NHG limit 2024 further up: more possible for home buyers
From 1 January 2024, the NHG limit for mortgage loans will be increased to €435,000. This increase opens the door for a larger number of people to finance a home with the protection of NHG. NHG also offers support to home owners in times of financial problems, forced sales, or residual debts.
However, it is important to note that a home can only be financed with NHG if it remains below the NHG limit. Currently, more than 40% of all homes for sale in the Netherlands have a mortgage with NHG. Both the bail commission (the one-off amount paid for a mortgage with NHG) and the NHG limit are revised annually based on an established methodology based on the average home value. The goals are:
- Promoting housing market stability
- Ensuring that people have access to a mortgage
In September, the average purchase price of an existing home was €422,000. The new NHG limit will rise to €435,000 in 2024, an increase of €30,000 compared to the current €405,000 limit. For those who want to make their homes more sustainable, extra loan space is available with regard to Energy Saving Facilities, so that the NHG limit will even become €461,100 in 2024.
The bail commission, the cost of taking out a mortgage with NHG, remains unchanged in 2023 and amounts to 0.6% of the total mortgage amount. NHG is committed to a sustainable and affordable home, even in difficult times. Thanks to the increase in the NHG limit, more home buyers can benefit from the benefits of NHG, such as a more stable financial position and lower interest rates. This will be particularly beneficial for starters in the housing market.
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