A mortgage in 2024: this will change
Will you be house hunting in 2024? Then it's important to know that next year will see a number of changes when it comes to taking out a mortgage. Even if you've already taken out a mortgage, it's good to familiarize yourself with the new rules and how they may affect your situation. Therefore, in this blog we list the most important changes for you.
A higher mortgage for a sustainable home
Starting in 2024, the maximum mortgage will depend in part on the energy label of the home you want to buy. The better the energy label, the more you can borrow without additional conditions. For example, for houses with an energy label C and D, you can borrow €5,000 extra, while for houses with energy labels A and B, this amount can even be €10,000 extra. If you purchase an exceptionally sustainable home, you could even borrow up to €50,000 extra, provided the home has an energy label A++++ with an energy performance guarantee of at least ten years.
Higher mortgage for home preservation
Are you buying a house with a "poor" energy label? Even then you can borrow an extra amount in 2024. This extra money must be spent on making your house more sustainable. The amount you can borrow depends on the current energy label. For example, for homes with an energy label A and B, an additional loan amount of € 10,000 is available for preservation. This amount increases to € 15,000 for houses with energy label C or D and even up to € 20,000 for energy labels E, F and G. If your house has no energy label, you can borrow a maximum of € 10,000 extra for sustainability.
NHG limit goes up
The NHG limit rises from €405,000 to €435,000 in 2024. Are you going to renovate? Then the limit will be as high as €461,100 next year.
Singles can borrow more next year
Taking out or raising a mortgage as a single person? In 2024, the government wants to make it easier for single people to buy a house. If you have an income of at least €28,000, you will be able to borrow an additional €16,000 next year. This amount should give single people a little more financial leeway when buying a home.
Changed calculation in case of student debt
Student debt affects your mortgage. This is because study debt means you can take less money. This will remain the same in 2024, but the way a lender looks at your student debt will change. Now the bank still looks at the actual amount of debt. They then add a percentage of that to your monthly payments. Starting next year, the bank will look at the actual amount you pay off each month. Although the calculation will change, in many cases this will not make much difference to the outcome.
Transfer tax
As a homebuyer, if you are under the age of 35 and move into the house yourself, you are exempt from transfer tax. This will continue to be the case in 2024. The home being purchased cannot be more expensive than €510,000. This is a significant increase from this year, as currently that amount is still €440,000. Are you older than 35 years or have you used this exemption before? Then you pay 2% transfer tax. When you buy a property to rent out, the rate is 10.4%.
Change in mortgage interest deduction
The mortgage interest deduction barely increases. In 2024, there is an increase from 36.93% to 36.97%. If you have an annuity or straight-line mortgage, you are entitled to an interest deduction. If you have another form of mortgage, where the loan was taken out before Jan. 1, 2013, you may also continue to deduct interest paid. In that case you fall under the transitional right. This is possible for a maximum of 30 years.
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