Family mortgage
A family mortgage is a mortgage where the lender is not a bank or other financial institution, but a family member. For example, this could be a parent lending money to their child to buy a home, or a grandparent helping their grandchildren finance their first home.
About the family mortgage
A family mortgage works the same as a regular mortgage, except that a family member is the lender. This can have advantages, but there are also risks involved. With a family mortgage, you agree in advance on the terms of the mortgage, the form of repayment, the interest rate, the fixed rate period, the term and the amount you borrow. These conditions are recorded in an agreement at the notary.
Components of a family mortgage
- The amount of the mortgage;
- The description of the property, the collateral;
- The mortgage interest to be paid;
- Mortgage repayment method;
- An obligation (if any) to insure the property;
- The bank's general terms and conditions.
Why choose Marks Wachters notaries?
- Personal
We combine high-quality service with personal attention. - For over 75 years
A household name in Greater Eindhoven and Nuenen since 1949. - Clear
We communicate in understandable language and avoid unnecessarily difficult language.
We are also happy to help you with:
Personal and non-committal
Requesting a quote
A family mortgage has many legal and tax consequences for both the lender and the recipient. You can therefore always contact us without obligation.
