How you will miss out on nearly 100,000 euros in mortgage by 2023 due to private lease
Private lease car and mortgage not a good combo
That having a private lease affects your mortgage amount is, of course, no longer a surprise. It has been known for years. But the rules to get a mortgage are getting stricter and stricter, and that is what can be seen with different mortgage lenders. In this article, we outline the implications of a private lease for taking out a mortgage.
Calculation example
Of course, everyone’s financial situation is different. Still, to give an idea of the consequences, in this calculation example we use two people in their 30s, each with a gross annual income of 45,000 euros per year. This gross income is your salary before taxes and contributions are deducted. Your gross annual income includes vacation pay and year-end bonus or a thirteenth month. Both have permanent contracts. Only one of the two people has a private lease contract, paying 450 euros per month.
Also important to know
Also important to know before diving into the figures below: in this example, we only included private leases in the mortgage calculation. An installment phone should also be included in the mortgage calculation. There is no student debt in this calculation example. All mortgage amounts are based on 10-year fixed interest rates. Interest rates vary by bank.
Rabobank
- Mortgage amount without debt: 435,365 euros
- Mortgage amount with private lease: 345,289 euros
- Difference: 90,076 euros
ABN Amro
- Mortgage amount without debt: 432,825 euros
- Mortgage amount with private lease: 354,438 euros
- Difference: 78,387 euros
SNS Bank
- Mortgage amount without debt: 431,788 euros
- Mortgage amount with private lease: 346,447euros
- Difference: 85,341 euros
Region Bank
- Mortgage amount without debt: 435,365 euros
- Mortgage amount with private lease: 351,527 euros
- Difference: 83,838 euros
Hypothecary
- Mortgage amount without debt: 439,508 euros
- Mortgage amount with private lease: 354,109 euros
- Difference: 85,399 euros
Nationale Nederlanden
- Mortgage amount without debt: euros
- Mortgage amount with private lease: euro
- Difference: 85,399 euros
Solution private lease and mortgage
The solution, by the way, is very simple. Use private leasing only after your mortgage application has been approved. Only then will your private lease not affect your mortgage. There is nothing wrong with private leasing at all, of course, but you have to play it tactically. So think carefully about the implications of a private lease, and at least make sure that you can also cancel monthly should you actually go out and buy a house. It really can save tens of thousands of dollars. Your private lease is always reported to BKR, an abbreviation for Bureau Krediet Registratie. This agency, as its name implies, registers credits, official financial obligations, over €250 with a maturity of one month or more. More on BKR.
