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The mortgage limit with a national mortgage guarantee should be raised significantly next year, according to Vereniging Eigen Huis. This year, the NHG limit is €355,000, but since there are few homes for sale at this price, VEH wants to increase the maximum value to €440,000 next year.
This brings the NHG limit closer to the average home selling price, which was €448,000 last quarter. “In this time of great uncertainty, it is important that buyers, especially novices, are financially protected via NHG,” says Cindy Kramer, Director of VEH. “Without NHG, it would be even more difficult for first-time buyers to purchase their first home.”
The NHG limit is already adjusted annually according to a fixed system. According to this system, the maximum in 2023 will be about 390 thousand euros. But the association finds this insufficient and calls on NHG and the government to abandon this at once.
NHG is open for that
NHG says in response that it is already thinking about it and is discussing this with the Ministries of Finance and the Interior. “On the one hand, we deliberately chose a system that more evenly follows the average home price, in order to create a stabilizing effect, both when home prices rise and fall,” says an NHG spokesperson.
“On the other hand, the sharp increase in prices means something to the accessibility of our safety net. It seems that there is more risk in the housing market and we would like to be able to support our target group if they run into financial problems.”
Average 27 months
The NHG limit for 2022 is based on individual average premiums from 27 months through August 2021. Given this extended period, rapid price increases are unlikely to translate into an upper limit.
NHG is now studying the short- and long-term effects of changing this system. The organization says that it will become clear in September whether something will be changed and therefore the limit will rise faster with prices.
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