So, your offer on a Dutch house has just been accepted, congrats! Now, you must wait for your mortgage to be approved.
And how long does that usually take? A number of factors will determine that answer.
How long before my Dutch mortgage is approved?
In the Netherlands, you usually have to wait between two and eight weeks for your mortgage application to be approved.
Where you fall in this range depends on several factors, such as which mortgage advisor you use.
In the Netherlands, it’s common for mortgage advisors and providers to establish a relationship with each other. Choosing an advisor who already has a good rapport with a provider can significantly reduce your waiting time.
How significantly? Expat Mortgages has special arrangements with mortgage lenders. As a result, they can help get your mortgage application approved in as little as two weeks. Book a free consultation.
A timeline of the Dutch mortgage application process
The best way to understand how long your mortgage application will take is to understand the various steps involved.👇
1. Meet with a mortgage advisor
Once your offer is accepted, it’s time to arrange a meeting with your mortgage advisor to discuss the details. This includes how much you need to borrow, which provider you want to use, and the mortgage type you would like to opt for.
They will also tell you which documents you need to gather. Depending on the advisor, it can take anywhere between one to a few days to get an appointment.
2. Request an interest rate offer from your chosen bank
Next, you must request an interest offer from your chosen mortgage provider. This usually takes between one and three working days.
3. Sourcing and submitting the necessary documents
In the meantime, you should start sourcing the necessary documents, such as:
- A payslip,
- a copy of your ID,
- bank statements,
- a valuation report of the property,
- your residence permit (if you’re a non-EU international),
- and an employer’s declaration
When it comes to getting your valuation report (taxatierapport) and employer statement, you want to get the ball rolling as soon as possible. How long this step takes depends on how responsive people are.
4. Receive and sign your interest offer
Once you have received your interest offer, it’s time to sign it and submit this, along with your documents, to your mortgage advisor.
They will then send your complete file to the bank.
5. Wait for the bank to double-check everything
Next, the bank will conduct two separate checks on your application to make sure all the details are correct.
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This can take anywhere between a couple of days to three weeks, depending on whether you need to supply extra information.
6. Book a notary appointment
Once the bank approves your application, a final mortgage offer (hypotheekofferte) will be sent to your advisor, who will carry out a final check before discussing it with you. Once you are happy that you understand it, you will sign it.
READ MORE | How much do I have to earn to buy a house in the Netherlands?
The signed offer will then be sent back to the bank, which will set up an appointment for you with your notary. During this meeting, the deal is sealed. It can take anywhere between five and twenty days to get this appointment.
As you can see, how long it takes to get your Dutch mortgage approved depends on various factors — but it’s worth the wait.
How long did it take for your mortgage to be approved? Tell us in the comments below!