Easier mortgages for freelancers and flexworkers

Easier mortgages for freelancers and flexworkers

Steps are being taken to make it easier for people on temporary contracts and freelancers to be approved for a mortgage in the Netherlands.

Around 30 per cent of the Dutch workforce, or two million people, have a temporary contract or work as a freelancer.

A trial will being in January 2014, with a pilot group of 1.200 flexworkers from Randstad, the largest staffing company in the Netherlands. The trial will be run together with Obvion Mortgages, a subsidiary of Rabobank, and home owners’ association VEH.

Mortgage assessments

The applicants will be not be assessed primarily on their work or employment history, but also on their work prospects, mobility, flexibility and willingness to invest in further education.

Rather than having to supply and employer’s statement as employers do now, these applicants will be assessed for a "prospects statement" which will be treated the same way by Obvion.

"The mortgage must naturally fit within their budget, but that applies to everyone," said a spokesperson from Obvion.

Good news for freelancers

"This is a good development for flex workers and the self-employed", said Johan Marrink, president of ZZP Netherlands.

Currently it is difficult for freelancers and flex workers to meet the requirements for a mortgage, they must demonstrate that they have had a fairly stable income for at least the past three years.

It comes after evidence of trend in legal decisions that flexible workers are gaining more protection in the Netherlands.

It should be noted that there are still some further restrictions that apply to non-Dutch citizens who are looking for an expat mortgage in the Netherlands.

Source: RTL Nieuws

Alexandra Gowling


Alexandra Gowling

Alexandra is an Australian citizen and an experienced expat, having spent (quite a bit of) time in Asia before coming to the Netherlands a year ago. She enjoys writing, reading...

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