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How does it work?

The loan (mortgage with home equity loan) can be up to 80% of the property’s value under the Valuation of Immovable Property Act (WOZ) value. You can use this excess value to make your home more sustainable or make modifications in and around the home.

You can use the loan, for example, for:

  • Installing double glazing.
  • Insulating the floors
  • Insulating the roof
  • Modifying the bathroom.
  • Modifying a bedroom on the ground floor.
  • A modification so you can keep moving around your home or garden more easily.

Once the local authority has given its agreement, you can apply for the loan at SVn Bank.


You will need to meet some conditions:

  • You live in the City of Leeuwarden.
  • You are both aged 57 or above.
  • 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.
  • 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.
  • 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 you will have to arrange it through a civil-law notary. You can co-finance the notary fees with the loan.

The advantage of a home equity loan is that the interest and repayments are payable in arrears. That means following decease or the sale of your home. You do not pay these costs monthly.

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?

Contact the City of Leeuwarden.