Financial changes

Sell or stay?

A new mortgage at a higher rate, retirement, a lower income: sometimes the housing costs no longer fit. The earlier you do the sums, the more options stay open.

Know how the bank calculates

Banks check affordability with an imputed interest rate of about 5 percent, plus maintenance and amortisation. These costs should not exceed one third of income. At retirement the bank recalculates, then with your pension.

Talk to the bank early

A longer term, a different type of mortgage or lower amortisation can give you room. Banks have more leeway as long as every payment arrives on time. Do not wait until a payment is missed.

Compare selling and staying

Put both paths side by side: the costs if you stay, and the proceeds after mortgage, taxes and costs if you sell. Include the rent or the smaller home afterwards.

Decide yourself rather than wait

A sale you plan yourself leaves you time for a good price. The earlier you decide, the less the price depends on time pressure.

How Kantello helps

The listing on Kantello is free, the sales package costs a fixed price with no commission. You know beforehand what the sale costs and keep more of the proceeds.

List a property Pricing Free valuation

Three steps, free. We get back to you in person.

Common questions

What happens if I can no longer pay the mortgage?

Talk to your bank at once. If payments stop, the bank can terminate the mortgage and demand the realisation of the mortgaged property. A sale you plan yourself leaves you more room on price and timing.

Does the bank recheck affordability at retirement?

Often yes, at the latest when the mortgage is renewed. Then your pension income counts. Many banks expect the second mortgage to be repaid by retirement.

Can I transfer my mortgage to a new home when I sell?

With many banks yes, if you buy a new home and the bank finances it. That avoids an early repayment penalty. Ask about the conditions before you sell.

Guides

Other situations

General information, not legal or tax advice. For your own case, ask the tax office, the notary or a specialist.