It is December; the end of this year is in sight, but also the start of the new. The end of 2017 also means the end of certain schemes. Regulations that are no longer applicable from 1 January 2018.
The residual debt financing is such a scheme that changes *. Only this year you may still deduct the interest on your residual debt for 15 years for tax purposes. Are you selling your house in 2018 and is your house under water? The interest costs are no longer deductible for the residual debt financing.
Sell a house in 2017
If you manage to sell your house this year, if you are left with a residual debt after the sale, you can deduct the interest costs of the residual debt financing for 15 years. This scheme was devised by the government during the crisis on the housing market in 2012. The scheme was to become temporary and that period is now ending. You only benefit this month from this possibility of tax deduction.
Sell your house in 2018
Selling your house in 2018 for an amount lower than the mortgage taken out means: you have a residual debt and you can no longer deduct the interest costs for financing this debt. You must arrange a different financing for your residual debt from the new year.
Co-financing with the mortgage for the new home is not an option because the maximum mortgage amount of 100% offers no room for it. You will have to pay the remaining debt with savings or you take out a consumer credit.
Financing residual debt with a loan
You have little influence over when your house is sold. Will that still be possible in 2017? Or will that only succeed next year. If the sale is no longer realized this calendar year, you can make an appointment with our advisor. He can present you with the options on how you can finance the residual debt on your home with a loan. We have the lowest interest rate in the Netherlands for both a personal payday loan and a revolving credit. Because you have to pay off the residual debt on your home .
Most people opt for the residual debt financing for a personal payday loan because of the fixed interest rate and fixed term. The interest rate is currently historically low, so you will benefit from this favorable low interest rate throughout the entire term. A term of up to 180 months is possible for a residual debt financing if you opt for a personal payday loan.
Take out a loan online
Good preparation is half the job. Request a loan online through our quote form so that you know what offer we can make to you. Do you already have a residual debt financing but are you paying a high interest rate? Of course you can also transfer your existing loan online to us free of charge.
* Of course, not only does the scheme for residual debt financing change. For more tax-related changes we refer you to the website of the Tax Authorities.