The calculator and the quote form below are in Dutch. Prefer to do this in English? Email info@finassverzekert. nl or call 072 - 509 24 56 and we will take it from there.
We compare the offerings of several insurers
An adviser checks whether the cover suits your situation
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
In brief
When you remortgage you end your current mortgage and take out a new one, with the same lender or a different one. If you are still within a fixed-rate period, your current lender normally charges an early repayment penalty.
That penalty is compensation for the interest the bank misses out on. The greater the difference in rate and the longer the remaining fixed-rate period, the higher the amount. Your lender is obliged to provide that calculation on request.
Alongside the penalty there are costs: advice, valuation, the civil-law notary and sometimes a new NHG fee. All together those determine the payback period.
Please note: borrowing money costs money. Finass Advies B.V. holds a licence for non-life insurance and does not act as an intermediary for credit or mortgages. This page is informative. For an application we refer you to a provider with a licence for consumer credit or mortgage credit. Every licensed provider consults the BKR (the Dutch credit register) for credit of € 250 or more with a term of longer than one month.
The structure of the cover in three parts, with an overview per situation below.
What you pay
The costs
The early repayment penalty plus the costs of the new process.
Early repayment penalty
Advice and intermediary services
Valuation and notary
What it produces
The advantage
A lower monthly payment or a shorter term.
A lower interest rate
A different fixed-rate period
Sometimes NHG becomes possible
Referral
What we do
We do not advise on mortgages, but we do insure your home.
No mortgage advice
Buildings and contents, yes
Your lender's requirement, yes
What is covered
Subject
With us
With the mortgage provider
Calculating your early repayment penalty
No
Yes
Comparing providers
No
Yes
The application and intermediary services
No
Yes
Buildings insurance (opstalverzekering) on rebuild value
Yes
No
Home contents and liability
Yes
No
Statutory credit information
No
Yes
This overview is general in nature and is not personal advice. What is actually covered, including exclusions, limits and the excess, is set out in the policy conditions and the insurance card (verzekeringskaart) of the insurer; you receive both before you take out cover. Taking out cover without advice? Then read what execution only means for you.
Where things go wrong in practice
Four points that make the difference between a policy that pays out and one that does not.
Ask for the penalty calculation in writing
Your lender has to provide it on request, with a breakdown of how the amount is made up. Without that figure any comparison is guesswork. Also ask what happens if you wait until the end of the fixed-rate period. Sometimes that is the cheapest route.
Work out the payback period
Divide the total costs by the monthly advantage. If the result is longer than the remaining term, it is not worthwhile. If you stay in the home for less time than that payback period, it is not worthwhile either. That is a calculation the mortgage adviser makes for you.
An early repayment penalty is sometimes deductible for tax
With a mortgage for your own home, an early repayment penalty is normally deductible as a financing cost in the year of payment. That lowers the net cost and therefore the payback period. Have it included in the comparison.
Do not forget your insurance
With a new lender the buildings insurance has to be endorsed again, with that lender as an interested party. That is a simple change, but it has to be in place before the transfer.
Customers rate our service on four aspects: personal service, service delivery, availability and the outcome. The reviews are collected and published by NH1816 and come from customers who have actually taken out a policy with Finass Advies B.V. or reported a claim.
Compensation for the interest your lender misses out on when you remortgage within the fixed-rate period. The greater the difference in rate and the longer the remaining period, the higher the amount.
Can I ask for the calculation?
Yes. Your lender is obliged to provide it on request, with a breakdown of how it is made up.
Is an early repayment penalty deductible?
With a mortgage for your own home normally yes, as a financing cost in the year of payment. Have it included in the comparison.
When is refinancing worthwhile?
If the payback period is shorter than the remaining term and shorter than the period you stay in the home. The mortgage adviser makes that calculation.
Does Finass arrange the remortgage?
No. We advise and act as an intermediary only in general insurance, and we refer you on to a specialist firm.
Do I have to change my insurance?
With a new lender yes: it has to be endorsed on the buildings policy as an interested party, before the transfer.
Finass Verzekert is a trading name of Finass Advies B.V. We advise on and arrange non-life insurance on the basis of an objective analysis of several insurers, and receive commission for this from the insurer, which is included in the premium. You pay no separate advice fee. Before you take out cover, we establish your wishes and needs.
You will find our licence, KvK and Kifid details and our complaints procedure at the foot of every page.
