As a Dutch citizen borrow money in Belgium ? You can, but of course, if you live at the border, you should not apply for a loan anywhere in East Flanders of Belgium. Not when you want to go to a small private lender.
It is sometimes stated on the internet that it is easy for a Dutch person to apply for a Belgian loan. Yet that is not entirely true. So there are some conditions that you must meet before you can qualify for a Belgian loan for Dutch people.
Conditions As a Dutch citizen borrowing money in Belgium
In Belgium there is no BKR registration, but there is a ‘ black list ‘ at the National Bank of Belgium that you better avoid. If you are blacklisted, the chance of any loan has become zero. You may still be able to take out a mini credit, but some require a guarantor. The guarantor therefore guarantees that the lender gets his money back. That is actually never advisable and certainly not when you take out a second loan. Always ensure that you can always pay back a loan. For non-payment you pay a lot more interest and this after only 7 days. The interest rates start from 10% interest.
Banks can often require you to work and/or live in Belgium, for example. You may still be a taxable person in the Netherlands. In this way, banks get more guarantee that they will get back the loaned amount since the Belgian rules apply to wage management. For example, if you have debts, you can end up under payroll management and a monthly amount is automatically deducted from your wages until you have repaid the loan. If lenders are difficult, you can always offer a guarantor, but as mentioned above, that is not really advisable.
We are actually achieving the opposite here
Borrowing money in Belgium as a Dutch citizen is also possible if you live close to the Belgian border. We are actually achieving the opposite here. You live in Belgium but you still want to take out a Dutch loan. We call this type of loan a cross- border loan.
As a Dutchman you probably also find it more pleasant to work through a Dutch society. A border credit is only possible if you live within 50 km of the Dutch border and you have a Dutch employer. You must have a net wage of at least 1400 euros and be older than 21 and younger than 69. Please note that you must also not have a negative BKR listing. Self-employed entrepreneurs are therefore not eligible. Still interested in a cross-border credit?
If a Dutch person takes out a mortgage in Belgium?
That is also possible. For example, you have found your dream house. Not in the Netherlands but in Belgium. Nevertheless, you decide to continue working in the Netherlands and you remain taxable in the Netherlands. Then you can borrow up to 125% of the purchase amount. But your net income must be high enough. Based on this, your maximum allowable amount that you can borrow is calculated. Of course you may also not be blacklisted or have a negative BKR.
Since you are taxable in the Netherlands, you are also entitled to all discounts and benefits that apply in the Netherlands. You can, therefore, deduct your mortgage interest and enter it in your tax return. In addition, paying your taxes in the Netherlands is cheaper than in Belgium.