Yes, it is possible to get a mortgage with a BKR registration. However, an existing BKR registration can affect the amount of the maximum mortgage you can get, because the loan is counted in the assessment.
The mortgage with BKR registration is a headache for many people. Therefore, chances are you will be left with many questions when faced with it.
For example, how can you be sure if you are dealing with a BKR registration? What do the different codes mean for your mortgage application? And is a mortgage with BKR registration possible at all?
At Dynamite Netherlands, we have years of experience helping people get mortgages, even with BKR registrations. If necessary, we can also help you remove unwarranted BKR registrations. How, you can read in this guide. (Little time to read, but just get rid of your registration quickly?) Then click here for a free consultation.
Explanatory video on mortgages by Mr. Frank Visser & Dynamite Netherlands.
Wondering if we can get your registration removed? Then request a no-obligation intake interview.
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In this mortgage with BKR registration guide:
At Dynamite Netherlands we have been working since 2012 to create more clarity in the impenetrable jungle of BKR registrations. That's why we list below everything you need to know about taking out a mortgage with BKR registration.
Requesting an intake interviewThe BKR - Bureau Krediet Registratie - keeps a record of the loans and credits granted to every Dutch person. The listing of a loan or credit in this overview, we call a BKR registration.
The various registrations together are also called a person's credit report. This gives a picture of how creditworthy someone is. Or, in other words, how responsible it is to grant someone (new) credit.
All credits or loans of €250 or more are registered in this way. (You can read more about this later in this manual).
First of all, we speak of a positive BKR registration. There is a loan, but the repayments have always been paid on time.
A-coding
Does a payment arrears arise? Then this is converted into a so-called negative BKR registration. This can be recognized by an "A coding" at the registration: a arrears report. Have you repaid the loan or credit in full? Then the registration is closed, identified by an end date and an H-coding (recovery notification). However, this registration remains thereafter for five years.
The latter fact in particular can cause you to encounter unpleasant surprises when applying for a mortgage due to registration.
Exactly how a mortgage with BKR registration is affected depends on the nature of the registration and any added coding. You can read more about those codes later in this guide.
For here, it is enough to understand the difference between the effects of positive and negative registration on your mortgage application. In fact, both positive and negative registration can have an impact.
Applying for a mortgage with positive registration, for example, affects the maximum amount you can borrow.
After all, as long as the loan is not repaid and you owe monthly installments, it lowers your financial room for mortgage repayment. This will lower the calculation of the maximum mortgage burden you can bear.
Has the loan been repaid and the positive registration thus closed? Then it will no longer affect your mortgage application.
Applying for a mortgage with negative registration is usually more complicated. That's why we'll go into this specifically in more detail in the next section of this guide.
As we wrote above, a negative registration remains visible for up to five years after the loan was closed.
H-coding
There is then a so-called H code, or recovery notice. Still, it remains visible to credit and mortgage lenders that you have fallen behind on payments in the past.
This may make them reluctant to give you a (new) mortgage.
What makes taking out a mortgage with BKR coding even more complicated is that there are different types of negative registrations.
In fact, besides the A and H coding, the BKR registration may also include a number between 1 and 5. This is an additional coding that - together with the A or H - indicates the status of the arrears.
In other words, the A or H indicates whether the backlog is active or recovered. The number at registration, gives an indication of the severity of the arrears report.
Therefore, the chances of success in applying for a mortgage with BKR registration depend largely on the coding. You may encounter these BKR codes with your negative registration:
Of these, the first four codes in particular apply to mortgage applications. Below we walk through a combination of the three most common codes.
To take out a mortgage with BKR A1 coding, first of all, it is important that the coding be restored.
That is, the arrears must be caught up, otherwise there is no chance that you will be granted a new mortgage. As we have seen, this can be identified by a recovery notice (H code).
Even better is when the entire loan to which the A1 code applied has since been repaid. The BKR registration is then closed, identified by an end date.
However, even with a closed BKR registration on which there has been an A1 code, a mortgage lender may still be reluctant to give you a loan. The more A1 codes you have to your name, the more difficult it may be to get a mortgage.
Is that why you want to have your closed A1 codes removed? Then schedule your free, no-obligation intake consultation with one of our specialists today.
A mortgage with BKR A2 coding often becomes quite difficult already. After all, for the credit or mortgage lender, it is a sign that there was a serious payment default.
Even when the entire debt and the credit to which it related have since been repaid, mortgage lenders will be reluctant to offer a new mortgage.
In other words, even a BKR A2 with an end date can significantly hinder your mortgage.
With multiple A2 codes, your chances of getting the benefit of the doubt become increasingly slim. To increase your chances, the following is important:
In the latter case, it is important that you can demonstrate that the coding disproportionately interferes with your daily life.
The 3 code makes applying for a mortgage with BKR registration the most difficult.
This coding shows that a portion of the debt has been charged off or forgiven. A lender does this only as a last resort, to still get some of the money back.
Learn more about a Mortgage with BKR A3 here.
Above, we discussed how a BKR registration comes about. Then we went into more detail about why it is that a mortgage and BKR registration often do not go well together.
You were also able to read about how different codes affect your chances of getting a (new) mortgage.
But what does this mean for you? What does applying for a mortgage with BKR registration look like in practice?
You may have landed on this page because you have one or more registrations to your name and are curious about your mortgage options. Or your mortgage broker has advised you to find out if there is a BKR registration in your case.
Whatever your situation: the following step-by-step plan will help you get a grip on your mortgage application with BKR registration. You will read how to clarify your situation, what to look out for and what the options are in your case.
Here we go.
The mortgage broker asked about it for a reason. For applying for a mortgage, BKR registration insight is important.
That way you won't have any unpleasant surprises later on. For example, it may be the case that you unknowingly have a registration in your name, as a result of which the amount you can borrow is suddenly much lower than calculated.
Even more annoying is when an application is in progress and a past negative registration throws a spanner in the works.
Many people do not realize that they have a registration. For example, most people do not know that a phone plan with a free device can also already create a registration. The possibility of being in the red on the bank account is also often overlooked.
Your mortgage advisor can advise you on such positive BKR registrations. For example, it may already help to temporarily turn off the ability to stay in the red.
People also often don't realize that a negative registration - after a past payment default - remains for up to five years after the loan has been fully repaid.
So avoid unpleasant surprises. Step 1, then, is to gain insight into your BKR registrations.
Any loan or credit of €250 or more is registered with the BKR. This is because lenders are required to report such loans to BKR.
It also includes the possibility of being in the red, a lease contract or a phone subscription with a free device worth at least €250.
Are you unsure if you have (had) registered loans? Read more about when you get a BKR registration.
To be completely sure, it is important to request an overview of your BKR registrations. Fortunately, the BKR website allows you to request free access to your registrations. You will then be shown an overview of all registrations in your name and any codes that apply to them.
Read how to easily request a BKR statement here.
As we have seen, the first thing that matters for the chances of getting a mortgage is whether there are positive or negative registrations. Below we briefly summarize it again.
A positive BKR registration - when the loan has not yet been repaid in full - will affect the amount of mortgage you can get.
Has the loan been repaid and is it a positive BKR registration with an end date? Then this will normally not affect your mortgage application.
Removing a positive BKR registration is therefore out of the question. An active registration is not possible, while a closed positive registration has no adverse effect.
Applying for a mortgage with negative BKR registration becomes more difficult because the mortgage lender can see that you have had payment problems in the past. Is the arrears still active (identified by an A code)? Then there is no chance of getting a mortgage.
Once the arrears have been paid (identified by an H-coding), your chances of getting a mortgage depend primarily on the severity of the arrears. The coding gives an indication of this. Especially with a negative BKR registration for which the full loan amount has since been paid off, removal of the registration may offer opportunities.
As we have seen, even within negative BKR registrations, one code is not the other. Therefore, to better understand your ability to take out a mortgage with BKR registration, it is important to understand the different codes you may encounter.
Such a coding is an addition to the registration, which gives more information about the status of the arrears.
For example, an "A" indicates that there is (has been) a backlog. Has that backlog since been cleared? Then this is reflected by an "H" code, or a recovery report.
Your chances of getting a mortgage depend largely on the exact coding. In the second part of this guide, we went into detail about what the different codes mean for your chances of getting a mortgage with BKR registration.
Once you have a clear understanding of where you stand, the next step is to identify your options. Again, for this we refer you back to part two of this guide.
There you can read, for example, that for a mortgage with BKR A3 coding, it is important that you have sufficient equity to meet the remaining debt.
Of course we are happy to help you clarify your opportunities and options. Schedule a free, no-obligation intake interview with one of our specialists.
In the counseling interview, together with a specialist from Dynamiet Nederland, you will map out your options. It may turn out that after the removal of the negative BKR registration, buying a house becomes more likely.
Then our underwriters assess the likelihood of success in getting your BKR registration removed.
Do they consider the chances of success realistic? Then you will receive an offer from us to initiate the removal request. Even if we deem the chances of success to be low, we will always communicate this honestly to you in order to create a realistic picture of your chances of success.
If you accept the offer, you will be assigned a personal lawyer who will initiate the BKR registration removal request on your behalf. Of course, we will keep you informed of developments along the way.
A BKR removal and there is urgency for the removal in view of a mortgage with dissolving factors? Then in most cases the lawyer can initiate an emergency procedure. Afterwards, you will receive a report from us with the outcome of the process.
In many cases, after engaging Dynamite Netherlands for removal of your BKR registration, you will be able to take out a mortgage or loan again. So don't hesitate and get insight and peace of mind today, with our free, no-obligation intake consultation.
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