Mortgage requests rise by 26% and buyers are borrowing more
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Add as a favourite source on Google Add DutchNews as a favourite source on GoogleOver 115,000 new mortgages were requested in the first three months of 2024, according to research group Hypotheken Data Netwerk (HDN). The total is a rise of 26% on the same period in 2023, HDN said on Monday.
The average loan was up 7% on last year at €364,640 at a time when average prices have risen to €464,000, HDN said. First time buyers had an average of €42,000 of their own money to invest in the property.
However, buyers are borrowing more in relation to their income. In the first quarter of 2023, the average loan was 3.93 times the buyer’s gross annual salary, but this has now risen to just over four, HDN said.
Since the start of this year, buyers have been able to borrow more if they invest in a property with a high energy label or if they pledge to put money into energy efficiency measures.
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