Mortgage conversation
If you want to buy a house, you naturally want to know how much you can borrow. A mortgage advisor helps you calculate your maximum mortgage in a free orientation meeting. If your offer is accepted, the advisor will assist you further in an advisory conversation. He advises you on the right mortgage and arranges the application for you. In this article, you will read what you can expect from the various mortgage conversations and how to best prepare for them.
Go directly to:
- Free orientation meeting for a mortgage
- How can you request a free orientation meeting?
- Find an independent mortgage advisor and real estate agent easily
- How do you prepare well for the orientation meeting?
- What happens during an advisory conversation?
- How do you prepare well for the advisory conversation?
- What happens after the mortgage conversation?
Well prepared for the mortgage conversation
To get you started, we have created a handy checklist for you. This way, you can be sure you have all the documents and information at hand during the mortgage conversation.
Download the mortgage conversation checklist here.
Free orientation meeting for a mortgage
An orientation mortgage conversation, also known as an orientation meeting, is often the first meeting you have with a mortgage advisor. This conversation is intended to help you understand what is involved in taking out a mortgage and what your financial possibilities are. It is usually free and without obligation. This orientation meeting can already take place before you actually decide to buy a house.
During this conversation, the advisor will map out your housing wishes and financial situation. He calculates your maximum mortgage and the accompanying monthly costs. This way, you get an idea of how much you can borrow and in which price category you can view houses.
The advisor also explains to you what he can do for you and what the costs of his services are. Often, mortgage advisors charge a fixed amount for advising and arranging the mortgage, with the costs for starters usually being slightly lower than for those moving up. You can read more about it in our article on the costs of mortgage advice.
Furthermore, the mortgage advisor explains how the process of taking out a mortgage works. He tells you about different mortgage rates and the mortgage types that are possible in your situation.
The orientation mortgage conversation is without obligation. It can take place online via a video call but can also happen at the advisor's office. It's up to you what suits you better and which form you prefer. The conversation usually lasts 30 minutes to an hour, depending on the complexity of your financial situation, your housing wishes, and the questions you have.
After the orientation meeting, you have a good idea of what you can borrow and in which price category you can look for a house. After the conversation, you can receive an orientation card stating what you can (conditionally) borrow, so you are well prepared to make an offer on a house or you can sign up for a new construction project.
How can you request a free orientation meeting with a mortgage advisor?
There are several ways to request a free orientation meeting. If you already know which bank you want to take out your mortgage with, you can contact their mortgage department. Many banks offer a free orientation meeting.
You can often also make an appointment with a mortgage advisor with whom your bank collaborates. But beware: these advisors often have a limited selection of mortgage providers they collaborate with. That's fine if you already have a preference for a mortgage provider, or if you want the convenience of arranging your mortgage through the same bank for all your banking affairs.
Still, we would always advise choosing independent mortgage advisors. Below you read why.
Our advice: choose an independent mortgage advisor
Independent mortgage advisors do not have exclusive cooperation with specific mortgage providers. This means they can offer you a wider range of options. They compare mortgage products from different providers and can often offer you a better mortgage interest rate.
They really help you find the best options, in other words: finding the mortgage that best suits your situation and needs. They don't just look at the lowest interest rates but also consider other important aspects, such as terms, flexibility, and service quality.
If you want to request an orientation meeting with an independent mortgage advisor, you can go to various advisory chains. You can easily make an appointment for an orientation conversation via their website or by phone. You can also make a free appointment with an independent mortgage advisor through Mijn Verkoopmakelaar. How you do that is explained below.
Through Mijn Verkoopmakelaar, you can quickly and easily find the best real estate agents in your area. Register for free and receive non-binding proposals from real estate agents in your mailbox. If you wish, also plan a free mortgage conversation with a mortgage advisor. In 30 minutes, you can ask all your questions about taking out a mortgage and the rates at different banks.
Find a purchasing agent
Looking for a good mortgage advisor? Read here what to watch out for:
How to properly prepare for the orientation meeting?
Have you made an appointment for an orientation mortgage conversation with an advisor? Then he will inform you in advance about what you need to bring to the conversation. Usually, this includes an ID and a payslip. You will also be asked about your assets (such as savings) and any debts (such as a student loan). So it’s handy to have these things roughly mapped out for yourself.
Additionally, it’s useful to have an overview of your monthly expenses. Do you want to buy a house with a partner? Make sure you have the information about his or her financial situation in order as well, so it can be included in the calculations.
During the orientation mortgage conversation, the advisor will make a general calculation of the maximum mortgage based on the basic information about your income and assets (and any debts). Detailed documentation is not yet necessary at this stage.
Do you already have a home with a mortgage?
If you already have a home with a mortgage, it’s useful to bring some information to the orientation meeting. Think of the WOZ value of your current home and the information about your current mortgage, such as the remaining amount of repayment, the interest rate, and the monthly costs of your mortgage.
It’s not that bad if you don’t have this information at hand during the first conversation. You can also provide this information during the advisory conversation. However, for the most accurate first calculation of the maximum mortgage, it is useful!
Do you expect a salary increase soon?
If you expect a salary increase soon, it can be useful to report this to the mortgage advisor during the orientation conversation. This way, the advisor gets a better picture of your future income and can include it in the calculations.
If you have already received a formal confirmation from your employer about the salary increase, you can bring this document to the conversation. This can serve as evidence and help the advisor to map out your financial situation more accurately. It’s also fine to provide this evidence during the advisory conversation.
Financial goals and future plans
Also, think about your financial situation. Consider how much you are willing to pay for monthly costs and how you want to repay the mortgage. You can also discuss this with your mortgage advisor, but it’s always useful to have thought about it beforehand.
Do you have clear future plans, such as starting a family, looking for another job, working less, or living together? Mention these plans during the mortgage conversation. The advisor can take this into account in the advice and give you information about what is generally possible.
Tip: Write down all your questions
To make sure you get everything out of the first mortgage conversation with the advisor, it’s useful to write down your questions. All questions that do not require deep research can be answered immediately by the mortgage advisor. The rest of your questions can be asked during the advisory conversation.
What happens during an advisory conversation?
An advisory conversation is aimed at actually taking out a mortgage. This conversation often takes place after you have found a house and your offer has been accepted, or after you have been selected for a new construction home. During this second mortgage conversation, the advisor will help you choose the right mortgage and map out the required financial documents.
The advisory conversation only takes place after you have decided to proceed with the mortgage advisor. When you actually take out the mortgage, you pay advisory and closing costs to the mortgage advisor. You can read more about it in our article on the costs of mortgage advice.
During the conversation, the advisor goes deeper into the various aspects to help you make the right choice for a mortgage. Because you really go in-depth, this conversation lasts longer, usually about 1.5 to 2 hours. You can also be done faster, depending on the complexity of your situation and the questions you have.
In the mortgage conversation, the advisor discusses some important topics with you. Your income, assets, and any debts (including those of a possible partner) are looked into.
Additionally, the consequences of borrowing the maximum mortgage amount are examined. Possible changes in your personal situation, such as divorce, part-time working, or other income changes, are taken into account. This ensures you have a stable financial basis for now and later.
The different repayment options of the mortgage are also discussed, including the corresponding consequences and risks. The height of the mortgage rates and the duration of the fixed interest period are also discussed.
Finally, insurances are an important part of the advisory conversation. The advisor discusses different risks with you, such as death, unemployment, and disability. The content of the insurances is discussed, as well as the monthly costs for the premium.
Also, the tax deductibility of the costs of your mortgage is discussed in the mortgage conversation.
Read all about mortgages:
How to properly prepare for the advisory conversation?
There are quite a few things you need to prepare before you go into the advisory conversation. Understandably, because this is the moment when the advisor needs to get an accurate picture of your financial situation and wishes. Only then can he provide good advice and close the right mortgage for you.
Your advisor will notify you in advance which documents you need to bring to the mortgage conversation. Sometimes you need to provide some additional documents after the conversation to complete the mortgage application, such as an employer's statement, intent declaration, or a repayment statement of a (study) loan.
Always make sure to bring an ID, such as an ID card or passport. A copy is often already made during the orientation meeting. Think about your financial goals and future plans before the mortgage conversation, so you have a clear view of what you find important concerning your mortgage.
The information below helps the advisor to get a complete picture of your financial situation and to discuss possible risks during the conversation. If you want to be able to check it off for yourself, we have created a handy checklist for you.
Download the mortgage conversation checklist here.
Information to be provided:
- Information about your income
- Information about your assets and debts
- Information about your current home and mortgage (if applicable)
- Information about your new home (if applicable)
- Information about your pensions and insurances
1. Information about your income
The advisor first needs specific information about your income. If you are employed, make sure to have recent payslips. If you are self-employed, you will typically be asked for the last three income tax returns or the annual figures of the past three years. If you haven't been self-employed for long, you will also need the payslips from the previous periods in addition to the annual figures of the past year.
Employer's statement
When you make an actual mortgage application, an employer's statement is also needed. This is an official document provided by your employer containing information about your employment relationship and income. This statement is used by mortgage lenders to assess your financial situation and determine how much you can borrow for a mortgage.
The employer's statement includes details about your gross income, the type of employment (e.g., permanent or temporary), the duration of the employment, and the position you hold. The document must be signed by an authorized representative of your employer.
Intent declaration
You need an intent declaration when you make a mortgage application and do not have a permanent employment contract at that time, but you do have a prospect of a permanent contract in the near future. This declaration is used by the mortgage lender to assess the stability of your income and determine if you qualify for a mortgage.
An intent declaration is a document in which your employer declares the intention to take you on permanently after a temporary employment contract expires.
2. Information about your assets and debts
Furthermore, the advisor also needs other financial documents, such as statements from your savings account and/or investments. If it shows you have assets, it can affect the mortgage conditions and interest rates you can get. Also, bring documentation and statements of any debts, such as a student loan. If you had a loan that is now repaid, make sure you can provide the repayment evidence.
On our page about buying a house with a student loan, you can read more information about taking out a mortgage with a student loan.
3. Information about your current home and mortgage
If you already have a house with a mortgage, bring documentation of the WOZ value of the house and mortgage details, such as the remaining mortgage debt and monthly charges.
Good to know: if you have to refinance your mortgage, you will incur costs. Read more about the costs of refinancing a mortgage.
4. Information about your new home
If your offer on a house is accepted and the purchase agreement is already in place, you will also need to provide information about your new home. Think of a copy of the appraisal report or the WOZ assessment of the house you have made an offer on. Additionally, you need to provide the purchase agreement as proof that the house purchase is finalized.
If you plan to make renovations and want to take out a construction deposit for this, it is also essential to provide a specification of the renovation costs.
5. Information about your pensions and insurances
Also, prepare documentation regarding your insurances. Think, for example, of the policy document of a life insurance you have taken out with your partner. Also, download your pension overview on www.mijnpensioenoverzicht.nl. The mortgage lender needs this information to assess whether you can still pay your mortgage at the time you retire.
What happens after the mortgage conversation?
After the advisory conversation, the mortgage advisor requests an interest offer from the mortgage provider. He sends the documentation you provided with the application. You then receive a proposal from the mortgage provider, in which you read the specific terms of the mortgage. Think of the mortgage term, the mortgage interest, and the costs.
Once the offer is in, the advisor will thoroughly discuss it with you. This third conversation is often shorter than the advisory conversation because it mainly concerns discussing and signing the official documentation.
After reviewing the interest offer and making any changes, the mortgage offer is signed. This is the moment you officially agree to the offered terms of the offer. This is an important step, as it finalizes and records the financial aspects of the purchase.
During this process, it is important to remember that although you have accepted an offer on a house and may have already signed a purchase contract, the house is not officially yours until the financing is complete. Only when you are at the notary and the house is officially transferred to you, are you officially a homeowner. This is the celebratory moment when you also receive the key to your new home!
