8 organiSationS to hElP you

When you buy a home, you

assume that your present income

will enable you to continue making

the monthly mortgage payments

in the future too. Unfortunately

circumstances change and you

may be unable to fulfill your

commitments, either temporarily

or permanently. Unemployment

or disability are examples of such

situations. Where couples divorce,

one of the two incomes may be

lost. In extreme cases, the house

has to be sold.

Prevention is better than sale

It is very important to prevent payment arrears and if such

a situation does occur, to resolve it as soon as possible.

Overcome any embarrassment and seek help in good time.

Remember: you are not the only one with payment problems.

There are numerous organisations which will be happy to

help you. You can prevent many difficult situations by taking

action and getting help. Here are eight useful tips to help you

resolve possible payment problems and existing arrears.

01 Contact your mortgage lender

This is definitely top priority. If you are facing payment

problems, contact your mortgage lender immediately. Your

intermediary or mortgage adviser can probably give you the

right telephone numbers. Check correspondence from your

mortgage lender to see which telephone number to call. It is

vital not to waste any time and take immediate action if you

are facing money problems. In many cases, payment problems

are the result of a change of income, for example as a result

of unemployment. This is not always a permanent situation.

During the period that you have no or less income, it may be

possible to reach an agreement with your mortgage lender.

You may be in paid employment again within a few months

and be able to repay the arrears. Without having to sell

your home.

02 Contact the Belastingdienst (Inland Revenue)

The interest that you pay on your mortgage is tax deductible.

This means that some of the interest you pay is refunded.

This can be arranged by completing a tax return every year.

You can also receive the refund every month. You can request

the ‘verzoek voorlopige teruggaaf’ (application for interim

refund) form from the Inland Revenue or download it from

www.belastingdienst.nl.03 Visit the NIBUD website

The Nationaal Instituut voor Budgetvoorlichting

(Consumer Credit Counselling Service) provides several

very useful tips about how to keep a grip on your financial

situation and prevent payment arrears. Visit the website:

www.zelfjeschuldregelen.nl and follow the steps. For more

information, you can also visit: www.nibud.nl.

04 Contact the municipality

If your income is temporarily insufficient to pay your mortgage,

you may be eligible for a ‘woonkostentoeslag’ (living costs

allowance) from the municipality. This is a temporary

supplement to your income, similar to the rent subsidy. The

criteria for receiving the allowance vary in each municipality.

Information is available from your municipality.

05 Contact your Gemeentelijke Kredietbank (GKB)

or a municipal credit bank

If you have several debts, a Gemeentelijke Kredietbank can

mediate between you and your creditors. This can result in

a payment arrangement based on your income. Contact your

municipality for the address of your local Gemeentelijke

Kredietbank. Or visit www.nvvk.eu for the addresses

of Gemeentelijke Kredietbanks or municipal banks in

the Netherlands.

06 Contact your employer

Your employer can help you reach a payment arrangement

with your mortgage lender. For example, you can arrange

to have some of your monthly salary paid directly to the

mortgage lender so that regular payment instalments are

maintained and/or the arrears can be paid off. You might

also consider using your holiday allowance or thirteenth

month to pay your arrears.

07 Mortgage payment facility (WLF)

If you already have a mortgage with NHG and you are

temporarily unable to make your mortgage payments in full

as a result of unemployment, disability, divorce or death of

your partner, you may be eligible for the WLF. The WLF allows

you to add your payment arrears to your mortgage so that

you have more time to bridge a difficult period in your life.

In order to be eligible for the WLF, contact your mortgage

lender. They will determine whether and under what conditions you may use the WLF. Your mortgage lender will assess

the maximum amount you are able to pay on mortgage

payments with your present income. The part that you are

temporarily unable to pay will be added to your mortgage

to a maximum of 9% of the total mortgage sum. Once your

income has been restored, your mortgage lender will agree

a repayment schedule with you.

The WLF is therefore not a ‘mortgage holiday’ but offers you

the possibility to bridge a difficult period so that you can stay

in your home.

08 Contact an estate agent

If none of these tips helps resolve your payment problems,

you may have to start thinking about selling your home through

an estate agent. It is essential to do this in consultation with

your mortgage lender. This prevents your payment arrears

rising even further and limits any residual debt.

Useful addresses

–  De Belastingdienst (Inland Revenue), www.belastingdienst.nl

– Gemeentelijke Kredietbanken (GKB), www.nvvk.eu

–  Nationaal Instituut voor Budgetvoorlichting (NIBUD),

www.nibud.nl, www.zelfjeschuldenregelen.nl

– Nationale Hypotheek Garantie (NHG), www.nhg.nl

– Centrum voor Werk en Inkomen (CWI), www.werk.nl

If you have any questions, please contact NHG:

0900 11 22 393 (€ 0,35 p/m). We will be happy to