Yes, you can refinance an expat mortgage in the Netherlands under exactly the same rules that apply to Dutch homeowners, whether your original mortgage came from an international bank or a Dutch one. Refinancing, known here as “oversluiten,” means paying off your current mortgage and taking out a new one, usually to get a lower interest rate. For many expats it becomes worth looking into once the fixed-rate period is nearly over, or once the gap between your current rate and today’s market rate gets wide. Nationality has no bearing on the loan-to-value limit, the interest rate you’re offered, or how the application is assessed.
You feel this the moment you compare your monthly payment to what a colleague or friend is paying on a newer mortgage. Refinancing usually pays off in two situations: when your fixed-rate period is ending, since no penalty applies at that point, or when the difference between your current rate and the current market rate is large enough, typically a full percentage point or more.
With 2026 rates running around 3.5 to 4.5 percent for many mortgages with NHG or a low loan-to-value, homeowners still locked into 4.5 to 5.5 percent or higher from a few years ago often find refinancing attractive. The catch is that “attractive” only holds up once you subtract the costs and the prepayment penalty (boeterente) from the savings.
An expat-specific wrinkle worth knowing: if your property has gained enough value, or your mortgage balance has dropped enough, that you now fall within the NHG limit of 470,000 euros in 2026, refinancing into an NHG-backed mortgage can unlock a noticeably lower rate. This applies to expats exactly as it does to Dutch buyers.
If your original mortgage dates from before 1 January 2013, it carries transitional interest-deduction rights (overgangsrecht) that stay intact even after you refinance, so switching lenders or products does not put those rights at risk.
Before you get excited about a lower rate, look at what it takes to get there. Total refinancing costs typically land somewhere between 3,000 and 6,000 euros, depending on your situation and how much penalty interest applies.
| Cost item | Typical amount |
|---|---|
| Notary fees | Around 1,400 euros |
| Property valuation (taxatie) | Around 700 euros |
| Mortgage advice | Starting near 2,995 euros |
| Prepayment penalty (boeterente) | Varies by remaining term and rate gap |
These costs are tax-deductible in the year you pay them, but only if you pay them from your own funds. If you roll the costs into your new mortgage instead, that portion becomes a Box 3 debt in Dutch tax terms, and the interest on it is not deductible. Most lenders also let you repay 10 to 20 percent of your outstanding balance penalty-free each year, which can shrink the penalty base before you refinance.
Before committing to anything, ask your current lender for an “informatieve aflosnota.” This document states your exact prepayment penalty and gives you a real number to weigh against the savings, instead of an estimate.
Practically speaking, the biggest difference isn’t in the terms you’re offered, it’s in the paperwork. Lenders apply the same loan-to-value limits and the same interest rates to expats as to Dutch nationals; there is no expat surcharge and no worse deal simply because of your passport.
What does vary is documentation. Some lenders want proof of a longer residence history, some are comfortable with as little as one month, others expect six months or more before they’ll consider a refinance application. If your income includes allowances on top of base salary, such as a housing or relocation allowance, not every lender weighs those the same way, which is exactly the kind of detail an advisor familiar with expat files can help you sort through before you apply.
Foreign-currency income is another sticking point. Most Dutch lenders want your salary paid in euros, so if part of your income still arrives in another currency, that portion typically won’t count toward what you can borrow, refinance included.
If you’re on the 30% ruling, it’s tempting to assume it boosts what a bank will lend you. It usually doesn’t work that way. Lenders generally calculate your borrowing capacity based on your full gross salary, as if the whole amount were taxed, so the ruling mainly improves your net income rather than the maximum mortgage a lender will approve.
Some lenders go a step further and stress-test your file for the period after the ruling ends, since it only runs for up to five years. If you’re refinancing partway through that period, it’s worth asking whether the lender you’re considering does this, because it can affect how much they’re willing to offer.
In 2026 the ruling still allows 30 percent of your salary tax-free. From 1 January 2027, that maximum drops to 27 percent for anyone whose ruling first started in 2024 or later. If your ruling began before 2024, you keep the full 30 percent for whatever term remains.
One group this doesn’t apply to at all: self-employed expats running a sole proprietorship (eenmanszaak) cannot use the 30% ruling, since it’s tied to an employment relationship. If you’re a director-shareholder employed by your own BV, you may still qualify if you meet the standard conditions.
The process itself runs on a similar timeline to a new mortgage application, roughly four to six weeks from application to approval, though refinancing can sometimes move faster since the property itself doesn’t need to change hands.
| Document | Why it’s needed |
|---|---|
| Employment contract and employer statement | Confirms income stability |
| Recent payslips | Verifies current salary |
| Proof of residence permit | Confirms legal residence status |
| Informatieve aflosnota from current lender | States exact prepayment penalty |
Skipping the preparation step is where refinancing goes wrong. If you apply before checking your exact boeterente, you can end up locking in a new rate where the penalty eats up two to three years of interest savings before you break even. And if you switch to a lender with a longer minimum residence requirement than your current one, you may find your file delayed by several weeks while you gather extra proof, pushing back the moment your lower rate actually starts saving you money.
Getting this right from the start is largely a matter of comparing lenders properly before you commit. If you want a clear picture of what refinancing would actually cost and save in your situation, get in touch to have it calculated.
Say, you are an expat three years into a 5.5 percent fixed-rate mortgage from your original bank, and you’ve heard rates have dropped since. That’s exactly the kind of question that comes up often at de Kredieter.
The advisors look at your remaining term, your exact prepayment penalty, and how different lenders treat your specific income situation, whether that includes a 30% ruling, allowances, or income that started in another currency, before comparing offers across roughly forty lenders. You get a clear answer on whether refinancing actually saves you money once every cost is accounted for, not just a lower headline rate.
Reach out via @dekredieter, visit www.kredieter.nl, or call 020-5753320 to get your refinancing options mapped out.
This depends on the lender and your residency status after leaving. Some lenders require you to remain a Dutch resident to refinance, while others allow it if the property stays your primary or secondary residence under Dutch tax rules. Check with your current lender before assuming either way, since policies vary significantly between banks.
No, refinancing your mortgage has no effect on your 30% ruling. The ruling is tied to your employment situation and tax status, not to your mortgage or which lender holds it. You can refinance freely without putting the ruling’s remaining term or percentage at risk.
Yes, switching from a foreign lender to a Dutch one is a normal part of refinancing and works the same way as switching between two Dutch lenders. You will need a Dutch property valuation and the standard documentation, and your foreign lender will require full repayment before releasing the mortgage.
There is no fixed minimum period before you can refinance, but doing it too early rarely makes financial sense once you add up the costs and any prepayment penalty. Most homeowners only see a genuine benefit once several years have passed or their fixed-rate period is close to ending.
