Real estate financing

Professional mediation in real estate financing

Mortgage for your houseboat to realise living on the water

Living on a houseboat has an idyllic character and is very popular. After all, water has a calming effect on many people. Houseboats in the built-up area are cosy and free at the same time. Houseboats outside the city offer a picturesque and wide view. Just as with a house on land, buying a houseboat is a big expense. You usually need a mortgage for this. Finding a bank to provide you with a houseboat mortgage, however, is not that easy. Simply comparing the mortgage interest rates and then choosing the best bank to do so does not work for a houseboat mortgage. The houseboat or water villa mortgage can be taken out with only one bank. We at Trifium will gladly inform you about the possibilities.

Conditions for the houseboat mortgage

With a mortgage for your houseboat, you can finance both the boat and the berth. In order to be eligible for a houseboat mortgage, the boat and berth must meet a number of conditions:

  • The houseboat is well maintained and is suitable as a permanent residence. The boat must also be marketable, in case you want to move again;
  • The houseboat must be entered in the shipping register of the Land Registry Office. You record the houseboat as your property. The boat will then be branded;
  • The houseboat is appraised so you can give a valuation report to the bank;
  • It must be a legal berth that is your property or for which you have a permit from a government;
  • In some cases, you have to pay for part of the houseboat with your own funds.

Houseboat mortgage rules

Beyond that, the rules for a houseboat mortgage more or less the same as for a regular mortgage. However, the mortgage interest rate is slightly higher. Furthermore, the maximum houseboat mortgage you may take out from 2020 - just as with regular mortgages - is one hundred percent of the sale value. With a houseboat mortgage you can choose between a linear mortgage or an annuity mortgage. You may make use of the mortgage interest deduction in box 1, provided that you occupy the houseboat yourself.

Alternative to a houseboat mortgage

A mortgage for houseboats can be a problem in some cases. If you do not comply with the above conditions, you cannot take out a houseboat mortgage. The alternative to a houseboat mortgage is that you finance your boat with a personal loan. This is a loan from the bank with a fixed term and a fixed monthly repayment. However, this interest rate is higher than the mortgage interest rate. In principle, the interest on this loan is also deductible as mortgage interest as long as the houseboat has a fixed berth.

Would you like to live in a houseboat and would you like to apply for a mortgage for a houseboat? Call us at 020 - 67 22 109 for more information or make an appointment for a free introductory meeting with one of our advisors.

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