Thanks to new standards and an adapted calculation, you can now borrow less
As of 1 January 2020, new loan standards for 2020 have been published by the Association of Financing Companies in the Netherlands (VFN). The VFN loan standards serve as the basis for the maximum loan calculation that many parties in the credit market use. The calculation on this website is also based on these standards. To be clear, this is the calculation of the maximum loan and not the maximum mortgage.
The standard amounts change regularly, but this time the calculation itself has also been adjusted. These adjustments are a result of measures taken by the AFM supervisor to force the parties on the loan market to do more to prevent over-crediting. The consequence of the adjustments is that less can be borrowed in 2020 than in 2019.
Calculate the maximum loan with the 2020 standards.
The calculation itself has therefore been adjusted. We do not discuss the calculation itself in detail here (an explanation of the calculation can be found here), but the most important adjustment is that a surcharge has been added to the calculation of the loan standard.
Loan standard = (basic standard) + (15% * (net income – / – standard of housing load – / – basic standard)) + storage
The amount of this surcharge depends on the household type of the applicant for the loan. The following surcharges currently apply to the four different household types:
- Single: $ 40
- Single with children: $ 226
- Living together / married: $ 119
- Living together / married with children: $ 244
By adding this extra surcharge, the budget that someone who wants to apply for a loan can use to spend on a loan has decreased. This automatically leads to a lower maximum loan amount. Especially for people with children, the amount that can be borrowed in 2020 can be considerably lower than in 2019.
Adjustment of loan standards
In addition to the adjustment of the calculation, the loan standards have also been adjusted. This happens regularly. These adjustments also mean that the maximum loan in 2020 will be somewhat lower on average.
For completeness, see below an overview of the old standards (valid from June 2018). You can find the most recent standards here.