More people are applying for mortgages as interest rates continue to rise

Photo: Dutch News

Rising interest rates led to a sharp increase in mortgage applications in the first quarter of this year, but most of them are from people paying off things they already own.

In the first three months of the year, banks processed more than 191,000 mortgage applications, an increase of 37% compared to the same period in 2021, according to figures from HDN Mortgage Data Network.

Of the applications, nearly 72,000 were to buy a home, despite the shortage of suitable properties. The number of people remortgaging, either to invest in their home or to take advantage of lower rates, has increased by more than 75% year-over-year.

About 10% of the requests were made by people who wanted to pay for energy-saving measures in their homes, HDN said.

According to the mortgage comparison website Geld.nlinterest rates have increased by one percentage point since January.

That means a traditional mortgage with an NHG guarantee and a fixed interest period of 20 years will owe 2.53% interest, down from 1.44% in January, spokeswoman Amanda Bulthuis said.

Thank you for your donation to

The team would like to thank all the generous readers who have donated over the past few weeks. Your financial support has helped us extend our coverage of the coronavirus crisis into evenings and weekends and ensure you are kept up to date with the latest developments. has been free for 14 years, but without the financial support of our readers, we would not be able to provide you with fair and accurate information on all things Dutch. Your contributions make this possible.

If you haven’t donated yet, but would like to, you can do it via Ideal, credit card or Paypal.

Comments are closed.