In addition, in 2018 no more than the house value may be borrowed. The costs for the National Mortgage Guarantee must therefore be paid entirely from your own pocket. And despite the fact that the Goodz commission is under fire, the costs will remain 1% of the home value next year. A plan to be able to co-finance the Goodz costs has been rejected by the Cabinet.