Monday, 13 February 2021 5:50 PM

Hundreds of millions flow into Infra Bank

Dutch homeowners pay en masse extra mortgage payments to their bank, in addition to their monthly mortgage payments. For example, more than hundreds of millions of euros have flowed into Infra Bank in recent months. This observation could be read last Saturday in an interview with financial director Bert Bruggink of the Infra Bank in the NRC Handelsblad. Bruggink suspects that the extra repayments are related to the possible curtailment of the mortgage interest deduction.

“Despite falling house prices, the debt-to-collateral ratio in our mortgage portfolio is improving. This is because households have paid much more in recent months. That is a new process, '' Bruggink said. Homeowners are already clearly taking into account possible rising monthly costs, if the mortgage interest deduction were to be abolished or limited. They repay faster because a lower mortgage debt leads to lower monthly payments. CDA MP Elly Blanksma thinks independent repayments of private individuals is a good thing. She proposes that from now on banks will put energy into stimulating additional repayments by, for example, not introducing any thresholds, such as fines. "The often restrictive penalty clauses require a flexible attitude from the banks. Repayments should be rewarded, not punished."


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