The housing market is cooling down: there are more houses for sale and less potential buyers. Sellers receive fewer offers and overbidding isn't the norm anymore. This makes sellers willing to accept an offer below the asking price, especially if you put in an offer with attractive conditions.
Put in an offer with the Hanno Mortgage Promise
With the Hanno Mortgage Promise, our mortgage advisors declare the amount of your maximum mortgage based on your income, savings and financial obligations. It's often possible to bid with a short financial clause or without one. That gives sellers instant clarity about the sale of their house and they don't have to be in doubt until you'll have arranged your mortgage. That makes them open to accepting an offer below their asking price.
The benefits in short
- Know exactly how much you can borrow
- Bid with a short or without a financial clause
- Chance at a lower purchase price
- Mortgage quickly arranged after purchase
Why put in an offer with the Hanno Mortgage Promise?
√ Chance at a lower purchase price
√ Short or no financial clause
√ Mortgage quickly arranged
Buy a house with the Hanno Mortgage Promise
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1. Budget: how much can you borrow?
A free appointment will give you instant clarity about your budget.
Call 030 - 208 2010
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2. Bid with the Mortgage Promise
This will give you a chance at a lower purchase price.
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3. Offer accepted? Your financial plan
First we look at your financial situation, then at your mortgage.
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4. Choose your mortgage lender
Based on your mortgage plan we'll choose the best mortgage lender.
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5. Mortgage secured, to the notary!
We fix the mortgage from A to Z, you sign the deed at the notary.
Happy customers
FAQ Hanno Mortgage Promise
The Hanno Mortgage Promise is a calculation of your maximum mortgage based on your income and savings, checked by our mortgage advisers. This gives you clarity about your budget to buy a house. As a result you can often bid with a short or without a financial cancellation clause. Because mortgage lenders are busy, we often recommend to include a short financial clause of two weeks after the receival of the valuation report.
Even if you can’t completely dispense the financial clause, you offer the seller speed and security with the Hanno Mortgage Promise. After all, your details have been checked by a mortgage advisor and the mortgage you need to buy the house is feasible. And because we already have almost all of your information and documents, the mortgage application process will proceed much faster.
With the Hanno Mortgage Promise you can often bid without a financial clause or with a short one, but what does that actually mean? In the Netherlands you can’t get pre-approved by mortgage lenders. Therefore most people put in their bid with a financial clause. A financial clause is a safety net to cancel the purchase without penalties if you don’t succeed in arranging the mortgage. In general this takes up 6 to 8 weeks.
If the buyer doesn’t succeed in obtaining the required mortgage, the purchase can be cancelled. All this time the seller can’t be sure about the sale of their house. Therefore sellers prefer offers without a financial clause, even if it’s not the highest bid, because it gives them instant clarity about the sale of his property.
An offer without a financial clause gives you an advantage over other buyers. Yet beware that if you do that and can’t obtain a mortgage, you’ll have to pay the seller a fine. In general this is 10% of the purchase price of the property. Of course this isn’t something you want to risk!
However, with the Hanno Mortgage Promise it’s often safe to drop or shorten the financial clause. It’s quite similar to a mortgage pre-qualification. It’s a thorough check of your maximum mortgage based on your financial situation. Because it gives you clarity about your budget, you’ll know how much you can offer on a house and you can safely drop or shorten the financial clause, which gives you an advantage while house hunting.
Right now the Hanno Mortgage Promise costs €550. Check out our current fees below.
You only have to pay for our Hanno Mortgage Promise, when your bid was successfull!
The Hanno Mortgage Promise is valid up to 2 months. When your Mortgage Promise has expired or when something has changed in your (financial) situation, it can affect your maximum mortgage and your ability to bid with a short or without a financial clause.
If something has changed, please contact your mortgage advisor for a new Hanno Mortgage Promise. Since we already have all your details, you’ll receive a new one in no time.
With the Hanno Mortgage Promise it’s not always possible to bid up to the maximum mortgage based on your financial situation. Your maximum mortgage also depends on the value of the house, of which you’re allowed to borrow up to 100 percent. If you overbid and the purchase price is higher than the value of the house, you’ll have to pay the difference out of your own pocket. You’ll have to take this into account when you put in your bid, because the Hanno Mortgage Promise doesn’t cover that difference.
Tip: due to the extreme workload of valuators and mortgage lenders we currently advise our customers to bid with a short financial clause of about 2 weeks after the receival of the valuation report.
Calculation example
- based on your financial situation your maximum mortgage is 450,000 euros
- Your new property has been valuated at 420,000 euros
- The agreed purchase price is 445,000 euros
- Your maximum mortgage for this property is 420,000 euros
You’ll have to put in savings to pay the difference of 25,000 euros between the purchase price (445,000 euros) and appraisal value (420,000 euros).
You can put in an offer that’s higher than the expected appraisal value, IF you have enough savings. The Hanno Mortgage Promise is a calculation of your maximum mortgage based on your financial situation. When you overbid the appraisal value of the home may be lower than the purchase price. Since you can borrow up to 100% of the property’s value, you can’t bridge this gap with a mortgage and the Hanno Mortgage Promise doesn’t cover it. If you want to overbid safely discuss your bid on a house upfront with your mortgage advisor and real estate agent.
Of course there are some terms and conditions that you'll have to meet before we can give you a Mortgage Promise.
Our mortgage advisors are happy to help you.
Improve your chance of buying a house
Get the Hanno Mortgage Promise