What you need
- Income details
- Value of the collateral
- Overview of obligations
Supplementary · local authority · conditions
Starterslening (a Dutch first-time buyer loan)
The starter loan is a second loan alongside your mortgage, with its own lender that also wants to be endorsed on your policies.
- several insurers compared objectively
- 9.5 customer rating for a new policy
- AFM licence 12016589
- Personal 072 - 509 24 56, weekdays 9–17
Deze pagina in het Nederlands: Starterslening.
Ask us
We will take a look and refer you elsewhere where that is better.
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
- We arrange the switch, including cancellation
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
In brief
A starter loan bridges the gap between what you can borrow on your income and what the home costs. The loan is made available by the local authority and is normally provided through the Stimuleringsfonds Volkshuisvesting. Not every local authority takes part, the conditions differ from authority to authority and the budget available can run out during the year.
It is characterised by its structure: in the initial period you pay no monthly amount or a low one, after which there is a reassessment of whether you can carry the full payment. In insurance terms something else counts above all: two lenders come to stand on one home, each with its own mortgage right and each with its own interest in your buildings insurance.
We do not provide the starter loan and do not act as an intermediary for mortgages. The insurance that goes with a first home of your own we do arrange for you, and we check it against the requirements of both lenders.
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.
What does the starter loan cover?
The structure of the cover in three parts, with an overview per situation below.
What it costs
What is often forgotten.
- Advice and arrangement fees
- Valuation and notary
- Property transfer tax
What goes with it
What the lender requires.
- Buildings insurance compulsory
- Sometimes term life cover
- Interested party on the policy
What is covered
| Subject | Explanation |
|---|---|
| Advice is independent | Yes |
| We compare several providers | Yes |
| We arrange credit ourselves | No |
| Referral to a specialist party | Yes |
| A first conversation without obligation | Yes |
| Costs clear in advance | 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.
Two lenders on one home
The starter loan is secured by a second mortgage right. That means both parties should be named as interested parties on the buildings policy, in the correct order of priority. In the event of a large claim the payment is used for repair or written off in that order. So do not change, reduce or end the policy without the consent of both lenders.
The monthly payment of later, not of now
After the initial period comes the reassessment. If your income has not risen, the low payment can sometimes be continued, but that is not a right. So reckon from the outset with the full annuity payment. Mortgage payment protection can absorb a fall in income, with the familiar limitations: waiting period, no cover on a temporary contract and no cover if you resign of your own accord.
A first home is rarely a new-build home
In this segment in particular you often buy an older house. Buildings insurance pays for damage caused by fire, storm and burglary, but not for what was already wrong. Outside the cover are deferred maintenance, foundation damage through subsidence or pile rot, wood rot and mould, and construction or design faults. Have a structural survey carried out before you commit yourself.
The refurbishment that follows straight away
Many first-time buyers start refurbishing immediately. That is a change of risk which you have to report to your insurer, certainly if the home is temporarily unoccupied or the window frames and roof are open. If the refurbishment raises the rebuild value of the home, adjust the sum insured as well; otherwise you are underinsured at the moment things go wrong. You can read more about this at mortgage for a refurbishment.
What does your premium depend on?
- Rebuild value and construction type of the home — Brickwork with a tiled roof is assessed differently from timber or thatch.
- Year of construction and state of maintenance — With older homes the insurer more often asks questions about the roof, the pipework and the foundations.
- Excess chosen — A higher excess per event lowers the premium for the buildings cover.
- Glass and garden cover included — Glass and garden landscaping are separate sections that you can include or exclude.
- Sum insured on the term life cover — Set this against both loans together, not just the first mortgage.
- Age and smoking habits of the insured — Both largely determine the premium for the term life cover.
Insurers weigh these details differently. That is why comparing pays off.
How we arrange it
- You request a quoteWe take stock of your situation, your risk and your wishes.
- We compareseveral insurers, on premium as well as conditions.
- You receive a proposalWith an explanation of the differences and the exclusions.
- We arrange the switchIncluding cancellation, so there is no gap in cover.
9.5New policy
9.8Claims handling
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.
Frequently asked questions
The questions we are asked most often about this.
What exactly is a starter loan?
A supplementary loan from your local authority that closes the gap between your maximum mortgage and the purchase price of the home. It is normally provided through the Stimuleringsfonds Volkshuisvesting and secured by a second mortgage right. Conditions, maximum amounts and availability differ by local authority; ask your own authority whether the scheme exists there and whether there is still budget.
Do both lenders have to be on my buildings policy?
As a rule yes. Both have a mortgage right over the home and therefore an interest in the insurance payment. Make sure the endorsement as interested party appears on the policy in the correct order of priority. Without that endorsement the insurer can pay you when there is a claim, which leads to argument with the party that was not endorsed.
What happens at the reassessment?
After the initial period there is an assessment of whether you can carry the full monthly payment. If you can, you start paying it. If you cannot, the low payment can be continued subject to conditions, but you should not count on that. So reckon from the outset with the full annuity payment in your own budget.
Does Finass arrange the starter loan?
No. You apply for the starter loan to your local authority; for the mortgage itself we refer you to an adviser with a mortgage licence. What we do: arrange the buildings and home contents insurance for your first home, check the sum insured and make sure both lenders are correctly endorsed on the policy as interested parties.
Ready to compare?
Request a quote without obligation. We will look at which insurer best matches your activities and your risk.
Prefer to call? 072 - 509 24 56, weekdays 09:00–17:00.
Claim on the road? Emergency line 06 - 55 20 40 72.
About our service
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.
This page was written and checked by an adviser at Finass Verzekert. Last updated on .
The information on this page is general in nature and is not personal advice.