Home equity loan
Is your property worth more than your mortgage? Are you aged 57 or above? If so, check the conditions. To you want to continue to live safely and comfortably or make your home more sustainable? If so, you can apply for the home equity loan. First, check whether you are eligible for a grant. Read more on the pages Grant for energy-saving housing measures or Grant for home insulation.
Are you unwilling or unable to apply online?
Download and complete the form Aanmelding Verzilverlening. Send the form to the City of Leeuwarden. You can also hand it in at the Town Hall.
What can you borrow for?
- Making your home more sustainable, overdue maintenance and home improvements. Examples include replacing old windows for double-glazing, floor insulation and roof insulation.
- Measures in your home or garden to enable you to live independently at home for longer. Examples include bathroom modifications or moving the bedroom to the ground floor.
- Having asbestos removed in and around your home.
- Necessary help in and around your home or personal assistance to live at home for longer.
How does it work?
With the home equity loan, you pay the interest and repayments in arrears. That means following decease or the sale of your home. You do not pay these costs monthly. This is an advantage over a normal loan. There is also a favourable interest rate of 1.7%.
Road plan
- You can apply for the home equity loan using the application form on this page. The local authority checks whether these measures are allowed.
- If the application is approved, you will receive a letter granting the loan.
- With this letter, you can apply for the loan from SVn (Stichting Stimuleringsfonds Volkshuisvesting Nederlandse Gemeenten). SVn administers the loan on behalf of the local authority.
- Finally, SVn checks whether your home has sufficient equity.
Model calculation
You will find a model calculation on the SVn website. This enables you to calculate whether you can apply for the home equity loan.
Check other loans first
Before you apply for the home equity grant, check the local authority’s conditions of borrowing from the Heat Fund and the Sustainability Loan first.
Heat Fund
For owner-occupiers with a collective income of less than € 60,000, the Energy Savings Loan via the Heat Fund may be more attractive than the Home Equity Loan. The Energy Saving Loan from the Heat Fund charges an interest rate of 0% for this target group. You will find more information at the Heat Funds website.
Sustainability loan
With the Sustainability Loan you borrow money to make your home more energy efficient. For example, by installing floor insulation or facade insulation. Or by buying solar panels or a heat pump. Check the conditions of the Sustainability Loan on the Apply for a Sustainability Loan page .
Conditions Home equity loan
You will need to meet some conditions:
- You live in the City of Leeuwarden.
- You both meet the age requirement (around 57). The exact minimum age for the home equity loan is the statutory state pension age minus 10 years. Check your AOW age on the Sociale Verzekeringsbank website. Take 10 years off that to check if you are the right age.
- You own the house for which you want to apply for a loan.
- You live/are going to live in the house for which you want to take out a loan.
- Your house has sufficient equity.
- The house you want to take out a loan for is at least one year old.
- In the case of marriage/registered partnership or joint ownership, you must apply jointly for the home equity loan. Your partner must therefore also meet the conditions of the home equity loan.
- You can borrow a minimum of €2,500.- and a maximum of €25,000.- with the home equity loan.
When can I make repayments?
- At the end of the term (75 years).
- Upon selling the home.
- Upon the death of the longest-living home owner.
What is a mortgage loan?
The home equity loan is a mortgage loan. That means that your home is collateral for this loan. You arrange this with a civil-law notary. You can co-finance the notary fees in the home equity loan.
You will find more information at website of SVn.
Can I go to my own mortgage provider?
Not all mortgage providers offer the home equity loan product. However, you can ask your own mortgage lender if you can qualify to cash in the excess value (equity) of your home.
Tax deduction
The home equity loan is not tax deductible – it belongs in box 3, mortgages, of your tax return. Your financial adviser will be able to explain this to you.
Do you have any other questions?
We want to help make your home more sustainable. More information on subjects such as grants, tips, help from an energy coach and advice is available on the Energieloket Leeuwarden website. If you have any other questions, contact the City of Leeuwarden.
Are you unwilling or unable to apply online?
Download and complete the form Aanmelding Verzilverlening. Send the form to the City of Leeuwarden. You can also hand it in at the Town Hall.
What can you borrow for?
- Making your home more sustainable, overdue maintenance and home improvements. Examples include replacing old windows for double-glazing, floor insulation and roof insulation.
- Measures in your home or garden to enable you to live independently at home for longer. Examples include bathroom modifications or moving the bedroom to the ground floor.
- Having asbestos removed in and around your home.
- Necessary help in and around your home or personal assistance to live at home for longer.
How does it work?
With the home equity loan, you pay the interest and repayments in arrears. That means following decease or the sale of your home. You do not pay these costs monthly. This is an advantage over a normal loan. There is also a favourable interest rate of 1.7%.
Road plan
- You can apply for the home equity loan using the application form on this page. The local authority checks whether these measures are allowed.
- If the application is approved, you will receive a letter granting the loan.
- With this letter, you can apply for the loan from SVn (Stichting Stimuleringsfonds Volkshuisvesting Nederlandse Gemeenten). SVn administers the loan on behalf of the local authority.
- Finally, SVn checks whether your home has sufficient equity.
Model calculation
You will find a model calculation on the SVn website. This enables you to calculate whether you can apply for the home equity loan.
Check other loans first
Before you apply for the home equity grant, check the local authority’s conditions of borrowing from the Heat Fund and the Sustainability Loan first.
Heat Fund
For owner-occupiers with a collective income of less than € 60,000, the Energy Savings Loan via the Heat Fund may be more attractive than the Home Equity Loan. The Energy Saving Loan from the Heat Fund charges an interest rate of 0% for this target group. You will find more information at the Heat Funds website.
Sustainability loan
With the Sustainability Loan you borrow money to make your home more energy efficient. For example, by installing floor insulation or facade insulation. Or by buying solar panels or a heat pump. Check the conditions of the Sustainability Loan on the Apply for a Sustainability Loan page .
Conditions Home equity loan
You will need to meet some conditions:
- You live in the City of Leeuwarden.
- You both meet the age requirement (around 57). The exact minimum age for the home equity loan is the statutory state pension age minus 10 years. Check your AOW age on the Sociale Verzekeringsbank website. Take 10 years off that to check if you are the right age.
- You own the house for which you want to apply for a loan.
- You live/are going to live in the house for which you want to take out a loan.
- Your house has sufficient equity.
- The house you want to take out a loan for is at least one year old.
- In the case of marriage/registered partnership or joint ownership, you must apply jointly for the home equity loan. Your partner must therefore also meet the conditions of the home equity loan.
- You can borrow a minimum of €2,500.- and a maximum of €25,000.- with the home equity loan.
When can I make repayments?
- At the end of the term (75 years).
- Upon selling the home.
- Upon the death of the longest-living home owner.
What is a mortgage loan?
The home equity loan is a mortgage loan. That means that your home is collateral for this loan. You arrange this with a civil-law notary. You can co-finance the notary fees in the home equity loan.
You will find more information at website of SVn.
Can I go to my own mortgage provider?
Not all mortgage providers offer the home equity loan product. However, you can ask your own mortgage lender if you can qualify to cash in the excess value (equity) of your home.
Tax deduction
The home equity loan is not tax deductible – it belongs in box 3, mortgages, of your tax return. Your financial adviser will be able to explain this to you.
Do you have any other questions?
We want to help make your home more sustainable. More information on subjects such as grants, tips, help from an energy coach and advice is available on the Energieloket Leeuwarden website. If you have any other questions, contact the City of Leeuwarden.