January 2024

Home Mortgage Conditions

Consisting of:
Conditions governing ABN AMRO Mortgage Types - Home Mortgage,
1 October 2023
General Mortgage Conditions, 1 February 2015
General Conditions of ABN AMRO Bank N.V., March 2017
Contents Home Mortgage Conditions

Conditions governing 5.8 What is a fixed-rate period?

ABN AMRO Mortgage Types - Budget Mortgage 5.9 When does the fixed-rate period start?

1. General information 6. Change in interest rate

1.1 What does a mortgage consist of? 6.1 Can my interest rate change before I sign the
1.2 What does the mortgage right entail? mortgage deed?
1.3 Your mortgage must be in keeping with your 6.2 When does the bank reset the interest rate for my
financial situation and your wishes loan component?
1.4 Loan components 6.3 What changes affect the fixed interest rate of my loan?
1.5 Why are examples provided in these conditions? 6.4 What should I do if I wish to change the interest rate?
1.6 How should I read these conditions? 6.5 What are the requirements for the valuation report?
1.7 Your mortgage and the Dutch Tax and Customs 6.6 May I change my interest rate if I have a loan
Administration component with an interest rate refixing period?
1.8 Home Mortgage 6.7 I have a mortgage with a National Mortgage
1.9 Private Banking Home Mortgage Guarantee. May I change the interest rate?
1.10 Extra Home Mortgage
1.11 Private Banking Extra Home Mortgage 7. End of fixed-rate period
1.12 What is considered to be a new loan? 7.1 For how long has my interest rate been fixed?
7.2 What happens when my fixed-rate period ends?
2. What rules does the bank apply when granting 7.3 May I modify the expiry date of the fixed-rate
loans? period (during an interest rate refixing period)?
7.4 Do I have to pay compensation?
3. The conditions
3.1 To what do these conditions apply? 8. Changing a loan component at the end of a fixed-
3.2 What documents contain the rules for my mortgage? rate period
3.3 Which rules prevail in the event of conflict between them? 8.1 May I change the characteristics of my loan
3.4 Can the bank change my conditions? component at the end of a fixed-rate period?
3.5 In which language do we communicate with you? 8.2 What should I do if I wish to change the fixed-rate
period or interest rate type?
4. Starting date and end of term of loan/loan component 8.3 What should I do if I wish to change the mortgage
4.1 When does the term of my loan component start? type?
4.2 When does the term of my loan start? 8.4 Are there requirements that I must fulfil if I wish to
4.3 When does my loan component end? change my loan?
4.4 When does my loan end? 8.5 What conditions apply if I change my loan component
4.5 I am unable to repay the loan at the end of the term. on the day that my fixed-rate period ends?
Am I permitted to not make the repayment? 8.6 May I also change my mortgage for which a
National Mortgage Guarantee has been issued?
5. Interest - General 8.7 Do I have to pay a compensation or costs for
5.1 What does the loan offer say about the interest? changing a loan component?
5.2 Over what period do I owe interest and when must 8.8 What interest do I owe if my loan component
I pay it? changes on the interest rate refixing date?
5.3 What determines the rate of interest I pay?
5.4 How is the amount of interest that I must pay 9. Changing a fixed-rate loan component during the
calculated? fixed-rate period
5.5 What interest rate type do I have? 9.1 Can I change my loan component during the fixed-
5.6 What is variable interest? rate period as well?
5.7 What is fixed interest? 9.2 Do I have to pay a compensation?

Page 1 of 5 Contents Home Mortgage Conditions October 2023

9.3 What conditions apply if I change a characteristic of 12.20 May my building fund account be overdrawn?
a loan component during the fixed-rate period? 12.21 Final inspection following home improvement
9.4 What interest rate will I pay if I change the interest
rate during the fixed-rate period? 13. Monthly payment
9.5 What can I do with an existing fixed-rate loan 13.1 What does my monthly payment consist of?
component during the interest rate refixing period? 13.2 Do I owe more than the monthly amount?
13.3 How do I pay the bank?
10. Changing a variable-rate loan component 13.4 What happens if I do not make my monthly
10.1 May I change a variable-rate loan component? payment or do not do so in time?
10.2 What are the consequences if I change the 13.5 What happens if I do not pay the premium for my
variable-rate loan component? insurance or the amount for my bank savings
10.3 What interest rate will I pay if I change the variable account or investment account?
interest rate to a fixed interest rate? 13.6 How should I give notice of a change in my bank
account number?
11. Bridging loan
11.1 What is a bridging loan? 14. Repayment (redemption)
11.2 What is the term of a bridging loan? 14.1 When must I have repaid my loan in full?
11.3 What interest rate do I pay for a bridging loan? 14.2 Can I also repay my loan (or part of it) early?
11.4 May I change my bridging loan? 14.3 What amount of my loan can I repay without being
11.5 When must my bridging loan be repaid in full? charged a compensation?
11.6 I am unable to repay the bridging loan at the end of 14.4 Do I owe a compensation if I repay my loan (or part
the term. Am I permitted to not make the repayment? of the loan) early?
14.5 When can I repay my loan (or part of the loan)
12. Building fund account without being charged a compensation?
12.1 What is a building fund account? 14.6 How is the compensation calculated if I repay my loan?
12.2 What should I do if I want a building fund account? 14.7 What happens to my monthly amount after I have
12.3 When should I make use of a building fund account? repaid part of my loan?
12.4 What is paid from the building fund account? 14.8 What should I do if I wish to repay the loan in full?
12.5 May I have a building fund account if I have a loan 14.9 Will my mortgage be assigned to a different tariff
with a National Mortgage Guarantee? class after an extra repayment?
12.6 What happens to the amount for the new build or
home improvement? 15. Portability
12.7 When is the money deposited in the building fund 15.1 What is the portable mortgage scheme?
account? 15.2 When can I make use of the portable mortgage
12.8 What is the starting date of the term of the building scheme?
fund account? 15.3 How much can be transferred under the portable
12.9 What is the term of the building fund account? mortgage scheme?
12.10 Do I pay interest on the amount in the building 15.4 Do I continue paying the same interest rate for the
fund account? part of the mortgage that I transfer?
12.11 Do I receive interest on the amount in the building 15.5 Can I continue to have the same mortgage type for
fund account? my loan?
12.12 When and how is the amount paid from the 15.6 Can I select the term of my new loan/loan
building fund account? component?
12.13 Does the bank also pay invoices for extra work? 15.7 What conditions will govern my loan?
12.14 What should I do with the invoice for the last
progress payment? 16. Increasing your loan
12.15 What happens to my building fund account if the 16.1 What requirements apply if I wish to increase my loan?
balance is less than € 7,500 during the term? 16.2 What should I do if I wish to increase my loan?
12.16 What happens if there are still funds in the building 16.3 What happens to my loan and the conditions if I
fund account after the expiry of the term (a surplus)? wish to increase my loan?
12.17 May I close the building fund account early? 16.4 Do I have to visit the civil-law notary’s office in
12.18 Do I pay extra costs for my building fund account? order to increase my loan?
12.19 How do I know how much is in my building fund account?

Page 2 of 5 Contents Home Mortgage Conditions October 2023

17. Duty to provide information, and use of products 25. Endowment Mortgage
and services 25.1 How does an Endowment Mortgage work (in brief)?
17.1 What do I need to do if my details change? 25.2 What do I pay each month?
17.2 What information may the bank request from me? 25.3 What happens if I do not pay my monthly amount
17.3 What am I expected to do during the term of the or do not do so on time?
mortgage loan? 25.4 What is the purpose of the life insurance?
17.4 Can the bank ask me to provide information at any 25.5 With whom do I take out the life insurance policy?
time during the term of the loan? 25.6 What information must the bank have about my life
17.5 What may I use the bank’s products and services for? insurance?
17.6 What can the bank use my personal data for? 25.7 What happens if I have a life insurance policy with
17.7 With which parties may we exchange personal an uncertain target capital?
data? 25.8 May I terminate (surrender) the life insurance?
25.9 Does the bank obtain a pledge?
18. Insurance or account linked to the loan 25.10 May I pledge my rights under the life insurance to
18.1 What is the purpose of my endowment insurance, another person?
bank savings account, investment account or other 25.11 What happens to the insurance policy?
account or insurance? 25.12 When must I use the capital accumulated with the
18.2 What happens if I have repaid or changed my loan? insurer to make repayment to the bank?
18.3 When is the accumulated capital paid out? 25.13 What happens if the payment under the insurance
18.4 What happens if I do not, or no longer, comply with policy is less than the amount of the loan under my
the agreements relating to my endowment Endowment Mortgage?
insurance, bank savings account, investment 25.14 Are there special requirements if my Endowment
account or other account or insurance? Mortgage comes with a National Mortgage Guarantee?
25.15 May I reduce the sum insured if I have repaid part
19. Buildings insurance of my Endowment Mortgage?
25.16 What should I do if I do not wish the death benefit
20. Change of address under my life insurance to be paid to the bank if I die?

21. Complaints procedure 26. Savings-Based Mortgage

21.1 How and where can I report complaints? 26.1 How does a Savings-Based Mortgage work (in brief)?
21.2 What if I do not agree with the response? 26.2 How is the bank savings account opened?
21.3 What can I do if I am still not satisfied with the 26.3 What tax relief is provided by the Savings-Based
outcome? Mortgage, subject to conditions?
26.4 What do I pay for each month?
22. Level-Payment Mortgage 26.5 What happens if I do not pay my monthly amount
22.1 What is a Level-Payment Mortgage (in brief)? or do not do so on time?
22.2 What do I pay each month? 26.6 What is a bank savings account?
22.3 Can the monthly amount never change? 26.7 Does the bank obtain a pledge?
26.8 What requirements are made in respect of a bank
23. Straight-Line Mortgage savings account?
23.1 What is a Straight-Line Mortgage (in brief)? 26.9 What is the rate of interest I receive on a bank
23.2 What do I pay each month? savings account?
26.10 When do I receive the interest?
24. Interest-Only Mortgage 26.11 On what account do I receive the interest?
24.1 What is an Interest-Only Mortgage (in brief)? 26.12 Is it possible to withdraw money from the bank
24.2 What do I pay each month? savings account?
24.3 When can my home be compulsorily revalued? 26.13 What happens if I wish to withdraw money from
24.4 What is the consequence of the new value of the the bank savings account before the end of the term?
home? 26.14 May ABN AMRO Hypotheken Groep B.V. withhold
24.5 Does a change in the value of my home affect the money from the balance on the bank savings account?
rate of interest I must pay? 26.15 The bank savings account and tax aspects
24.6 When must I repay this loan component? 26.16 What happens if my bank savings account no
longer meets the statutory requirements?

Page 3 of 5 Contents Home Mortgage Conditions October 2023

26.17 What requirements must the monthly contribution 27.18 Can the bank ask me questions about the value
to the bank savings account meet? and condition of the home?
26.18 How is the amount of my monthly contribution 27.19 What rules apply for maintaining my home?
determined? 27.20 What is regarded as overdue maintenance?
26.19 How does a change in the interest rate affect my 27.21 What happens in the case of overdue
monthly contribution? maintenance?
26.20 When does my monthly contribution change? 27.22 Can I change the features of my Home Equity
26.21 What should I do if I wish to deposit more money Mortgage during the term of the mortgage?
in my bank savings account? 27.23  Can I transfer my Home Equity Mortgage to the
26.22 What happens to the amount of the monthly name of another person?
contribution if I have made an additional deposit? 27.24 Can I transfer my Home Equity Mortgage to
26.23 What does continuation without tax consequences another home?
involve? 27.25 Can I repay all or part of my debt early?
26.24 What is the starting date of the term of the bank 27.26 Do I have to pay a compensation if I repay all or
savings account after the contribution from a part of my Home Equity Mortgage early?
savings-linked insurance or bank savings account? 27.27 How does the bank calculate the compensation?
26.25 When does the bank calculate the amount of my 27.28 Can I withdraw an amount again after I have
monthly contribution? repaid it?
26.26 What requirements must the contributed insurance 27.29 Can the bank request an increase of the amount
or bank savings account meet? of the registered mortgage?
26.27 When must I repay this loan component to the bank? 27.30 Does the interest on the Home Equity Mortgage
26.28 What happens to the bank savings account if I repay qualify for mortgage interest tax relief?
the loan at the end of the term of this loan component?
26.29 May I keep my bank savings account if I no longer 28. Sustainable Mortgage (Duurzaam Wonen
have a mortgage with the bank? Hypotheek)
26.30 What information does the bank or ABN AMRO 28.1 What is a Sustainable Mortgage?
Hypotheken Groep B.V. pass on to the Tax and 28.2 What are the minimum and maximum amounts
Customs Administration? for which I can take out a Sustainable Mortgage?
28.3 Can I convert my Sustainable Mortgage to a
27. Home Equity Mortgage (Overwaarde Hypotheek) different mortgage type?
27.1 What is the Home Equity Mortgage? 28.4 What interest rate type will I pay for a Sustainable
27.2 How will I receive the amount that I wish to Mortgage?
withdraw? 28.5 Can the interest rate I have to pay change before I
27.3 How long can I continue to receive a monthly have signed the mortgage deed?
withdrawal? 28.6 Does the amount of my Sustainable Mortgage
27.4 Can the bank stop my monthly withdrawal? influence the tariff class of my other loan
27.5 How much will I pay each month? components and the associated risk premium
27.6 What interest rate will I pay? percentage? 
27.7 What is my mortgage debt? 28.7 Can I change the interest rate for the Sustainable
27.8 When does my mortgage debt have to be repaid? Mortgage?
27.9 Could I be left with a residual debt after my home 28.8 Payment of funds from building fund account
has been sold? 28.9 Does my building fund account have to contain a
27.10 What is the guarantee at market value? minimum balance?
27.11 When can I use the guarantee at market value? 28.10 Surplus at the end of the term of the building fund
27.12 What conditions apply for the guarantee at market account?
value? 28.11 Will my mortgage be assigned to a different tariff
27.13 Can my heirs also use the guarantee at market value? class after an extra repayment on my Sustainable
27.14 How is the market value determined? Mortgage?
27.15 What happens if I or the bank do not agree with 28.12 Portability
the appraised market value? 28.13 Repayment from your own funds
27.16 What costs can the bank add to my mortgage debt?
27.17 Can the bank have my home valued during the 29. Payment Holiday Mortgage
term of the mortgage? 29.1 What is a Payment Holiday Mortgage?

Page 4 of 5 Contents Home Mortgage Conditions October 2023

29.2 Can I convert a Payment Holiday Mortgage to a
different mortgage type?
29.3 What type of interest rate will I pay for the
Payment Holiday Mortgage?
29.4 Does the amount of my Payment Holiday
Mortgage influence the tariff class of my other
loan components and the associated risk premium
percentage?
29.5 Can I change the interest rate for the Payment
Holiday Mortgage?
29.6 Will my mortgage be assigned to a different tariff
class after an additional repayment on my
Payment Holiday Mortgage?
29.7 Can I change the term of the Payment Holiday
Mortgage?
29.8 Portability
29.9 Early repayments on Payment Holiday Mortgage

30. Mortgage for rental property

30.1 What is a Mortgage for rental property?
30.2 What spending purposes are permitted under the
Mortgage for rental property?
30.3 To whom may I rent out the property?
30.4 Rental income must be received in a current
account held in the Netherlands
30.5 Duty to provide information under the Mortgage
for rental property
30.6 What rules apply under the Mortgage for rental
property as regards the buildings insurance?
30.7 Can I transfer my Mortgage for rental property to
another property?

General Mortgage Conditions

General Conditions of ABN AMRO Bank N.V.

Page 5 of 5 Contents Home Mortgage Conditions October 2023

List of terms and definitions
Home Mortgage Conditions

Term Definition
Annual Percentage Rate The annual percentage rate is the interest rate that you pay including any related costs and taking account of whether
(APR) the interest is paid in advance or arrears.
Bridging loan A bridging loan enables you to use the equity in your present home for the purchase of a new home. After your present
home has been sold, you repay the bridging loan to the bank. A bridging loan is granted for a limited term. This is
specified in the loan offer. You must repay the bridging loan in full at the end of this limited term, even if your home has
not yet been sold.
Building fund account A building fund account is an account into which the bank pays all or part of your loan. You use the money in this
account to pay the invoices for the construction or improvement of your home.
Buildings insurance Under a comprehensive buildings insurance policy, your home is insured against damage as a consequence of perils
such as fire, storms and burglary. This insurance is compulsory. Another name for buildings insurance is residential
premises insurance.
Cancellation The cancellation of all or part of a mortgage registration at the Land Registry after the mortgage has been repaid in full
or in part.
Capital accumulation Under certain mortgage types, you do not make any monthly repayments for your loan. Instead you save or invest
money in order to accumulate a given amount of capital. This can also be achieved by means of an insurance policy.
At the end of the loan term, you repay the loan using the capital that has been accumulated.
Cash value The cash value is the current value of an amount which someone would obtain only after a given period. If you repay
your loan before the end of the loan term the bank will not receive part of the interest which you would otherwise
have paid. This future interest is discounted to its cash value.
Claim form Using a claim form, you can withdraw money from your building fund account.
Code of Conduct for Mortgage lenders in the Netherlands have made agreements among themselves about such matters as the content
Mortgage Loans of the information material that customers receive. These agreements are set out in the Code of Conduct for Mortgage
Loans (Gedragscode Hypothecaire Financieringen).
Collateral We want to be certain that you will repay your loan. That is why we ask you to give us a right of mortgage on the collateral
for the loan. This collateral is almost always the house (and everything that belongs with it) that you are buying or already
own. The mortgage deed contains a description of the collateral.
Credit policy The credit policy sets out the bank’s own rules on offering loans.
Current interest rate The current interest rate is the interest that is currently charged for a similar new loan component. A similar new
loan component is a loan component whose characteristics most closely resemble the characteristics of your loan
component.
Fixed-rate period This is a period you select during which your interest rate remains unchanged. The interest rate may change if you
change the mortgage type of a loan component, or if the relationship between the value of your home and the amount
of the loan changes and your loan is consequently classified in a different tariff class.
Fixed interest rate A fixed interest rate means that the interest rate you pay does not change during an agreed period. This agreed period
is generally at least one year and is known as the fixed-rate period. Any interest rebates or surcharges may affect the
level of the fixed interest rate. The fixed interest rate may change, for example if the mortgage type of a loan component
changes or if the relationship between the value of your home and the loan changes and your loan is consequently
classified in a different tariff class.
Foreclosure sale If you can no longer make the payments under your loan, we first attempt to find a solution in consultation with you.
(forced sale) If this is not successful, we may ultimately have to sell your home compulsorily. This is a right under the mortgage
and is also known as a forced sale.
Foreclosure value The foreclosure value of your home is an estimate of its value in the event of a forced sale.
Guarantee at market The Home Equity Mortgage (Overwaarde Hypotheek) gives you a guarantee at market value. This guarantee gives you
value the certainty that, in certain situations, you or your surviving dependants will not be left with a residual debt if the home
is sold for a price that is lower than the amount of your mortgage debt.
Home improvement plan If you intend to use the loan for the improvement of your home, we ask you to provide us with a home improvement plan.
This sets out what alterations you plan to make and how much you need for this.

Page 1 of 3 List of terms and definitions Home Mortgage Conditions October 2023
 Home acquisition debt The home acquisition debt is the part of the loan that may qualify for mortgage interest tax relief in box 1. This is
possible only if the loan has been taken out (i) for the purchase, maintenance or improvement of an owner-occupied
home, and (ii) for the buy-out of long lease rights, building rights or a perpetual, low-rent lease. You must also meet a
number of other conditions. Please consult a tax adviser or the Tax and Customs Administration for more information
on the applicable conditions. For example, if you have used a loan component to furnish your home, you may not add
it to your home acquisition debt.
Home Ownership The Home Ownership Guarantee Fund (Stichting Waarborgfonds Eigen Woningen) guarantees the loan if you have
Guarantee Fund taken out the loan under the National Mortgage Guarantee (NHG) scheme. The terms and conditions can be found at
nhg.nl
Interest rate (fixed) See Fixed interest rate.
Interest rate (variable) See Variable interest rate.
Interest rebate You may possibly receive a rebate (temporarily or otherwise) on your interest rate. If that is the case, the loan offer will
indicate what rebate you will obtain for each loan component, what conditions apply and how long you will receive this
rebate. It is therefore possible that the interest rebate will lapse during the term of your mortgage.
Interest rate refixing If your fixed-rate period ends, the interest is reviewed. You can then choose a new fixed-rate period. This means that
the interest rate you pay may change. This is also known as interest review.
Interest rate refixing Where there is an interest rate refixing period, this means that, during the last two years of your fixed-rate period,
period you can switch to a different fixed-rate period. Certain fixed-rate periods provide for an interest rate refixing period.
Interest rate type You can choose between a fixed and a variable interest rate. These are interest rate types. You can find more
information in the conditions. Important information is provided in Chapter 5 (‘Interest’). Your adviser can tell you more.
Land Registry We always enter the mortgage on a home in the records of the Land Registry (Kadaster). These records are also
known as the ‘mortgage register’.
Loan components Your loan may consist of various parts. We refer to them as loan components.
Loan term The loan term is the period over which your loan runs. The loan term may vary from loan component to loan component.
At the end of the period, you must have repaid the loan in full.
Market value See value of your home.
Monthly amount Each month you pay an amount for your mortgage. This amount always includes interest. It may also include an amount
for the repayment to the bank (redemption), a contribution, a saving amount and/or an insurance premium. The total is
called your monthly amount. You might also be required to pay other amounts for your mortgage directly to a party
other than the bank, such as an insurer.
Mortgage A mortgage consists of the loan, the interest, the repayments and the bank’s claim on the property.
Mortgage characteristics Your mortgage may consist of various loan components. Each loan component has its own characteristics.
The characteristics of a loan component are the mortgage type, interest rate type, term and fixed-rate period that
you have agreed with the bank.
Mortgage deed You sign the mortgage deed at the office of a civil-law notary. This deed is an agreement which we enter into with you.
It includes the arrangements concerning the loan as well as the mortgage right and the collateral.
Mortgage right The bank requires collateral for the loan. This is almost always the home you buy. As a result of the mortgage, the bank
has first claim on your property.
Mortgage type The type of mortgage determines how you make the repayments.
My Mortgage My Mortgage is a secure digital environment in which you can view and modify your mortgage and your personal
information. The bank may also send you information via My Mortgage.
National Mortgage The National Mortgage Guarantee Scheme (Nationale Hypotheek Garantie / NHG) serves as extra collateral for the
Guarantee Scheme bank. You do, however, pay a fee to the party that runs the scheme. For the terms and conditions, see nhg.nl
Nominal interest rate The nominal interest is the rate of interest you pay. Unlike the annual percentage rate (APR), the nominal interest rate
does not take account of any costs or of whether the interest is paid in advance or in arrears.
Pledge The bank wishes to have the certainty that you will repay your loan. This is why it may want a pledge in addition to
a mortgage. Examples of assets you can pledge are insurance policies, (bank) savings accounts or other accounts.
This means that, if you do not pay the interest or do not repay your loan, the bank may use the insurance or the bank
or other savings account to repay your loan.
Portable mortgage The portable mortgage scheme means that (subject to certain conditions) you may transfer the basic level of the fixed
scheme interest rate from your old loan or loan component to your new loan from the bank. This applies only for the remaining
fixed-rate period of your old loan or that old loan component. You can read more about this in the conditions or ask
your adviser for an explanation.
Progress payments If you build a new home, you agree with the person who is to build your home what amounts must be paid for what
work. These payments are known as progress payments.

Page 2 of 3 List of terms and definitions Home Mortgage Conditions October 2023
 Repayment You ask the bank for a loan to buy your home. You must always repay this loan to the bank. Repayment is sometimes
also referred to as redemption.
Right of mortgage To provide certainty that you will repay the loan, you give the bank a right of mortgage on collateral (your home). The
right of mortgage means that the bank may sell your home if you fail to perform your obligations.
Tariff class The bank uses various tariff classes to determine the interest rates. Each tariff class has its own ratios of the amount of
the loan to the value of the home (the collateral). The relationship between the amount of your loan and the value of
your home determines in which tariff class your loan is classified. The higher the ratio, the more money you have
borrowed in relation to the value of your home and the greater the risk run by the bank. During the term of the loan, your
loan may be classified in a different tariff class if certain conditions are met, for example if the amount of your loan or
the appraised value of your home changes. The bank may set different interest rates for different tariff classes.
Transitional loan This is an interest only loan at a variable rate. If you are making use of the portable mortgage scheme, your old loan
will be converted into a transitional loan.
Valuation report A valuation report is a report describing the value and the state of repair and maintenance of the collateral, among other
things. Only a recognised valuer may prepare such a report. The report must also satisfy the conditions set by the bank.
Value of your home The value of the home (market value) is determined in a valuation report. This report must meet the requirements set
by the bank. The bank may also accept another document showing the value of the home. The value of the home is also
referred to as its market value. In the case of a new build property, the value of the home is equal to the purchase/
contract price, including the loss of interest during the construction period (building interest) and any extra work. The
bank may set conditions concerning the amount of the loss of interest during the construction work and concerning
the extra work.
Variable interest rate A variable interest rate means that the interest rate you pay every month can change. This means that the amount of
interest you pay might also be different every month. You will have no certainty as regards your monthly amount.
The article about variable interest contains more information about the variable interest rate, including when it can be
changed, what grounds may give rise to a change and what the consequences are for you as the client. The variable
interest rate consists of the following five variable elements:
1. The basic interest rate,
2. The surcharges relating to developments on the capital markets and the costs of capital,
3. Individual risk surcharges,
4. Ongoing costs, and
5. Profit.

Page 3 of 3 List of terms and definitions Home Mortgage Conditions October 2023
Conditions governing ABN AMRO
Mortgage Types - Home Mortgage

October 2023
Conditions governing ABN AMRO Mortgage Types
Home Mortgage

This is a translation of the original Dutch text and has been the bank can and may sell your home (the collateral).
drafted for the customer’s convenience only. No rights can Such a sale is referred to as a foreclosure sale or
be derived from this translation. forced sale of your home.
2. Your loan is repaid from the proceeds of the sale of
1. General information your home. If the proceeds are less than the amount
you have to repay to us (the outstanding amount of
1.1 What does a mortgage consist of? your loan, interest and other costs), you must repay
1. A mortgage always consists of four elements: the remaining sum to the bank in some other way.
1.  the amount you borrow from the bank (the loan); 3. The mortgage right is entered in the records of the
2. how and when you will repay the amount (which Land Registry. This register lists all mortgages on
consists of one or more loan components); homes in the Netherlands and the amount of these
3. the interest you pay on this amount, broken down mortgages.
by loan component; 4. The agreements we reach with you concerning the
4. the mortgage right on the home (the collateral) that mortgage right are set out in the mortgage deed.
you give to the bank. 
2.  The whole – in other words, all four elements together – 1.3 Your mortgage must be in keeping with your financial
are known as the mortgage. situation and your wishes
3. Where we refer in these conditions to the fourth element You must always repay your mortgage to the bank at an
(the collateral) we use the words ‘the mortgage right’. agreed point in time. There are various ways of doing
Please also read article 1.2: ‘What does the mortgage this. The manner in which repayment is made to the bank
right entail?’. determines the mortgage type. The bank has various
mortgage types for various ways of making repayment.
You can choose a mortgage type that suits your financial
Please note situation and your wishes. To advise you, your adviser
You pay interest because we lend you a sum of money. You must also must therefore know what your financial situation and
repay the loan in full to us. This means that the amount you pay to the wishes are. This is therefore something you should
bank exceeds the amount you borrow. discuss with your adviser. Please note that not every
mortgage type is suitable for you.

1.4 Loan components

Important term 1.  Your loan can be divided into various parts. These are
Where we refer to the home in these conditions we mean your known as loan components. The amount of all the
home and everything that belongs with it. This means that we take loan components together is the entire loan. The
it to include, for example, your garden, garden house, shed or characteristics of all your loan components are shown
outbuilding. Later changes or additions also form part of ‘your in the loan offer.
home’. Your home is the collateral. The collateral is described in 2. Where we refer in these conditions to your loan
the mortgage deed. component and you have two or more loan components,
we are referring to each separate loan component.
The article therefore applies to each loan component
and therefore ultimately to your entire loan. However,
1.2. What does the mortgage right entail? this is not the case if it is clear from the text of the
1. The mortgage right means, among other things, that if conditions that the article applies to a particular loan
you: component.
▶ do not pay the interest, or 3. The characteristics of a loan component are the
▶ do not repay your loan, or mortgage type, the interest rate type, the term and the
▶ fail to perform your other agreements with the bank, fixed-rate period you have agreed with the bank. Your

Page 1 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
 mortgage can therefore consist of various interest rate 2. The bank is not liable for the consequences of a
types, mortgage types, loan terms or fixed-rate periods. change in the tax legislation and regulations. Nor is
The terms of your loan components may also differ. the bank liable if it transpires that you cannot take
4. Different conditions may apply to each loan component. advantage of certain types of tax relief.
The loan offer sets out what conditions apply to each 3. You must personally ensure that your tax return is correct.
loan component. The bank is not liable for any losses that may be suffered
as a consequence of the tax return.

Please also read chapter/article: 1.8 A Home Mortgage

1.3 for an explanation of the term mortgage type You have chosen a Home Mortgage. Subject to certain
1.4 for an explanation of the term loan component conditions, you may change the characteristics of your
4. for an explanation of the term loan term Home Mortgage. This means that you may change the
5.5 for an explanation of the term interest rate type interest rate type, fixed-rate period, mortgage type or
5.8 for an explanation of the term fixed-rate period the term of your loan. You cannot, however, change your
mortgage into a Basic Mortgage.

Different rules apply for the Home Equity Mortgage

1.5 Why are examples provided in these conditions? (Overwaarde Hypotheek). If you have a Home Equity
1. The bank has tried to make the articles clearer by Mortgage, please read Chapter 27. Different rules also
including examples in these conditions. The sole apply for the Sustainable Mortgage (Duurzaam Wonen
purpose of these examples is to clarify an article. An Hypotheek) and the Payment Holiday Mortgage (Tijdelijke
example is not intended to be exhaustive and several Betaalstop Hypotheek). If you have a Sustainable Mortgage,
situations can arise in the case of each article. These please read Chapter 28. If you have a Payment Holiday
situations are not always included in the example. Mortgage, please read Chapter 29.
2. You cannot derive any rights from the examples. If, for
instance, interest rates have been mentioned, they 1.9 Private Banking Home Mortgage
are simply examples. They can differ from the actual Do you have a Private Banking Home Mortgage? If so,
situation. The examples given for each mortgage type the same conditions apply to a Private Banking Home
provide a simplified picture of the actual situation. Mortgage as to a Home Mortgage. Where reference is
made in these conditions to Home Mortgage, you should
1.6 How should I read these conditions? therefore read this as including a Private Banking Home
1.  The bank has tried to make these conditions as Mortgage. Your loan offer states whether you have a
comprehensible as possible. It has therefore drafted Private Banking Home Mortgage.
them on the basis of questions which you, as reader of
the conditions, may have. If your question is not dealt 1.10 Extra Home Mortgage
with, please contact your adviser. Do you have an Extra Home Mortgage? The same
2. Important terms are explained as much as possible. conditions apply to an Extra Home Mortgage as to a
The boxes headed ‘please read this first’ contain Home Mortgage. Where reference is made in these
information that is important for you. Please read this conditions to Home Mortgage, you should therefore read
information before you read the article. this as including an Extra Home Mortgage.
3. The boxes headed ‘please note’ contain information
that may also be important to you. 1.11 Private Banking Extra Home Mortgage
Have you chosen a Private Banking Extra Home Mortgage?
1.7 Your mortgage and the Dutch Tax and Customs The same conditions apply to a Private Banking Extra
Administration Home Mortgage as to a Home Mortgage. Where reference
1. Taking out a mortgage can affect the amount of tax is made in these conditions to a Home Mortgage, you
you pay. It is important to take account of such should therefore read this as including a Private Banking
consequences when taking out a mortgage. Changes Extra Home Mortgage. Your loan offer states whether
to the mortgage type can also have tax consequences. you have a Private Banking Extra Home Mortgage.
Please always seek expert advice about this. The
bank does not give tax advice. If you wish to receive 1.12 What is considered to be a new loan?
tax advice, you should consult a tax adviser or make In the following situations there is a new loan and your
enquiries with the Tax and Customs Administration. request must comply with the bank’s credit policy as

Page 2 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
applicable at that time: 4. Loan offer
▶ If you take out a new loan. Your loan offer sets out the specific agreements that
▶ If you take out a bridging loan. you make with the bank about the characteristics of
▶ If you take out an additional loan component to your mortgage, including the loan, interest rate and
increase your existing loan. repayments. Your loan offer specifies precisely which
In the event of other changes to your existing loan, there is documents (and which version of the documents)
no new loan although you may still have to comply with the referred to in points 1-3 of this article apply to your
bank’s credit policy or other rules in force at that time. It is also mortgage. If you sign the loan offer, you confirm that
possible that we reach new agreements with you concerning you approve all the agreements and conditions and the
your loan and that these are governed by new conditions. content of the loan offer. You will sign the loan offer
again at the office of the civil-law notary. The loan offer
2.  What rules does the bank apply when granting is then included as an annexe to the mortgage deed.
loans?
3.3 Which rules prevail in the event of conflict between
1.  The bank applies various rules. It complies with the them?
statutory rules for mortgages. In addition, a code of If the various sets of rules contain different provisions
conduct may apply to your mortgage. Please also on the same subject, they may possibly conflict with
read article 3.2: ‘What documents contain the rules one another. In such a situation, the rules are said to be
for my mortgage?’. mutually contradictory. The following order of precedence
2. The bank also imposes its own requirements for then applies to your mortgage:
the granting of loans. These rules are known as the ▶ your loan offer takes precedence over all other rules;
bank’s credit policy. ▶ the specific conditions for your mortgage type
3. If you wish to change your mortgage or wish to (chapters 22 - 30) take precedence over the conditions
increase the amount of a new loan from the bank, the for all mortgage types (chapters 1 - 21);
bank will apply the rules in force at that time when it ▶ the specific conditions of your mortgage take
assesses your request. precedence over the General Mortgage Conditions and
the General Conditions ABN AMRO Bank N.V.; and
3. The conditions ▶ the General Mortgage Conditions take precedence
over the General Conditions ABN AMRO Bank N.V.
3.1 To what do these conditions apply?
1 Chapters 1-21 apply to all mortgage types. 3.4 Can the bank change my conditions?
2. Chapters 22-30 are special chapters. These chapters apply Each loan component in your mortgage has its own
only for the mortgage type stated in the chapter heading. conditions. If you change a characteristic of a loan
Your loan offer states what mortgage type(s) you have. component, your conditions may change and you will
receive an offer based on the conditions applicable to your
3.2 What documents contain the rules for my mortgage? new situation. For instance, your conditions may change
The following documents contain the rules that apply to if your interest rate contract is changed before the end of
your mortgage: the fixed-rate period or if your mortgage type is adjusted.
1. Conditions governing ABN AMRO Mortgage Types
These conditions contain the rules that apply to your 3.5 In which language do we communicate with you?
mortgage. You receive a copy of these conditions The communication between you and us takes place in
together with your loan offer. Dutch. All documents, such as your loan offer, are also in
2. General Mortgage Conditions Dutch. If you have a document for us that is in a language
These conditions set out what rights the bank has other than Dutch, we may require a translation into Dutch.
because it has lent you a sum of money. You receive The translation must be performed by a translator or other
a copy of the General Mortgage Conditions as part of person whom we consider suitable for this purpose. The
the ABN AMRO Home Mortgage Conditions. costs of the translation are payable by you.
3. General Conditions ABN AMRO Bank N.V.
These conditions apply to all products and services
that you buy from the bank, therefore not only to your
mortgage. You receive a copy of these conditions
together with your loan offer. The conditions govern
the entire relationship between you and the bank.

Page 3 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
4. Starting date and end of term of loan/loan Please note: the starting date of your mortgage is 2 April and so you
component pay interest with effect from 2 April.

Please read this first

The term of a loan component means how long the loan component
will last. 4.3 When does my loan component end?
Your loan component ends when the term of that loan
component has passed and you have repaid that loan
component in full. The term of each loan component is
4.1 When does the term of my loan component start? specified in your loan offer. If your mortgage consists of
1. The term of your loan component starts on the first two or more loan components, the terms may vary from
day of the new month that follows the month in which loan component to loan component.
you sign the mortgage deed at the office of the civil-
law notary. 4.4 When does my loan end?
2. If you withdraw extra funds during the term of an Your entire loan ends when the term of the final component
existing mortgage registration by taking out a new has passed and you have repaid the loan in full.
loan component, the term of that loan component will
start on the first day of the new month that follows
the month in which you are first able to use the loan Please note
funds, for example because the funds are available in You must always repay the amount of your loan in full at the end of
your account or because you have access to a building the term of your final loan component.
fund account.
3. Important! Your mortgage may start before the start
of the term of your loan component. This is because
the starting date of your mortgage is the date on 4.5 I am unable to repay the loan at the end of the term.
which you sign the mortgage deed at the office of the Am I permitted to not make the repayment?
civil-law notary. As from that moment, a mortgage At the end of the term of a loan component we send you
registration on the collateral exists. one or more notices about the end of the term. You must
then repay your loan. Your adviser can discuss with you
Different rules apply for the Home Equity Mortgage what options you have for repaying your loan or possibly
(Overwaarde Hypotheek). If you have a Home Equity extending your loan component. If you fail to repay or
Mortgage, please read Chapter 27. are unable to extend your loan by the end date of the
term, the bank may demand repayment of the loan. The
4.2 When does the term of my loan start? bank can check with you whether there are other ways
If you have two or more loan components, the starting in which you can still meet your obligations, for example
date of the term of your loan is the same as the starting by changing all or part of your mortgage to a different
date of the term of your first loan component or loan mortgage type. We will assess whether this is possible
components that you receive. Please read article 4.1 on the basis of, among other things, our credit policy at
about the start date of the term of your loan component that time. If repaying the loan or finding a solution proves
and article 5.2 ‘Over what period do I owe interest and impossible, the bank may make exercise its right of
when must I pay it?’. foreclosure. This means we may arrange for your home to
be sold. You can read more about this in articles 11 and 12
of the General Mortgage Conditions.
An example
You take out a mortgage of € 200,000. You have two loan components 5. Interest - General
of € 100,000 each. On 28 March, the bank deposits a sum of € 200,000
in the account of the civil-law notary. You sign the mortgage deed 5.1 What does the loan offer say about the interest?
at your office of the civil-law notary on 2 April. In such a case, The information in the loan offer about each loan
the starting date of the term of your loan components is 1 May. component includes:
The term of your loan then also starts on 1 May. ▶ the amount that you must pay each month in interest
(and as a arepayment, if applicable);
▶ the interest rate;

Page 4 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
▶ the amount and duration of any interest rebate; the interest rate. Each tariff class has its own ratios
▶ the interest rate type (fixed or variable interest); of the amount of the loan to the value of the home
▶ the annual percentage rate (APR); (the collateral). In addition, a separate tariff class (or
▶ the fixed-rate period. separate tariff classes) may apply for mortgages with
a National Mortgage Guarantee.
3. The tariff class always applies to the entire loan, in
Important terms other words to the amount (or residual amount) of your
 The nominal interest rate is the interest rate that you pay. total loan.
 The annual percentage rate is the interest rate that you pay, 4. The bank may always adjust the tariff classes. Such
including the arrangement compensation, and taking account an adjustment will not apply to you until the next
of whether the interest is paid in advance or in arrears. interest rate refixing of a loan component. If you have
a fixed-rate period that is about to expire, your loan
may be classified in a different tariff class and you
will have to pay the interest for that tariff class. Do
Please also read article you have a variable interest rate? This interest rate
5.5 for an explanation of the term interest rate type can change every month. In that case, an adjustment
5.8 for an explanation of the term fixed-rate period of the tariff classes may mean that you will have to
pay the interest rate for the new (i.e. adjusted) tariff
class starting from the month that this adjustment
comes into effect. If you make use of the portable
5.2 Over what period do I owe interest and when must I mortgage scheme, different rules apply. See Chapter
pay it? 15 ‘Portability’.
1. You must pay interest throughout the whole term 5. Another factor that influences the rate of interest you
of each loan component. Please note: you also pay pay is the mortgage type. Each loan component can
interest from the date on which you signed the have a different mortgage type. And each mortgage
mortgage deed at the office of the civil-law notary. type can have a different interest rate.
If you withdraw extra funds during the term of an 6. The bank can always adjust the difference in interest
existing mortgage registration by taking out a new loan rates between the mortgage types. If you have a fixed-
component, you pay interest for that loan component rate mortgage, the change will not take effect
from the date on which you are able to use the loan until the next interest rate refixing of a loan component.
funds. You stop paying the interest when you have paid 7. You can find information about the current tariff classes
the bank everything you owe (the loan, interest and and interest rates at abnamro.nl/hypotheken
any costs).
2. You must pay interest each month in retrospect. Different rules apply for the Home Equity Mortgage
Please also read article 5.4: ‘How is the amount that I (Overwaarde Hypotheek). If you have a Home Equity
pay in interest calculated?’. Mortgage, please read Chapter 27. Different rules also
3. You cannot pay the interest in advance. apply for the Sustainable Mortgage (Duurzaam Wonen
Hypotheek) and the Payment Holiday Mortgage
(Tijdelijke Betaalstop Hypotheek). If you have a Sustainable
Please note Mortgage, please read Chapter 28. If you have a
In addition to the interest you must pay, you may also have to pay other Payment Holiday Mortgage, please read Chapter 29.
amounts each month, such as a contribution to your bank savings
account or an insurance premium. You may also have to repay part of 5.4 How is the amount of interest that I must pay
your loan each month. How much you pay each month depends on, calculated?
among other things, the mortgage type. 1. The amount that you must pay in interest is calculated
on the amount of your loan. If your loan consists of
several loan components, the amount that you must
pay in interest is calculated for each loan component.
5.3 What determines the rate of interest I pay? 2. The interest rate that you must pay can differ from one
1. One of the factors that influences the rate of interest loan component to the next. The amount is calculated
you pay is the relationship between the amount of for each full month on the amount of your loan
your loan and the value of your home (the collateral). component at that time. This is the amount of your
2. The bank uses various tariff classes to determine loan component as this was at the end of the previous

Page 5 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
 month. For the purposes of calculating interest, a month 1. The basic interest rate
is taken to have 30 days and a year to have 360 days. 2. The surcharges relating to developments on the
3. The amounts of interest for the loan components are capital markets and the costs of capital
then added up. 3. Individual risk surcharges
4. The first time that you are required to pay interest, 4. Ongoing costs
the interest is calculated over the actual number of 5. Profit.
days from the date that you sign the mortgage deed
at the civil-law notary until the end of the first month. These elements are all variable. This means that they
If you wish to take out extra money by adding a new may change each month independently of each other.
loan component to an existing mortgage, the interest It can also happen that several elements change
for the new loan component is calculated from the simultaneously. For more information about these
date on which you can use the amount of that loan elements, please visit abnamro.nl
component until the end of the first month. 3. The bank sets the variable interest rate. The elements
of this interest rate are variable and do not always
5.5 What interest rate type do I have? follow other interest rates in the mortgage market (or
Your interest can be fixed or variable. This is known wider market), the interest rates used by other lenders
as the interest rate type. You select the interest rate or other interest rates you have agreed with us, for
type when you take out your mortgage. Your loan offer example in connection with other products. This means
specifies the interest rate type you have chosen and that when the variable interest rate on another type of loan
the loan component to which that interest rate type or a reference rate (such as Euribor) falls, your interest
applies. The bank may always alter the conditions of the rate might stay the same or might even rise. When the bank
interest rate types. Such an alteration applies to you at changes the variable interest rate, this new interest
the next interest rate refixing of a loan component. You rate applies from the first day of the following month.
can also assess at that time whether you want to accept 4. If one or more elements of the variable interest
the offered interest rate and interest rate type. Certain rate change, this may form a reason for the bank to
products do not permit you to select the interest rate decide to change the variable interest rate. The bank
type. will only change the variable interest rate if there are
valid reasons for this. Examples of valid reasons for
Different rules apply for the Home Equity Mortgage changing the variable interest rate include changes in:
(Overwaarde Hypotheek). If you have a Home Equity ▶ the money and capital market that result in
Mortgage, please read Chapter 27. changes to the costs incurred by the bank. This
can, for example, happen as a result of changes in
legislation and regulations.
Please note ▶ the costs incurred by the bank for the risk profile of
Your loan may consist of two or more components. Each of the certain mortgages (individual risk surcharges).
different loan components can have a different mortgage type, ▶ the ongoing costs incurred by the bank for the
interest rate type and/or fixed-rate period. Each loan component administration and management of your mortgage.
may therefore have its own interest rate type. ▶ the profit the bank makes.

We will notify you in advance of any change in the

variable interest rate you pay.
5.6 What is variable interest? 5. If you have a variable interest rate, the monthly
1. A variable interest rate means that the interest rate amount you pay is uncertain. In exchange for this lack
you pay every month can change (rise or fall). This of certainty:
means that the amount of interest you pay might also ▶ you can make early repayments on your variable
be different every month. You will have no certainty rate loan component each month, without being
as regards your monthly amount. Once you have required to pay compensation;
taken out your mortgage, you can always find ▶ you can convert your variable rate loan component
your current interest rate in MijnHypotheek or on to a fixed-rate component each month, based on a
abnamro.nl (for current mortgage products). fixed interest rate applicable at that time.
2. The variable interest rate consists of the following
five variable elements: See also Chapters 10 and 14.

Page 6 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
 Early repayment or converting your variable interest 5.7 What is fixed interest?
rate to a fixed interest rate is possible if, for example, 1. A fixed interest rate is a rate that does not generally
you no longer feel comfortable with your monthly change during an agreed fixed-rate period. Please also
amount – or the lack of certainty regarding your read article 5.8: ‘What is a fixed-rate period?’.
monthly amount – following a change in your variable 2. The fixed interest rate may change during the fixed-
interest rate. Please visit abnamro.nl for more rate period. This may for instance happen when:
information or discuss the possibilities with your ▶ you change the mortgage type of a loan
adviser. component (please also read Chapter 9 ‘Changing
a fixed-rate loan component during the fixed-rate
It is therefore important that you follow trends in period’), or
interest rates. You can do this on abnamro.nl. You will ▶ the relationship between the value of your home
then be able to determine whether repayment or and the loan changes, and as a result, your loan
conversion is right for you. If necessary, seek advice comes in a different tariff class.
from an adviser. Please also read article 6.3 ‘What changes affect the
6. If the variable interest rate rises, this can have negative fixed interest rate of my loan?’.
consequences on your financial position. The possible 3. You can find the fixed-rate periods we are offering at
risks include the following: abnamro.nl/hypotheken
▶ Your monthly amount rises while your income does
not increase, or does not increase sufficiently to Different rules apply for the Home Equity Mortgage
cover the rise in your monthly amount. You might (Overwaarde Hypotheek). If you have a Home Equity
have problems making payments as a result. Mortgage, please read Chapter 27. Different rules also
▶ If you fail to pay your monthly amount, the bank apply for the Sustainable Mortgage (Duurzaam Wonen
may demand repayment of the loan and could Hypotheek) and the Payment Holiday Mortgage (Tijdelijke
possibly sell your home. Betaalstop Hypotheek). If you have a Sustainable
▶ It is also possible that your failure to pay will be Mortgage, please read Chapter 28. If you have a Payment
registered by the Dutch National Credit Register Holiday Mortgage, please read Chapter 29.
(Bureau Krediet Registratie, or BKR). This may have
consequence for you if, for example, you take out 5.8 What is a fixed-rate period?
new loans in the future. 1.  A fixed-rate period is a period in which your interest rate
generally (see below at 2) remains unchanged. The length
It is important that you know the risks and that you assess of this period is something you agree with the bank.
whether you are able and willing to run the risks before The fixed-rate period agreed with the bank is specified
you choose between a variable or fixed interest rate. It is in your loan offer.
also vital that you keep an eye on changes in your variable 2. Please read article 5.7, point 2, for possible circumstances
interest rate and what this means for your monthly in which the fixed interest rate does change during the
amount. Please contact us if you expect to have problems fixed-rate period.
making payments.

An example Please note

Variable Interest Total Gross Your loan may consist of two or more components. Each of the
interest rate rate principal interest per different loan components can have a different mortgage type,
month
interest rate type, term and/or fixed-rate period. Each loan
Start 5.00% € 100,000 € 416.67
component may therefore have its own fixed-rate period.
Scenario Movement in New Total Gross
interest rates interest principal interest per
rate month
+ 1.0% 6.00% € 100,000 € 500.00
Interest + 2.0% 7.00% € 100,000 € 583.33
rates rise 5.9 When does the fixed-rate period start?
+ 3.0% 8.00% € 100,000 € 666.67 A fixed-rate period starts on the first day of the month. In the case
- 1.0% 4.00% € 100,000 € 333.33 of a new loan component that is the first day of the month over
Interest
- 2.0% 3.00% € 100,000 € 250.00 which you must pay interest for the first time. In the case
rates fall
- 3.0% 2.00% € 100,000 € 166.67 of an existing loan component a new fixed-rate period starts
on the date on which the previous fixed-rate period ended.

Page 7 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
 An example Please also read article
Your mortgage with a 10-year fixed-rate period runs from 12 February 1.3 for an explanation of the term mortgage type
2020. Your fixed-rate period starts on 1 February 2020 and ends on 1.4 for an explanation of the term loan component
31 January 2030. The new fixed-rate period starts on 1 February 2030. 5.3 for an explanation of the term tariff class
5.5 for an explanation of the term interest rate type
5.8 for an explanation of the term fixed-rate period
8.5 for an explanation about changing your conditions
Please note 9.3 for an explanation about changing your conditions
When your fixed-rate period is about to end, the bank sends you an offer
containing several new fixed-interest periods and the related interest
rates. If the remaining term of your loan component is shorter than the
fixed-interest periods offered by the bank at that time, once your fixed- Before signing the mortgage deed
rate period has ended you will pay the interest rate associated with a
fixed-rate period of one year for the remainder of the term. 6.1 Can my interest rate change before I sign the
mortgage deed?

1. In the case of variable interest

6. Change in interest rate The variable interest rate is set on the first day of each
month by the bank.

Please read this first The interest rate you must pay may therefore be lower
Articles 6.3.4-6.5 do not apply to loan components with a National or higher than the interest rate stated in your loan
Mortgage Guarantee as regards different tariff classes. If you have offer. After you have signed the mortgage deed in
a mortgage with such a guarantee, please read articles 6.1, 6.2, the presence of your civil-law notary, you will receive
6.3.1-6.3.3, 6.6 and 6.7. confirmation of:
▶ the interest rate, and
Different rules apply for the Home Equity Mortgage (Overwaarde ▶ the amount of interest you have to pay for the first
Hypotheek). If you have a Home Equity Mortgage, please read month. The bank will notify you of all subsequent
Chapter 27. Different rules also apply for the Sustainable Mortgage changes in the variable interest rate.
(Duurzaam Wonen Hypotheek) and the Payment Holiday Mortgage For more information about the variable interest, read
(Tijdelijke Betaalstop Hypotheek). If you have a Sustainable also article 5.6.
Mortgage, please read Chapter 28. If you have a Payment Holiday 2. In the case of fixed interest
Mortgage, please read Chapter 29. The level of the fixed interest rate is stated in your loan
offer. This interest rate applies to the first fixed-rate
period only. The interest rate that you must pay for a
loan component may be lower than the interest rate
Important terms stated in your loan offer. This is only the case if, on the
The value of your home is important in determining the rate of day that you sign the mortgage deed at the office of
interest you pay. In certain situations, the interest rate you pay is the civil-law notary, the interest rate for a new entirely
compared with the interest rate for new identical loan components. identical loan component is lower than the interest
An identical loan component is a loan component that has the same: rate in your loan offer. In this case, you pay this lower
 interest rate type, interest rate for this loan component during the first
 fixed-rate period, fixed-rate period. The interest rate for the first fixed-
 tariff class, and rate period cannot be higher than the interest rate
 mortgage type stated in your loan offer. After signing the mortgage
as the loan component that you have. deed at the office of the civil-law notary, a letter is sent
The comparison is then made between the interest which you now to your home address, confirming:
pay and the interest which you would have to pay if you were to take ▶ the level of the interest rate; and
out your present loan component at the time of the change. If the ▶ the amount of interest that you are required to pay.
bank no longer offers your mortgage type, fixed-rate period, tariff
class or interest rate type, it will apply the interest rate of a loan Different rules apply for the Home Equity Mortgage
component that most closely resembles your present loan component. (Overwaarde Hypotheek). If you have a Home Equity
Mortgage, please read Chapter 27. Different rules also

Page 8 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
apply for the Sustainable Mortgage (Duurzaam Wonen a loan component may be lower than the interest rate in this
Hypotheek) and the Payment Holiday Mortgage (Tijdelijke offer. This is only the case if, on the day that your old
Betaalstop Hypotheek). If you have a Sustainable fixed-rate period expires, the interest rate for a new
Mortgage, please read Chapter 28. entirely identicalloan component is lower than the interest
If you have a Payment Holiday Mortgage, please read rate in your offer. If the interest rate has fallen, you will
Chapter 29. Different rules apply if you make use of receive confirmation of this. The interest rate for the fixed-rate
the portable mortage scheme. Please read Chapter 15 period cannot be higher than the interest rate stated in your
‘Portability’. offer. Please also read Chapter 7: ‘End of fixed-rate period’.

Different rules apply for the Home Equity Mortgage

An example (Overwaarde Hypotheek). If you have a Home Equity
You have received a loan offer for a mortgage containing a loan Mortgage, please read Chapter 27. Different rules also
component with a fixed interest rate. Your loan offer states an apply for the Sustainable Mortgage (Duurzaam Wonen
interest rate of 5.7% for this loan component. You signed this loan Hypotheek) and the Payment Holiday Mortgage (Tijdelijke
offer on 1 May. You sign the mortgage deed on 15 July. If you had Betaalstop Hypotheek). If you have a Sustainable
applied for a loan offer for that loan component on that date, your Mortgage, please read Chapter 28. If you have a Payment
interest rate would have been 5.6%. For this reason, you pay an Holiday Mortgage, please read Chapter 29.
interest rate of 5.6% from the effective date of the term of your loan
component. This interest rate applies to the first fixed-rate period. 6.3 What changes affect the fixed interest rate of my loan?
1. If the mortgage type of a loan component changes,
this may affect the interest you pay. This can also
happen during the fixed-rate period. You will then pay
After signing the mortgage deed the interest rate that applied to the new mortgage
type at the time your current fixed interest rate for the
6.2 When does the bank reset the interest rate for my loan relevant loan component was set. Read also Chapter
component? 9 ‘Changing a fixed-rate loan component during the
fixed-rate period’.
1. In the case of variable interest 2. Do you have a mortgage with a National Mortgage
The bank sets the level of the variable interest on the Guarantee (NHG)? If, at any time, the National
first day of each month. If the interest rate changes, Mortgage Guarantee no longer applies to your loan (or
the bank informs you of this in advance and also specific loan components) for any reason whatsoever,
indicates which elements of the interest rate have the bank may also change your interest rate (this
been changed. The new interest rate applies from the includes during the fixed-rate period). The bank will
start of the month following the month in which the then change your mortgage into a mortgage without a
bank sent the notice informing you of this. You pay at National Mortgage Guarantee. The amount of interest
the end of each month. will also change. You will then pay the interest rate that
applied to a mortgage without an National Mortgage
Guarantee at the time your current fixed interest
An example rate was set for the relevant loan component or
On 14 April, you receive a notice informing you of the new interest components.
rate. This means that for the month of May you have to pay the 3. You may have received an interest rebate. If so, this is
interest corresponding to this new interest rate. stated in your loan offer. If your interest rebate lapses,
your interest rate will change. Your interest rebate will
lapse if you no longer satisfy the requirements for the
interest rebate or if it has been agreed with you that
2. In the case of fixed interest you are to receive the interest rebate for a fixed period
You must choose a new fixed-rate period after the previous only. Once the interest rebate lapses, you will pay
one ends. The bank sends you a notice containing an offer interest without the interest rebate. You will receive
of a new interest rate before the end of the fixed-rate confirmation of your new interest rate.
period. In doing so the bank observes the statutory 4. If the relationship between the amount of your loan
period for sending such a notice. That new interest rate and the value of your home (the collateral) changes,
applies from the first day after the fixed-rate period has your loan may be classified in another tariff class. This
expired. The interest rate that you are required to pay for may affect the interest you pay. It is possible that this

Page 9 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
 may happen during the fixed-rate period. In that case, the relationship between the loan and the value of
you will pay the interest rate that applied to that other your home may change, and consequently the tariff
tariff class at the time your current fixed interest rate class for your entire loan may change. If the increase
was set for your loan or loan components. If you make results in your loan being classified in a higher tariff,
use of the portable mortgage scheme, different rules a higher interest rate might apply to the entire loan.
apply. See Chapter 15 ‘Portability’.

An example Please note

If the amount of your loan is increased, you may have to pay a higher
Tariff NHG 65% or More More More
than 85% than interest rate. This is because your loan comes in a different tariff class.
classes less of than 65%
applying the up to and up to and 90% of This applies to the entire loan, i.e. to all loan components and the
at the value of including including the relevant interest rates.
time the your 85% of 90% of value
conditions home the value the value of your
are drawn of your of your home
up home home
For the original loan components you had before the
Interest 4.01% 3.99% 4.16% 4.31% 4.41% increase, you must pay the higher interest rate that would
rate have applied for the higher tariff class at the moment your
(example)
interest rate was determined for your current fixed-rate
period. A new loan component is taken out for the amount
You buy a home. The value of this home is € 200,000. You borrow of the increase. The interest rate applicable at the moment
€ 200,000. This is 100% of the value of the home. You pay the for identical loan components applies to that new loan
interest rate that applies to loans of more than 90% of the value of component. The bank automatically adjusts the interest
your home. In this example, this rate is 4.41%. Suppose that you rate of your existing and new loan components.
borrow € 160,000 rather than € 200,000. That is 80% of the value of
your home. In this case you would pay interest of 4.16%. An example

Tariff NHG 65% or More More More

classes less of than 65% than 85% than
applying the up to and up to and 90% of
The relationship between the amount of your loan and at the value of including including the
the value of your home may change, for example as a time the your 85% of 90% of value
result of the following: conditions home the value the value of your
are drawn of your of your home
up home home
a. Partial repayment
The relationship between the amount of your loan Interest 4.01% 3.99% 4.16% 4.31% 4.41%
and the value of your home changes if you repay part rate
of your loan to the bank before the end of the term of (example)
your loan. Please read article 6.4: ‘What should I do if
I wish to change the interest rate?’.
You buy a home in 2020. The value of the home is € 200,000. You
borrow € 160,000. That is 80% of the value of the home. You therefore
Please note pay the interest rate that applies to loans representing between 65%
Reducing the interest rate you pay for your loan component may and 85% of the value of the home. In this example, that is 4.16%. In
also affect, for example, the interest rate that you receive on the May 2023, you decide that you wish to improve your home and borrow
balance on your bank savings account. You should discuss this € 35,000 for this purpose. Your total loan then becomes € 195,000. A
with your adviser. new loan component must be taken out for the amount of € 35,000. The
value of your home has risen to € 215,000. You are therefore borrowing
over 90% of the value of your home. This means that the interest rate
payable for the amount of your old loan (€ 160,000) is the interest rate
b. Increasing your loan that you would have had to pay if you had borrowed € 195,000 in 2022.
If you wish to borrow more and the bank agrees to
this, you will receive a new loan component for the
amount of this increase. As a result of the increase,

Page 10 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
 to (extra) repayments or due to an increase of your loan.
You would then have had to pay the higher interest rate that applies to Read also article 6.4 ‘What should I do if I wish to change
loans over 90% of the value of the home. In this example, that is 4.41%. the interest rate?’.
From May 2023, you must therefore pay 4.41% for your loan of €
160,000. For the new loan component (€ 35,000), you pay the interest 6.4 What should I do if I wish to change the interest rate?
rate that is applicable at that time to new identical loan components in 1. You submit a request to the bank to assess whether
the case of loans above 85% of the value of the home. the interest rate can be changed. You can do this no
earlier than one month after signing the mortgage
deed with the civil-law notary.
2. You must produce evidence of the current value
c. The value of your home has risen of your home. The bank determines how you can
If the value of your home has risen, your loan may demonstrate the current value. The provided evidence
be classified in a different tariff class, you can ask must fulfil the requirements set by the bank at the
the bank to review the interest rate you must pay. time in question. These are shown on our website
You must then produce evidence that the relationship at abnamro.nl You can also request your adviser to
between your loan and the market value of your home provide you with the requirements.
has changed. If the value of your home has increased, 3. After the bank has received and approved the required
but your loan is not classified in a different tariff class, evidence, it will send you a notice specifying the new
your interest rate will not change. Please also read interest rate. The notice will also state the date from
article 6.4: ‘What should I do if I wish to change the which this interest rate will apply. You will pay the
interest rate?’. interest rate that would have applied for this tariff class
at the moment your interest rate was determined for your
current fixed-rate period. The new interest rate applies
An example only to future monthly amounts. You will receive notification
In 2017, you borrow € 200,000, and the value of your home is € 200,000 from us even if the interest rate is not changed.
at that time. You therefore borrow 100% of the value of your home. You
accordingly pay the interest rate that applies to loans in the tariff class
of over 85% of the value of the home. In 2020, a recent valuation report Different rules apply for the Home Equity Mortgage
shows that the value of your home has risen to € 270,000. It follows that (Overwaarde Hypotheek). If you have a Home Equity
your loan (€ 200,000) is now less than 85% of the value of your home. Mortgage, please read Chapter 27. Different rules also
This means that you now come in a lower tariff class, namely between apply for the Sustainable Mortgage (Duurzaam Wonen
65% and 85% of the value of the home. You can therefore request the Hypotheek), the Payment Holiday Mortgage (Tijdelijke
bank for a reduction of the interest rate. The new interest rate only Betaalstop Hypotheek) and the Mortgage for rental
enters into force from the time you request this. The lower interest rate property (Hypotheek voor verhuur). If you have a Sustainable
does not have retroactive effect. Mortgage, please read Chapter 28. If you have a Payment
Holiday Mortgage, please read Chapter 29. If you have a
Mortgage for rental property, please read Chapter 30.

ABN AMRO is not under an obligation to amend your 6.5 What are the requirements for the valuation report?
interest rate The valuation report must fulfil the requirements set by
A tariff class has an interest rate that is higher than, lower the bank at the time in question. These are shown on our
than or equal to the interest rate of another tariff class. In website at abnamro.nl You can also request your adviser
addition, the bank has the right to restrict the ability to lower to provide you with the requirements for the valuation
your interest rate(s) due to an increase in the home value. report. You must personally bear the costs of the valuation
The bank may do this in any event if the rules applying for the and the preparation of the valuation report.
bank change in a way that means the bank is no longer able
to (fully) include the value of the collateral in calculating the 6.6 May I change my interest rate if I have a loan
capital buffers that it needs to hold. If the bank exercises component with an interest rate refixing period?
this right, it will inform you of this at least two months in Yes. If you have a loan component with an interest rate
advance. After these two months, you may no longer have refixing period, this means that you can change the interest
your interest rate(s) adjusted by reporting a higher home value. rate before the fixed-rate period ends. How you should do
In that situation, your interest rate(s) can still be adjusted, for this is explained in article 7.3 ‘May I modify the expiry date of
example if your loan is assigned to a different tariff class due the fixed-rate period (during an interest rate refixing period)?’.

Page 11 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
6.7 I have a mortgage with a National Mortgage longer offers this fixed-rate period, we will seek the
Guarantee. May I change the interest rate? most appropriate offered fixed-rate period.
Yes, but it is not possible for loan components with a 3. The notice you receive from the bank explains what
National Mortgage Guarantee (NHG) to be classified in a you must do if you want to change your fixed-rate
different tariff class. Articles 6.3.4 to 6.5 do not apply to period and when your bank must receive your
loan components with an NHG as regards different tariff response. If you do not reply in time, you will be
classes. Please refer to article 6.3.2 for an explanation of given the same fixed-rate period that you currently
the interest rate that you must pay if the NHG lapses. have, together with the relevant interest rate. This
interest rate is shown in the offer you received from
7. End of fixed-rate period the bank before the end of your current fixed-rate
period. If the bank no longer offers this fixed-rate
period it will offer you its next shortest fixed-rate
Please read this first period, taking into account the remaining term (end
The fixed-rate period is the period in which your interest rate date) of the relevant loan component.
generally does not change. The interest is therefore fixed during Please also read article 8: ‘Changing a loan
this period. Your interest may change during the fixed-rate period if, component at the end of a fixed-rate period’.
for example, the value of your home changes and your loan is
therefore classified in a different tariff class. More information on
the changes that affect the fixed interest rate of your loan can be Please note
found in article 6.3. Your mortgage may consist of one or more loan components.
Each loan component has its own characteristics and hence its own
Different rules apply for the Home Equity Mortgage (Overwaarde Hypo- mortgage type, interest rate type, term and/or fixed-rate period.
theek). If you have a Home Equity Mortgage, please read Chapter 27. Each loan component can therefore have a different date on which
Different rules also apply for the Sustainable Mortgage (Duurzaam Wonen the fixed-rate period ends.
Hypotheek) and the Payment Holiday Mortgage (Tijdelijke Betaalstop
Hypotheek). If you have a Sustainable Mortgage, please read Chapter 28.
If you have a Payment Holiday Mortgage, please read Chapter 29.
7.3  May I modify the expiry date of the fixed-rate period
(during an interest rate refixing period)?

7.1 For how long has my interest rate been fixed? In the case of a fixed-rate period of two years
The interest rate is generally fixed during the fixed-rate 1. You may switch to a different fixed-rate period after the
period. How long this period lasts is a matter for you to start of your interest rate refixing period. This means
agree with the bank. The fixed-rate period agreed with the that the end date of your current fixed-rate period will
bank is specified in your loan offer or in the confirmation change. This new fixed-rate period then starts on the
you receive from the bank. The fixed-rate period starts first of the following month.
on the first day of the month. Please also read article 2. If you switch to a fixed-rate period of more than two
5.9 ‘When does the fixed-rate period start?’. The fixed years, the conditions that apply for you will not change.
interest rate may nevertheless change in certain cases, You will not pay costs or a compensation for switching.
which are set out in article 6.3 ‘What changes affect the 3. If you switch to a fixed-rate period of two years or
fixed interest rate of my loan?’. Please also read article 5.7 less or to a variable interest rate, the same conditions
‘What is fixed interest?’. will then apply for that loan component as would apply
if you were to take out a new loan component at that
7.2 What happens when my fixed-rate period ends? time. You must pay the associated costs. You may also
1. The bank will send you a notice containing an offer for be required to pay a compensation. For more information,
a new fixed-rate period, including the relevant interest please read Chapter 14: ‘Repayment (redemption)’.
rates, before the end of your current fixed-rate period. 4. You may only choose fixed-rate periods which the bank
The bank always observes the statutory period for offers at the time that you wish to make the switch.
sending such a notice.
2. You do not need to do anything if you want the same In the case of a fixed-rate period of longer than two years
fixed-rate period (or most appropriate offered fixed- 1. You may switch to a different fixed-rate period during
rate period taking account of the remaining term (end the last two years of these fixed-rate periods. This
date) of the relevant loan component. If the bank no means that the expiry date of your current fixed-rate

Page 12 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
 period changes. This new fixed-rate period then starts
on the first of the following month. You may choose Please also read article
the same fixed-rate period, a different fixed-rate 1.3 for an explanation of the term mortgage type
period or a variable interest rate. You need not pay 1.4 for an explanation of the term loan component
any costs or compensation for this switch. 5.3 for an explanation of the term tariff class
2. The conditions that apply for you will not change. 5.5 for an explanation of the term interest rate type
3. You may only choose fixed-rate periods which the bank 5.8 for an explanation of the term fixed-rate period
offers at the time that you wish to make the switch.

7.4 Do I have to pay compensation?

You do not need to pay any compensation if you choose 8.1 May I change the characteristics of my loan
a new fixed-rate period or interest rate type at the end of component at the end of a fixed-rate period?
your fixed-rate period. You also do not pay any compensation 1. Yes, you may change the following characteristics:
if you change another characteristic (term or mortgage ▶ interest rate type
type) at that time. You might, however, have to pay costs ▶ mortgage type
to change your mortgage type or term, for example if you ▶ term, and
change your Interest-Only Mortgage to a Level-Payment ▶ fixed-rate period.
Mortgage. In such cases, the bank and/or your adviser The interest rate type or fixed-rate period must be possible
will inform you of these costs in advance. for your mortgage type. See the information in My
Mortgage or consult your adviser about the possibilities.
2. Please read Chapter 9 about changes during the fixed-
Please note rate period.
The switch to a different fixed-rate period may have financial
consequences. Please make sure you have obtained the proper
information and advice before you make the switch. Please note
The bank may remove certain interest rate types, fixed-rate
periods and mortgage types from its range of products.

8. Changing a loan component at the end of a

fixed-rate period
8.2 What should I do if I wish to change the fixed-rate
This chapter relates only to loan components with a period or interest rate type?
fixed-rate. If you have a loan component with a variable 1. Before your fixed-rate period ends, you will receive
rate, you should read Chapter 10: ‘Changing a variable- from the bank a notice containing an offer of new
rate loan component’. fixed-rate periods with the relevant interest rates. This
notice also explains what you need to do if you want
Different rules apply for the Home Equity Mortgage to change the fixed-rate period.
(Overwaarde Hypotheek). If you have a Home Equity 2. If you want the same fixed-rate period again (or the most
Mortgage, please read Chapter 27. Different rules also appropriate offered fixed-interest period taking account of
apply for the Sustainable Mortgage (Duurzaam Wonen the remaining term (end date) of the relevant loan
Hypotheek) and the Payment Holiday Mortgage (Tijdelijke component), you do not need to do anything. If the bank
Betaalstop Hypotheek). If you have a Sustainable Mortgage, no longer offers this fixed-rate period, we look at what
please read Chapter 28. If you have a Payment Holiday would be the most appropriate offered fixed-rate period.
Mortgage, please read Chapter 29. 3. Do you want a different fixed-rate period? The offer
contains fixed-rate periods you can choose from,
together with the relevant interest rates. It also
Important term explains how you can inform the bank of your choice
By the term loan component we mean the interest rate type and when you must do this by. If you do not respond
(variable or fixed interest rate), the fixed-rate period and the on time, you will be given the fixed-rate period you
mortgage type (the way in which you repay your mortgage loan). previously had (or the most appropriate offered fixed-
rate period) with the corresponding interest rate as
shown in the interest offer you receive from the bank
before the end of the current fixed-rate period.

Page 13 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
4. Do you want to change your interest rate type? The 8.4 Are there requirements that I must fulfil if I wish to
letter containing the bank’s offer indicates whether you change my loan?
may change your fixed interest rate to a variable 1. To change the interest rate type, term, mortgage type or
interest rate. You may change a variable monthly fixed-rate period, you must fulfil the requirements set by
interest rate to a fixed interest rate. the bank for this purpose at the time you wish to make
the change. Your adviser can tell you more about this.
2. At the end of the fixed-rate period, you may change your
An example fixed-rate into a variable rate. Please note that variable
Your fixed-rate period of five years expires on 1 May. On 1 March, you interest may not be possible with your mortgage type.
receive an offer for various fixed-rate periods, including a fixed-rate You should consult your adviser before changing your
period of five years at an interest rate of 3.5%. The notice states that interest rate type.
you must reply before 16 April. You would like a longer fixed-rate period 3. At the end of the fixed-rate period, you may only choose
and indicate this on the reply form. You return the signed form on 19 a fixed-rate period that the bank has for your mortgage
April. This is too late. The bank should have received your signed type at that time. If you wish to change your fixed-rate
form by 16 April. As a result, you are given a new fixed-rate period of period, you must fulfil the requirements that apply to
five years. This was the fixed-rate period which you already had. that period. Your adviser can tell you more about this.
4. You may change your mortgage type only if the bank
permits this.
5. If you are considering increasing your loan please read
Please note Chapter 16: ‘Increasing your loan’.
Changing your loan may have various financial consequences. Please
consult your adviser before asking the bank to change your loan. 8.5 What conditions apply if I change my loan component
on the day that my fixed-rate period ends?
1. If you only change the fixed-rate period or interest rate
type of a loan component, the conditions that apply
8.3 What should I do if I wish to change the mortgage type? to that loan component do not change. Your present
1. If you wish to change your mortgage type you must ask the conditions continue to apply. This might not be the
bank. Such a request must have been received by the case if you change a loan component with an interest
bank no later than two (2) weeks before the end of the rate refixing period. Please read article 9.5 ‘What can
fixed-rate period. I do with an existing fixed-rate loan component during
2. After your request to change the mortgage type is the interest rate refixing period?’.
received the bank examines whether it can accept 2. If you change the mortgage type or extend the
your request. There are conditions that you must fulfil term, the conditions that apply to the modified loan
in order to change your loan component. On this subject, component do change. You will receive the conditions
please read article 8.4: ‘Are there requirements that I that would apply if you were to take out your loan
must fulfil if I wish to change my loan?’ The bank may component anew at that time. These conditions apply
always refuse your request for a change of mortgage only to the loan component that you have changed.
type. If the bank allows conversion, you will receive a Your adviser can tell you more about this.
loan offer showing the new mortgage type. The bank 3. If you reduce the term of a loan component, the
may refuse to provide you with a loan offer. conditions for that loan component do not change. Your
3. If you agree with the loan offer, you must sign and present conditions for that loan component continue
return it within the specified period. Only after the to apply.
bank has received the signed loan offer from you can
the loan be changed. The loan offer indicates the date 8.6 May I also change my mortgage for which a National
on which the loan will be changed. Mortgage Guarantee has been issued?
4. If you have not indicated in time that you agree to the The consent of the Home Ownership Guarantee Fund
bank’s offer, the mortgage type will not change. If you must be obtained in order to modify loan components for
nonetheless still wish to change the mortgage type, the which a National Mortgage Guarantee (NHG) has been
provisions of article 9.1 ‘May I change my loan component issued. If you have a mortgage with an NHG, the Home
during the fixed-rate period as well?’ will apply. Ownership Guarantee Fund must also approve the change
to the characteristics of your loan component.

Page 14 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
8.7 Do I have to pay a compensation or costs for changing
a loan component? Please read this first
1. No. You do not have to pay compensation if you 1.3 for an explanation of the term mortgage type
change your loan component to a different mortgage 1.4 for an explanation of the term loan component
type, term, interest rate type or fixed-rate period on 5.3 for an explanation of the term tariff class
the date that your fixed-rate period ends (the interest 5.5 for an explanation of the term interest rate type
rate refixing date). 5.8 for an explanation of the term fixed-rate period
2. However, you may have to pay costs for changing your
mortgage type or term, for example if you convert
your Interest-Only Mortgage into a Level-Payment
Mortgage. In such cases, the bank will inform you of 9.1 May I change my loan component during the
these costs in advance. fixed-rate period as well?
1. Yes. If you do so, the bank may possibly charge you
8.8  What interest do I owe if my loan component changes a compensation. Please read article 9.2: ‘Do I have to
on the interest rate refixing date? pay a compensation?’.
1. The interest you must pay after you have changed your 2. The bank may charge you costs for changing your
loan component is shown in the loan offer for your mortgage. If it does so, the bank will inform you about
modified loan component. If you have chosen only a this.
different fixed-rate period on the interest rate refixing 3. You can request a change as of one month after signing
date you will receive a confirmation of your choice. the mortgage deed with the civil-law notary.
2. If the interest rate for new entirely identical loan
components is lower than the interest rate in your loan 9.2 Do I have to pay a compensation?
offer on the date that your loan component is changed, You do not need to pay any compensation if you change
you will receive this lower interest rate. the mortgage type or term of a loan component. You
3. If the interest rate is higher than the interest rate in your might, however, have to pay other costs for changing your
loan offer or in the bank’s interest rate refixing offer on the mortgage type or term, for example if you change your
date that your loan component is changed, you pay the Interest-Only Mortgage to a Level-Payment Mortgage.
interest rate in the loan offer or interest rate refixing offer. In such cases, the bank will inform you of these costs in
advance. If you change the interest rate type or fixed-rate
9. Changing a fixed-rate loan component during period of a loan component during the fixed-rate period,
the fixed-rate period the bank may suffer a financial disadvantage. You must
compensate the bank for this. The bank will charge this
This chapter relates only to loan components with a fixed loss in the same way as the compensation for an additional
interest rate. If you have a loan component with a variable partial repayment. Please read Chapter 14: ‘Repayment
rate and wish to change it, please read Chapter 10: (redemption)’. This chapter also explains how the bank
‘Changing a variable-rate loan component’. calculates the compensation. Article 14.8 ‘What should
I do if I wish to repay the loan in full?’ is furthermore not
Different rules apply for the Home Equity Mortgage applicable.
(Overwaarde Hypotheek). If you have a Home Equity
Mortgage, please read Chapter 27. Different rules also 9.3 What conditions apply if I change a characteristic of
apply for the Sustainable Mortgage (Duurzaam Wonen a loan component during the fixed-rate period?
Hypotheek) and the Payment Holiday Mortgage (Tijdelijke If you change one or more characteristics of a loan
Betaalstop Hypotheek). If you have a Sustainable Mortgage, component, you will receive new conditions for that loan
please read Chapter 28. If you have a Payment Holiday component. You will receive the conditions that would
Mortgage, please read Chapter 29. apply if you were to take out a loan component anew
at that time. These conditions apply only to the loan
component that you have changed. This is not the case if
you change only the term of your loan component.

Page 15 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
 the civil-law notary. You can change this interest rate into a
Please note fixed rate in My Mortgage or through your adviser.
The characteristics of a loan component are the interest rate
type (variable or fixed rate), the fixed-rate period, the term and 10.2 W
 hat are the consequences if I change the
the mortgage type (how you repay your loan). variable-rate loan component?
If one or more characteristics of a loan component are
changed (converted), this constitutes a change to your
existing mortgage. This does not affect the mortgage right
9.4 What interest rate will I pay if I change the interest you have granted to the bank. Your variable interest rate
rate during the fixed-rate period? may also change if, for example, you change the mortgage
The interest rate you have to pay on the loan component type of the loan component.
you amend can be found in My Mortgage or in the offer
you receive. The interest rate will not be adjusted if it is
lower or higher on the date that your loan component Please note
is changed. This means that you must pay the interest Changing your variable interest rate to a fixed interest rate has
rate you saw in My Mortgage of in the offer, even if the consequences for the interest you have to pay and the conditions
interest rate for new identical loan components is lower or governing the interest rate. A change might also have financial
higher on the date that your loan component is changed. and tax consequences. Please consult a financial or tax adviser.

9.5 What can I do with an existing fixed-rate loan

component during the interest rate refixing period?
If you have an existing fixed-rate loan component, you can 10.3 W
 hat interest rate will I pay if I change the variable
do the following during the interest rate refixing period: interest rate to a fixed interest rate?
▶ You may switch to a different fixed-rate period during 1. The interest rate you have to pay on the loan
the interest rate refixing period. This means that the component you amend can be found in My Mortgage
end date your current fixed-rate period with an interest or in the offer you receive.
rate refixing period will change. This new fixed-rate 2. If the interest rate for new identical loan components
period then starts on the first of the following month. is lower on the date that your variable interest rate is
You can opt for a different fixed-rate period (fixed changed to a fixed interest rate, you will pay this lower
interest rate) or for a variable interest rate. You do not interest rate.
pay any costs or compensation for switching. 3. If the interest rate on the date that your variable interest rate
▶ Your conditions may change. In that case, your is changed to a fixed interest rate is higher, you will pay
conditions will be the conditions that apply at the time the interest rate you see in My Mortgage or in your offer.
the change takes place.
▶ You can only choose from the fixed-rate periods that Please also read Chapter 5.7 for more information about
the bank offers at the time you want to switch. fixed interest.

10. Changing a variable-rate loan component 11. Bridging loan

Different rules apply for the Home Equity Mortgage 11.1 What is a bridging loan?
(Overwaarde Hypotheek). If you have a Home Equity You have bought a new home, but have not yet sold your
Mortgage, please read Chapter 27. Different rules also present home, or you have sold your home but completion has
apply for the Sustainable Mortgage (Duurzaam Wonen not yet taken place. In that case, you cannot yet use any equity
Hypotheek) and the Payment Holiday Mortgage (Tijdelijke in your present home towards the cost of your new home.
Betaalstop Hypotheek). If you have a Sustainable Mortgage, You can borrow the amount you expect to receive in equity
please read Chapter 28. If you have a Payment Holiday a by means of a bridging loan. You must repay this loan in full.
Mortgage, please read Chapter 29.
11.2 What is the term of a bridging loan?
10.1 M
 ay I change a variable-rate loan component? The bridging loan is for a given term. This is stated in the offer.
You may change your variable-rate loan component into a
fixed-rate loan component. You can do this at the end of each 11.3 W
 hat interest rate do I pay for a bridging loan?
month and without having to pay costs. You can do this as of 1. You pay a variable interest rate for a bridging loan. The
one month after signing the mortgage deed at the office of interest rate is stated in the offer.

Page 16 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
2. The bridging loan is not counted in determining the 12. Building fund account
tariff class of your loan.

11.4 May I change my bridging loan? Please read this first

No. If you have a bridging loan you cannot change it. You can obtain a building fund account when improving an existing home
or building a new home. The conditions that apply to the construction
11.5 When must my bridging loan be repaid in full? of a new home may differ from those that apply to the improvement of
Your bridging loan must be repaid to the bank in full no an existing home. The bank will inform you if this is the case.
later than the expiry date of the bridging loan. Or earlier, 1. I f an article applies only to the construction of a new home, it
if you sell your former home earlier. But the bridging loan will be headed ‘New-build’.
must always be repaid by the end of the term, even if you 2. I f an article applies only to the improvement of an existing
have not sold your former home. home, it will be headed ‘Home improvement’.
3. If the provision has no heading, it applies to both the construction
11.6 I am unable to repay the bridging loan at the end of of a new home and the improvement of an existing home.
the term. Am I permitted to not make the repayment? 4. Some articles of the conditions distinguish between loan
You receive notices from us before the end of the term of components on the basis of whether or not they have a National
your bridging loan. These state what amount you must Mortgage Guarantee. If that is the case, there will be a heading
repay to us before what date. If you fail to repay the ‘You have a loan with a National Mortgage Guarantee’ or
bridging loan on time, the bank can demand repayment of ‘You have a loan without a National Mortgage Guarantee’.
the bridging loan. This means that we may eventually sell T he loan offer will state whether you have a loan with a
your home or arrange for it to be sold. We may also check National Mortgage Guarantee.
whether there are other ways in which you can meet your 5. If the provision has no heading, it will apply to loan components
obligations, for example by converting the bridging loan regardless of whether or not they are backed by a National
into a different mortgage type. Our assessment of this Mortgage Guarantee.
possibility will be based on our credit policy and your
financial situation, among other things. Please contact the
bank as soon as possible if you think that you will not be
able to repay the bridging loan in full. For more information 12.1 What is a building fund account?
about demanding payment of a loan, please read the 1. The amount that is available for your home improvement
General Mortgage Conditions. can be deposited in a building fund account.
A building fund account is an account into which the
bank pays your loan or loan component. Using the
Please note money on this account, you can pay the invoices for
The tax treatment of a bridging loan may be different from that of other the construction or improvement of your home.
loans. Please seek expert advice about this from a tax adviser or 2. The bank determines whether it will give you a building
ask for more information from the Tax and Customs Administration. fund account. The loan must be in line with the bank’s
credit policy. In some cases, the amount intended for
the construction or improvement of your home can
only be paid into a building fund account.

Please note
The bank does not give tax advice. There are rules for your building
fund account and taxes. You should consult your tax adviser about
the tax consequences of a building fund account or ask for more
information from the Tax and Customs Administration.

Page 17 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
12.2 What should I do if I want a building fund account? 2. The amount that has been deposited in the building
fund account is pledged to the bank. If you sign the
1. New-build loan offer, you consent to this pledge. This means that
The loan offer states what documents the bank needs the bank may use the sum that has been deposited in
from you. You should submit these documents to the building fund account in order to repay the loan or
the bank in good time. Your adviser can tell you more loan component in full or in part. The bank may do this
about the rules governing a building fund account in only if you fail to perform your obligations to the bank.
the case of a new build. 3. You may not pledge to a third party the rights that you
2. Home improvement have already pledged to the bank.
The loan offer states what documents the bank needs
from you. You should submit these documents to
the bank in good time. Your adviser can tell you more Important term
about the rules governing a building fund account in Examples of things you can pledge are insurance policies and
the case of a home improvement. savings accounts. The pledge gives the bank the certainty that
you will repay the money you have borrowed. For example, if you
12.3 When should I make use of a building fund account? fail to pay the interest or to repay your loan, the bank may use
If you wish to improve your existing home or build a new the money under the insurance policy or on the savings account
home, the bank may pay the amount of the loan or loan (the rights you have pledged) to repay the loan.
component intended for the home improvement or new
build into a building fund account. The amount that will
be deposited in the building fund account is stated in the
loan offer. 12.7 W
 hen is the money deposited in the building fund
account?
12.4 What is paid from the building fund account? Once you have signed the mortgage deed at the office of
the civil-law notary, the bank deposits the agreed amount
1. New-build in your building fund account. If you do not need to visit
For a new-build home, the invoices for the construction the civil-law notary’s office, the bank will deposit the
and the land are paid to the contractor or supplier amount in the building fund account after the bank has
direct from the building fund account. received the signed loan offer from you, approved it and
2. Home improvement completed the administrative formalities.
If you have to pay the invoices from a supplier or
contractor for the home improvement, these invoices 12.8 W
 hat is the starting date of the term of the building
are paid to you from the building fund account. You fund account?
can then transfer the amount you have to pay to the The starting date of the term of the building fund account
supplier or contractor. is the date on which the bank deposits the borrowed sum
(or part of it) in the building fund account.
12.5 M
 ay I have a building fund account if I have a loan
with a National Mortgage Guarantee? 12.9 What is the term of the building fund account?
You may have a building fund account even if you have The term begins on the starting date of the term of the
a loan component with a National Mortgage Guarantee building fund account.
(NHG). For the rules imposed by the Homeownership
Guarantee Fund in respect of a building fund account, 1. New-build
please consult the Fund’s website at nhg.nl a. If you are building a new home yourself or having
These rules may differ from the rules set by the bank. one built, the term of the building fund account is
24 months.
12.6 W
 hat happens to the amount for the new build or b. The term of the building fund account for building
home improvement? a home can be extended once by 12 months. If
1. The loan component that is intended for the you wish to make use of this extension, you must
construction or improvement of your home is paid by request this from the bank. The bank may refuse
the bank into a building fund account if: your request to extend the building fund account.
a. this is required under the bank’s credit policy at c. You must submit your request via My Mortgage. You
that time, or can also send the request to the bank yourself or through
b. you have opted for this and the bank agrees to this. your adviser. All applicants must sign the request.

Page 18 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
2. Home improvement the end of the term of your building fund account will
a. The term of the building fund account is 18 months. be deducted automatically from your loan by the bank.
b. The term of the building fund account for improving This sum does not count towards the amount that you
an existing home can be extended once by 6 months. may repay (redeem) each year without having to pay
If you wish to make use of this extension, you must a compensation. Please also read Chapter 14:
request this from the bank. The bank may also refuse ‘Repayment (redemption)’.
your request to extend the building fund account. 5. The bank will set off the amount in the building fund
c. You must submit your request via My Mortgage. You account against the various loan components. It does
can also send the request to the bank yourself or through so in a given sequence. This sequence depends on
your adviser. All applicants must sign the request. your mortgage type(s).The bank may always decide to
change this sequence. Ask your adviser for information
12.10 Do I pay interest on the amount in the building fund about the sequence which the bank currently observes.
account? 6. At the end of the term of the building fund account,
1. You pay interest on the whole loan. The building fund the bank checks whether amounts have been paid
account is part of your loan. If part of the amount of from the account.
your loan is deposited in a building fund account, you
therefore pay interest on that amount. 12.12 When and how is the amount paid from the building
2. The bank will calculate the interest that you must pay fund account?
from the interest calculation starting date. Please read
more about this in article 5.2: ‘Over what period do I 1. New build
owe interest and when must I pay it?’. The level of the a. If you build a new home, you reach agreement with
interest you must pay is shown in your loan offer. the builder on what amounts have to be paid for
what work. These are known as the progress
12.11 Do I receive interest on the amount in the building payments. The progress payments are specified in
fund account? the contract of sale and purchase and the
1. You receive interest on the amount in the building fund construction contract. Depending on the progress
account. The interest that you receive is equal to the of the building work, the progress payments that
interest rate that you pay for your loan. If you have several you must make are debited by the bank from the
loan components with different interest rates, the bank building fund account. The bank determines how
will calculate the interest you are entitled to receive on the you pay the progress payments. Please also read
building fund account on the basis of the weighted average article 12.14: ‘What should I do with the invoice for
of the interest rates of the different loan components. the last progress payment?’
The bank determines how you receive this interest. b. Before the bank pays the invoices on your behalf, it
will check the submitted claim. If this check
reveals that:
An example ▶ the invoice is not correct, or
You borrow € 200,000. Your loan consists of two loan components. You ▶ the invoice is not in accordance with the
pay 5% interest on € 150,000 and 4% interest on € 50,000. The weighted construction plan or the construction contract
average of the total amount of € 200,000 is therefore 4.75%. You thus the bank will not pay the invoice. The bank will
receive 4.75% interest on the balance of the building fund account. inform you if it does not pay the invoice.
c. Make copies of any invoices you send by post. You
may keep the originals.
2. You receive interest only on the amount in the building 2. Home improvement
fund account. a. If you are making improvements to your existing
3. a. New-build home, you can pay the invoices in one of two
After 30 months, you will no longer receive interest ways. You can read how to do this in My Mortgage.
on the amount held in your building fund account b. Before the bank pays the invoice amounts to you, it will
for the construction of a home. check the submitted claim. If this check reveals that:
b. Home improvement ▶ the invoice is not correct, or
After 18 months, you will no longer receive interest ▶ the invoice is not in accordance with the
on the amount held in your building fund account construction plan or the construction contract,
for the improvement of an existing home. the bank will not pay the invoice. The bank will
4. The amount remaining in the building fund account at notify you of this.

Page 19 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
 c. The invoice amounts will be paid to you, you then inform the bank as quickly as possible. You should
pay the supplier or contractor. then arrange for the invoice (or the remainder of
d. Make copies of any invoices you send by post. You the invoice) to be paid in some other manner.
may keep the originals.
3. If you have agreed with the bank that you will pay for 12.15 What happens to my building fund account if the
part of the construction or improvement of your home balance is less than € 7,500 during the term?
yourself from your own funds, you must use your own
funds first. You may use the building fund account once 1. New-build
you have paid the agreed amount. a. You have a loan without a National Mortgage
Guarantee:
12.13 Does the bank also pay invoices for extra work? Has your home been completed and is the balance
on the building fund account € 7,500 or less? If so,
1. New-build the bank will deposit this amount into the bank
The bank will only pay on your behalf costs that have account from which your monthly payment is or
been included in your mortgage loan offer. If extra work will be debited. The bank will also close your building
has been performed which was not included in the fund account.
loan offer, the bank will not pay the relevant invoices. b. You have a loan with a National Mortgage Guarantee:
However, if the work agreed under the contract of Please read article 12.16: ‘What happens if there
sale and purchase / construction contract has been are still funds in the building fund account after the
completed and there are still funds in the building expiry of the term (a surplus)?’.
fund account, the invoices for the extra work will be 2. Home improvement
paid from this account on your behalf. These invoices a. You have a loan without a National Mortgage
must be for work that increases the value of your home. Guarantee:
2. Home improvement Is the credit balance on the building fund account
You have supplied the bank with a home improvement € 7,500 or less? If so, the bank will deposit this
plan. If the bank has assessed and accepted this plan, amount into the bank account from which your
it will pay on your behalf the invoices for the work monthly payment is debited. The bank will also
specified in the plan. Invoices for extra work (work not close your building fund account.
included in the home improvement plan) will not be paid. b. You have a loan with a National Mortgage
However, if the work under the home improvement plan Guarantee:
has been done and there are still funds in the building Please read article 12.16: ‘What happens if there
fund account, the invoices for the extra work will be are still funds in the building fund account after the
paid from this account on your behalf. These invoices expiry of the term (a surplus)?’.
must be for work that increases the value of your home.

12.14  What should I do with the invoice for the last Please note
progress payment? If the bank transfers a sum from the building fund account to your
bank account, this may have tax consequences. You should consult
1. New-build your adviser about this.
a. You must send the invoice for the last progress
payment to the bank as quickly as possible.
b. A situation may arise in which the credit balance
of the building fund account is not sufficient to Different rules apply for the Sustainable Mortgage
pay this last invoice. If that is the case, you should (Duurzaam Wonen Hypotheek) and the Payment Holiday
inform the bank as quickly as possible. You should Mortgage (Tijdelijke Betaalstop Hypotheek). If you have a
then arrange for the invoice (or the remainder of Sustainable Mortgage, please read Chapter 28. If you have
the invoice) to be paid in some other manner. a Payment Holiday Mortgage, please read Chapter 29.
2. Home improvement
a. You must send the last invoice to the bank as quickly 12.16 W
 hat happens if there are still funds in the building
as possible. fund account after the expiry of the term (a surplus)?’
b. A situation may arise in which the credit balance
of the building fund account is not sufficient to 1. You have a loan without a National Mortgage
pay this last invoice. If that is the case, you should Guarantee:

Page 20 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
 a. If there are still funds in the building fund account 3. The interest which you must pay on your loan and which
after the expiry of the term of the account, the is also therefore the interest payable on the amount in
bank will deduct the amount from your loan. This your building fund account is specified in your loan offer.
amount does not count towards the amount that
you may repay (redeem) each year without having 12.19 How do I know how much is in my building fund
to pay a compensation. Please read chapter 14: account?
‘Repayment (redemption)’. You can view the information on your building fund account
b. The bank will use the balance in the building fund in My Mortgage. You will also receive a monthly ‘Building
account to make repayments on the various loan Fund Account Statement’ during the construction period.
components. It does so in a given sequence. This This shows the balance on your building fund account,
sequence depends on the type(s) of mortgage you the interest you have received and what amounts have
have and the interest rate. The bank may always been paid from the account.
decide to change this sequence. Ask your adviser
for information about the sequence which the bank 12.20 May my building fund account be overdrawn?
currently observes. No, your building fund account may not be overdrawn.
2. You have a loan with a National Mortgage Guarantee:
a. If there are still funds in the building fund account 12.21 Final inspection following home improvement
after the expiry of the term of the account, the bank Following the home improvement, the bank may carry
will deduct the amount from your loan. It makes no out a final inspection. More detailed information is
difference how large the amount is. This amount does not provided in your loan offer.
count towards the amount that you may repay (redeem)
each year without having to pay a compensation. 13. Monthly payment
Please read chapter 14: ‘Repayment (redemption)’.
b. The bank will use the balance in the building fund
account to make repayments on the various loan Please read this first
components. It does so in a given sequence. This Article 2 ‘Loan and payments’ of the General Mortgage Conditions
sequence depends on the type(s) of mortgage you contains more conditions concerning the monthly and other interest
have and the interest rate. The bank may always payments and repayment(s). Please also read this article.
decide to change this sequence. Ask your adviser
for information about the sequence which the bank
currently observes.
13.1 What does my monthly payment consist of?
Different rules apply for the Sustainable Mortgage 1. Each month you must pay a monthly amount to the
(Duurzaam Wonen Hypotheek). If you have a Sustainable bank. Your monthly payment always includes interest.
Mortgage, please read Chapter 28. For the purposes of calculating the interest, a month is
deemed to have 30 days and a year 360 days.
12.17 May I close the building fund account early? 2. Part of your monthly amount may also be earmarked
1. You must ask the bank if you wish to close the building for the repayment of the loan (redemption) or for
fund account early. You can do this in My Mortgage saving or investing a particular amount (target capital).
or you can send your request to the bank yourself or This is also known as capital accumulation. Your loan
through your adviser. offer gives a breakdown of your monthly amount.
2. Before closing your building fund account, the bank
will pay on your behalf all invoices submitted by you.
Please also read article 12.16: ‘What happens if there Please note
are still funds in the building fund account after the Your mortgage may consist of two or more components. The monthly
expiry of the term (a surplus)?’. amounts that you pay for these loan components may differ.

12.18 Do I pay extra costs for my building fund account?

1. You pay no extra costs for your building fund account.
2. You pay interest on the amount of your loan. Your 13.2 Do I owe more than the monthly amount?
construction account is part of the loan. Please also In addition to this monthly amount you must sometimes
read article 12.10: ‘Do I pay interest on the amount in also pay for an insurance policy, a bank savings account,
the building fund account?’. an investment account or another account linked to your

Page 21 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
loan. If the bank or ABN AMRO Hypotheken Groep B.V. is you may have to pay more each month.The bank is not
not the party providing the insurance or account, you do responsible or liable for this.
not pay these amounts to the bank. You should then pay 4. If the bank has to sell your home, the proceeds of the
these amounts to the other bank concerned or to your sale are used to repay the loan, interest and any costs.
insurer, as the case may be. If the bank does provide the If the proceeds are insufficient to repay the loan in full,
insurance or account, you should pay these amounts to a debt remains. You must then repay the debt to the
the bank. These amounts are then specified in your loan bank in some other way.
offer with the total monthly amount. Whether the bank is 5. The bank is never liable for the sale of your home and
the provider is stated in your loan offer. the possible loss that you may incur in such sale if you
do not fulfil your obligations.
13.3 How do I pay the bank?
By signing a direct debit authorisation with the loan offer, 13.5 What happens if I do not pay the premium for my
you authorise the bank to debit the monthly amount insurance or the amount for my bank savings account
automatically from your bank account. As long as the loan or investment account?
has not been repaid in full, you are obliged to pay the 1. You accumulate capital in your insurance or on an account.
monthly amount to the bank. At the end of the term, you use this capital to repay
your loan. If you do not pay the premium, the insurance
Different rules apply for the Home Equity Mortgage or account may lapse. In such a situation, please contact
(Overwaarde Hypotheek). If you have a Home Equity the bank as soon as possible, as the final amount may
Mortgage, please read Chapter 27. not be sufficient to repay your loan. In that case, the
bank may call your loan. This means that the bank may
13.4 What happens if I do not make my monthly payment sell your home. This is referred to as the foreclosure
or do not do so in time? sale or forced sale of your home. For more information,
1. If you do not make your monthly payment or do not so please read the General Mortgage Conditions.
in time, the bank can charge you costs every month. 2. Before the bank sells your home, it examines whether
You must therefore contact the bank as soon as there are other ways in which you can fulfil your
possible if you expect you will not be able to make the obligations. For example, the bank may change your
monthly payment on time. If it charges costs, the bank mortgage (or part of your mortgage) to a different
will observe the statutory rules. The bank will base type. Before doing so, the bank examines whether it
these costs on the unpaid amount until you have paid can and may offer you the different mortgage type. It
this to the bank. The bank may charge these costs to determines this by reference, for example, to its credit
you immediately. A warning is not necessary for this policy. Please also read article 18.4 ‘What happens if
purpose. For the purpose of calculating these costs I do not, or no longer, comply with the agreements
a month that has already started is treated as a full relating to my endowment insurance, bank savings
month. account, investment account or other account or
2. If you do not make your monthly payment or do not do insurance?’.
so in time, the bank may also demand repayment 3. If the bank must change the mortgage type or any
of the loan. This may result in the bank having to sell other characteristic of your loan component (see 2), it
your home. On this subject, please read the General is possible that you may have to pay a compensation.
Mortgage Conditions. Before the bank sells your So please also read chapters 8, 9, 10 and 14. You must
home, it examines whether there are other ways in also pay the costs associated with changing your
which you can fulfil your obligations. For example, mortgage. It is possible that, as a result of the change,
the bank may change your mortgage (or part of your you have to pay more each month. The bank is not
mortgage) to a different type. Before doing so, the responsible or liable for this.
bank examines whether it can and may offer you the 4. If the bank has to sell your home, the proceeds of the
different mortgage type. It determines this by reference, sale are used to repay the loan (or part of it). If the
for example, to its credit policy. proceeds of sale are insufficient to repay the loan in
3. If the bank has to change the mortgage type or some full, this leaves a residual debt. You must then repay
other characteristic of your loan component (see at 1) this debt to the bank in some other way.
you may possibly have to pay a compensation and 5. If you fail to meet your obligations, the bank is never
costs.You should therefore read chapters 8, 9, 10 liable for selling your home or for any loss you may
and 14. You must also pay the costs of changing your incur as a result.
mortgage. It is possible that as a result of the change

Page 22 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
13.6 How should I give notice of a change in my bank 14.3 What amount of my loan can I repay without being
account number? charged a compensation?
You should give written notice as quickly as possible of any Each calendar year, you can repay 10% of the original
change in your bank account number. You can do this in amount of your loan component. You need not pay any
My Mortgage or by sending your new details to the bank compensation on that amount. The original amount of
yourself or through your adviser. your loan component is shown in your offer. If you have
not made any repayments or extra repayments to the
14. Repayment (redemption) bank in a calendar year, you are not entitled to carry over
this amount and repay 20% in a subsequent year without
having to pay a compensation.
Please note
Repaying the loan is the same as redeeming the loan. Partial
redemption is the same as repayment of part of the loan. Partial Please note
or full redemption may have tax consequences. You should The 10% that you can repay each calendar year without being
consult your tax adviser about this or ask for more information charged a compensation is calculated based on the (original)
from the Tax and Customs Administration. amount of a loan component and not on the entire loan. The
original amount of your loan component is shown in your offer.

Different rules apply for the Home Equity Mortgage

(Overwaarde Hypotheek). If you have a Home Equity
Mortgage, please read Chapter 27. 14.4 D
 o I owe a compensation if I repay my loan (or part
of it) early?
14.1 W
 hen must I have repaid my loan in full? If you have a loan component with a fixed interest rate,
You must have repaid your loan in full to the bank at the you pay us compensation if, at the time that you repay
latest on the expiry date of the term of the loan. Your loan all or part of the loan,
may possibly consist of various loan components. Each loan ▶ the fixed interest rate that you pay is higher than the
component may have a different term. At the end of the fixed interest rate for a new entirely identical loan
term of each loan component, you must have repaid that component (the comparison interest rate) and
loan component. Your entire loan will have been repaid once ▶ you repay more than 10% of the original amount of
you have repaid in full all loan components. Please also read your loan component per calendar year. The original
article 14.8 if you wish to repay the loan in full. amount of your loan component is stated in your loan
offer. Please also read article 14.5 ‘When can I repay my
14.2 C
 an I also repay my loan (or part of it) early? loan (or part of it) without being charged a compensation?’.
You can always repay your loan (or part of the loan)
before the end of the term. You can make a partial
repayment on your loan in My Mortgage for certain Please read this first
mortgage types. You can submit your repayment request From this article onwards, we will use a number of terms that have
by telephone or in writing for all mortgage types. You the following meanings.
may possibly have to pay a compensation. Please read
articles 14.3 to 14.6 for information about the rules. Comparison interest rate
In this chapter, comparison interest rate refers to the interest rate
used in calculating the compensation in order to compare the interest
Please note rate you now pay. The bank determines the comparison interest rate.
An extra payment into your bank savings account is also treated The bank bases this on a loan component identical to the one you now
as a repayment of your loan (or part of your loan). have. What we mean by an identical loan component is explained below.

If you repay your loan in full, it is equal to the interest rate stated in the
repayment invoice. More information about the comparison interest
Please note rate and whether it may still change, can be found in the repayment
You specify personally for what loan component you are making invoice. For an additional partial repayment it is equal to the interest
an extra repayment. If you do not do so, the bank will determine rate stated in the bank’s offer. More about the comparison interest
this for you. rate and whether it may still change can be found in the offer.

Page 23 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
 If rebates or surcharges have been factored into the interest rate If an interest rate refixing period has been agreed in the case of a
you pay, the bank will calculate the compensation using the fixed-rate period of more than two years, the interest rate refixing
interest rate inclusive of these rebates and surcharges. The period is not counted towards the residual fixed-rate period for the
comparison interest rate is also the rate inclusive of these purpose of calculating a compensation for early redemption. The
rebates and surcharges. In the comparison interest rate the same applies to calculation of the comparison interest rate. If, for
present amount of the rebates and surcharges is applicable. The example, you have concluded a fixed-rate period of 12 years, the
rebates factored into the comparison interest rate are only group last two of which are an interest rate refixing period, and you wish
rebates, not individual rebates. A group rebate is a rebate to redeem early, i.e. after eight years, the residual fixed-rate period
available to clients who have a mortgage at the bank, if they fulfil for the purpose of determining the compensation for early repayment
certain conditions. When you have to pay a compensation, the is two years. We base the comparison interest rate on two years.
interest rate is always lower than the interest rate you now pay.
The smaller the difference with your current interest rate, the
lower will be the compensation you have to pay.

Identical loan component Tariff class

An identical loan component is a loan component that has the For the purpose of the comparison interest rate, the bank applies the
same: tariff class included in your present interest rate. It is possible that
 interest rate type (fixed rate) the amount of the surcharge applicable to that tariff class has
 residual fixed-rate period changed in the interim. The comparison interest rate is always based
 tariff class; and on the current amount of the surcharge applicable to that tariff class.
 mortgage type This can differ from the amount applicable to your current interest
as your loan component. rate. Another possibility is that the tariff class concerned has ceased
to exist in the interim or that the structure of the tariff classes has
Residual fixed-rate period changed. In such a case, the bank determines in what tariff class your
The residual fixed-rate period is the period between the moment loan would fall if this tariff class had existed or the structure of the
when you wish to redeem (repay) the loan and the expiry date of tariff classes had applied at the time when the bank determined your
the fixed-rate period, unless the residual term is shorter than the current interest rate. That tariff class is applied for the purpose of the
residual fixed-rate period. In that case, the calculation is based on comparison interest rate.
the period between the moment when you wish to redeem (repay)
and the date of the expiry of your mortgage. Mortgage type
For the purposes of the comparison interest rate, the bank applies the
If the bank does not offer this fixed-rate period, it will take the loan component’s mortgage type. If the bank no longer offers your
interest rates of longer and shorter fixed-rate periods that it does mortgage type, it takes the mortgage type that most closely
offer and that are closest to your residual fixed-rate period. To resembles your mortgage type. This is a matter for the bank to decide.
determine the comparison interest rate, the bank uses the higher of
the interest rates that belong to these two fixed-rate periods. Where
the interest rate is variable, there is no case of a fixed-rate period.
For your information
You are expected to pay a compensation because, when you took
out the loan with the bank, you agreed to pay a given rate of
An example interest for a given period. If you repay part of your loan early, the
You repay a loan or loan component with a fixed-rate period of ten bank no longer receives this interest. In its calculations, however,
years (interest rate of 3.75%) after three years and four months. the bank has proceeded on the assumption that it will receive this
The residual term is therefore still six years and eight months. interest, the reason being that the bank has to purchase (borrow)
The bank does not offer a fixed-rate period of six years and eight money. If you make a repayment (or extra repayment), the bank
months. It therefore looks for the next longest and next shortest no longer receives this interest from you, but might be required
fixed-rate periods. The next longest fixed-rate period is in this case to pay interest itself. In such a case, the bank suffers a financial
seven years. The interest rate applicable to this fixed-rate period is disadvantage. This is why you are expected to pay the bank a
3.50%. The next shortest fixed-rate period is in this case six years. compensation for the interest that it does not receive.
The interest rate applicable to this fixed-rate period is 3.40%.
It follows that the interest rate used by the bank in this case as the
comparison interest rate is 3.50%.

Page 24 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
14.5 W
 hen can I repay my loan (or part of it) without being 7. Partial cancellation
charged a compensation? You need not pay any compensation if you use the full
proceeds from the sale of part of your collateral (e.g.
1. Variable interest rate the garage) or land for the repayment of your mortgage.
You can always repay all or part of variable-interest In this case, you must cancel the registration of the
rate loan components without limit and without repaid part of the mortgage at the Land Registry.
having to pay a compensation or costs. It does not We call this partial cancellation.
matter what your interest rate is or what the current 8. Sale of your home (the collateral)
daily interest rate is. You may do this if, for example, You do not owe any compensation if you repay your
you think your monthly amount has become too high loan in full because you have sold your home (the
following a change in the variable interest rate. collateral). However, you must fulfil the following
2. Date of interest rate refixing conditions in such a case:
The interest rate refixing date is the date on which ▶ you have been to the civil-law notary’s office to
the fixed-rate period of a loan component ends. If you complete the sale of your home and everything
repay all or part of your loan component on the interest that belongs with it to another party, and the notary
rate refixing date, you need not pay any compensation. has prepared a notarial deed of transfer;
3. Reaching loan component target capital ▶ you do not sell your home to your spouse or any
If the accrued capital of your accrual product (e.g. other person with whom you have jointly taken out
savings, bank savings, life insurance or investment the loan;
account) is equal to the amount of your loan ▶ you do not let your home;
component, you may repay that loan component in ▶ you no longer live in your home;
full without having to pay a compensation. ▶ you have not sold your home to a business or
4. Repayment using accrued capital partnership in which you yourself (also) participate.
If you use the accrued capital of your accrual product 9. Foreclosure sale
(e.g. savings, bank savings, life insurance or investment You do not owe a compensation if you repay your
account) to repay all or part of the loan, and the bank loan after the foreclosure sale of your home. This
will receive the accrued capital directly from the does not apply if the sale is a consequence of an act
insurer or asset manager or from your bank savings or omission for which you are liable.
account, you are not charged a compensation on this 10. The end of the term of your mortgage
part of the repayment. You do not owe a compensation if you repay your loan
or loan component at the end of the term.
11. If your home is no longer habitable
Please note You do not owe a compensation if you repay your
A payment using accrued capital can have tax consequences. loan in full within 12 months of your home becoming
Please always seek expert advice about this from a tax adviser or irreparably damaged. This means that your home is
ask for more information from the Tax and Customs Administration. no longer fit for human habitation (e.g. as a result of
fire). Whether this is the case is a matter for the bank
to decide.
12. Residual Debt Loan
5. The fixed interest rate is lower than the interest You will not incur a compensation if you repay a
rate for a new identical loan component Residual Debt Loan from your own funds, in other
If the fixed interest rate you pay for a loan component words not from borrowed funds. The bank will
is lower than the fixed interest rate for a new identical determine whether the funds qualify as your own funds
loan component, you need not pay any compensation and whether the loan component you would like to
for the repayment of the loan or part of the loan. repay in full or partially qualifies as a Residual Debt
6. Death Loan.
Your heirs do not owe any compensation if the loan is 13. Higher sales proceeds
repaid partly or in full within 12 months of your death. In certain cases the expected proceeds of the sale of
Your heirs can also change the fixed-rate period once your previous home was taken into account when your
within this period of 12 months without being charged mortgage offer was applied for. If the proceeds turn
a compensation. This also applies if any other owners out to be higher than the amount that was taken into
of your home die. account, you can use the surplus proceeds to make
an additional repayment on your mortgage without

Page 25 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
 being charged a compensation. This repayment does of the comparison interest rate. The difference between these
not count towards the amount that you can repay each two amounts is the amount that the bank does not receive.
year without being charged a compensation.
The present value calculation
Different rules apply for the Sustainable Mortgage In the case of a full or extra repayment, you repay the
(Duurzaam Wonen Hypotheek) and the Payment Holiday amount to us in a single lump sum instead of over the
Mortgage (Tijdelijke Betaalstop Hypotheek). If you have a remaining months of your fixed-rate period. For this reason,
Sustainable Mortgage, please read Chapter 28. If you have we lower the loss interest according to a standard method.
a Payment Holiday Mortgage, please read Chapter 29. This standard method is the present value calculation.
The outcome of this calculation is the amount that we
14.6 How is the compensation calculated if I repay my loan? ultimately charge you as compensation. The present value
What follows is an explanation of how the compensation is calculated using the remaining fixed-rate period and the
is calculated if you repay your loan in full or in part. comparison interest rate.
You receive an itemised statement of the compensation
for each loan component at the moment you have to pay 14.7 W
 hat happens to my monthly amount after I have
the compensation. repaid part of my loan?
1. Your monthly amount is automatically reset if you repay
The following matters are relevant to the calculation part of the loan. The term of your loan component will
of the compensation: not change. You can ask the bank to change the term of
▶ On what part of the amount to be repaid do you pay a the loan component. The bank will decide whether the
compensation? term of your loan component can be changed.
▶ How does the bank determine the interest difference? 2. As soon as the bank receives your payment, you are no longer
▶ The present value calculation liable to pay interest on the amount that you have repaid.
3. The overpaid amount is repaid to you or deducted by
On what part of the amount to be repaid do you pay a the bank from your debt to the bank.
compensation? 4. Please also read Chapter 2, ‘Loans and payments’ of
In calculating the compensation charged in the case of all the General Mortgage Conditions.
mortgage types, we take account of the amount on which
no compensation is payable per loan component. 14.8 W
 hat should I do if I wish to repay the loan in full?
1. You must submit a request to the bank for a repayment
An example statement at least 30 days before the date on which
Amount you wish to repay on 1 November 2023 € 50,000 you wish to repay the loan in full. You can do so by
Amount of your annual repayment exemption telephone or in writing.
(10% of the original principal of € 250,000) € 25,000 2. The bank prepares the repayment statement up to 14
Part of your exemption used in 2023 € 10,000 days before the date on which you wish to repay the
Your remaining exemption in 2023 € 15,000 -/- loan. The repayment statement specifies the provisional
The compensation is calculated based on € 35,000 compensation and whether this could change.
3. If you repay the loan later than the date specified by
If you have a level-payment mortgage or straight-line you, you owe interest on the period between the
mortgage, the amount of € 35,000 in the above example specified date and the actual date of repayment. If
will be lower, the reason being that the bank calculates you have repaid your loan later than you had specified,
the future course of your mortgage debt until the end of it may be necessary to prepare a new repayment
your fixed-rate period. If you have a savings-based mortgage, statement. This is a matter for the bank to decide.
the bank will include the accrued savings capital and the
agreed amounts of future savings in the amount over 14.9 W
 ill my mortgage be assigned to a different tariff
which a compensation is charged. class after an extra repayment?
See 6.3: ‘What changes affect the fixed interest rate of my loan?’.
How does the bank determine the interest difference?
To determine the interest difference, the bank makes a
calculation of the interest you would have had to pay the bank
until the end of your current fixed-rate period and on the
basis of your current interest rate. The bank also calculates
what it could have achieved in interest income on the basis

Page 26 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
15. Portability basic level of the fixed interest rate to a new loan from
the bank for your new home. You will then select a
new interest rate for the Mortgage for rental property.
Please read this first You can choose from the interest rate types and fixed-
1. Old loan (mortgage): where we refer to your old loan (old rate periods that the bank offers for the Mortgage for
mortgage), we mean the loan (mortgage) you have taken out for rental property at that time.
your present home (old collateral).You have repaid this old loan or
you will repay it. You cannot transfer more than the outstanding debt If you first buy a new home, you can indicate when
at the time of contracting your new loan to your new home. applying for your new loan that you wish to make use
2. New loan (mortgage): your new loan (new mortgage) is the loan of the portable mortgage scheme.
(mortgage) that you take out to buy your new home (new collateral).
As a result, the collateral for the old and new loans is different. If you first sell your present home, you must take out a
Certain characteristics of loan components can be transferred, new loan with the bank for your new home within six
but the collateral itself cannot. months of selling your present home. This means that
an interest rate offer must be made for your new
home. The mortgage type must be the same. For
Different rules apply for the Home Equity Mortgage example, you cannot make use of the portable
(Overwaarde Hypotheek). If you have a Home Equity mortgage scheme if your old loan was a Budget
Mortgage, please read Chapter 27. Different rules also Mortgage and your new loan is a Home Mortgage. If
apply for the Sustainable Mortgage (Duurzaam Wonen the bank no longer offers your mortgage type, it will
Hypotheek), the Payment Holiday Mortgage (Tijdelijke take the type of mortgage that most closely resembles
Betaalstop Hypotheek) and the Mortgage for rental your mortgage type. This is a matter for the bank to
property (Hypotheek voor verhuur). If you have a Sustainable decide. If you agree this mortgage type, you may
Mortgage, please read Chapter 28. If you have a Payment transfer the basic level of the fixed interest rate.
Holiday Mortgage, please read Chapter 29. If you have a 3. If your old loan is in the name of two or more debtors
Mortgage for rental property, please read Chapter 30. and you do not take out a new loan together, a debtor
may make use of the portable mortgage scheme if
15.1 W
 hat is the portable mortgage scheme? that debtor obtains written permission from the other
Under the portable mortgage scheme, you may transfer debtor or debtors.
the basic level of the fixed interest rate you have on a 4. You may make use of the portable mortgage scheme if
given component of your old loan to your new loan for the the home has been or is being sold in its entirety. For
residual term of the fixed-rate period. This chapter sets out example, you cannot make use of the portable
the conditions on which you can do so. mortgage scheme if you are moving home and one or
more existing debtors will continue to live in that
Three matters of importance to the portable mortgage home.
scheme are discussed below in this chapter: 5. At some point, you may find that you are unable to
1. the amount of the loan or loan components to be transfer the basic level of the fixed interest rate for the
transferred; total outstanding amount of your old loan to your new
2. the interest rate: consisting of the existing rate from mortgage due to the constraints of legislation,
the residual term of the fixed-interest period and the secondary legislation, the Mortgage Finance Code of
structure of the interest rate; Conduct or a given policy of the bank. Similarly, you
3. the mortgage/mortgage type. may be unable to transfer a basic level of the fixed
interest rate to your new loan.
15.2 When can I make use of the portable mortgage scheme?
1. There are two ways to make use of the portable 15.3 H
 ow much can be transferred under the portable
mortgage scheme: mortgage scheme?
1. you first buy a new home and then sell your old 1. For each component of your old loan, you may decide
one; separately whether you want to transfer the basic level
2. you first sell your present home and then buy a of the fixed interest rate of that loan component to
new one. your new loan.
2. If you buy a new home and you decide to rent out your 2. You may transfer the basic level of your fixed interest
present home and convert your old mortgage to a rate to a new loan for an amount not exceeding the
Mortgage for rental property, you may transfer the amount of the outstanding debt under your old loan on

Page 27 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
 the date the mortgage deed for your new loan is falls into a different tariff class than your old loan, the
expected to be signed by you at the office of the civil- interest rate of your new loan may be higher or lower,
law notary. If you have previously made repayments as the case may be. This means you will also have a
on your old loan, you cannot transfer the basic level of different surcharge than was applicable to your old
the fixed interest rate for these repaid amounts loan or loan component. For an explanation of the term
3. You may possibly need to borrow more money for your ‘tariff class’, see article 5.3.
new home than for your present home. This means 3. The mortgage type of your loan
that the amount of your old loan will be less than the If you change your mortgage type when you move
amount of your new loan. The interest rate applicable home, we adjust the interest rate according to the
to your old loan or loan component never applies to new mortgage type. The bank will adjust the basic
the additional amount that you borrow under your new level of your fixed interest rate to bring it into line with
loan. For this extra amount, you must conclude one or the basic level of the fixed interest rate that applied to
more new loan components. The interest rate offered the new mortgage type at the time the interest rate of
by the bank at the moment you take out these your old loan (prior to the adjustment) was set for you.
components applies to that extra amount. 4. National Mortgage Guarantee (NHG)
4. If your mortgage type changes in respect of part of the If your old loan has a National Mortgage Guarantee
amount you wish to transfer, you may transfer for that (NHG) and you take out a new loan without a NHG, or
part the basic level of the fixed interest rate to your vice versa, the bank will adjust the basic level of the
new home. What constitutes the basic level of the fixed interest rate according to the new situation. You
fixed interest rate is explained in article 15.4. will then pay the basic level of the fixed interest rate
that applied to the new situation (i.e. with or without
15.4 D
 o I continue paying the same interest rate for the an NHG) at the time the interest rate of your old loan
part of the mortgage I transfer? (prior to the adjustment) was set for you..
You may transfer the basic level of the fixed interest rate.
This is the fixed interest rate of your old loan less any
rebates and surcharges that were included in the interest Please note
rate. Any interest rate averaging margin is, however, If you have not yet sold your present home, we will arrange for
included in the basic level of the fixed interest rate you the loan or loan components that you are transferring to be
transfer. An interest rate averaging margin is an interest converted into an interest-only loan at a variable rate of interest
margin you might have to pay if the interest rate for your for your present home until such time as:
fixed-rate period changes before the end of that fixed-  your present home has been sold and the title transferred to
rate period and you do not pay the compensation for this the purchaser; and
immediately as a lump sum. Whether the bank offers  t he old loan has been repaid in full to the bank. We call this a
interest rate averaging (and if so, in what situations) transitional loan. You are not charged for this change.
depends on the bank’s policy.
If you have not yet sold your present home but have already
This may possibly mean that you will not pay the same bought a new home, you will be paying for two homes (and two
interest rate for the part of the loan that you transfer to your mortgages) at once. (A part of) the basic level of the fixed rate
new loan. What interest rate you will pay depends on: that applied to your old loan transfers to your new loan. However,
1. The tariff classes you still owe interest on your old loan. You will then pay the
Tariff classes may have been modified between the variable interest rate for your old mortgage applied by the bank
moment when your fixed-rate period starts and the at that time to new identical mortgages. Once you have sold your
moment of transfer of your interest rate. Such a present home, transferred title to the purchaser and repaid your
modification may relate to both the classification of old loan in full, you need no longer pay this variable interest rate.
the tariff classes and the levels of the interest rates for
those tariff classes. This may mean that the interest
rate for the loan component to be transferred is either
higher or lower in your new loan. 15.5 C
 an I continue to have the same mortgage type for
2. The ratio of your mortgage debt to the value of my loan?
your home You can usually transfer your existing mortgage type to
The ratio of the new loan to the value of your new your new loan without any changes. However, the bank
home may differ from the ratio of the old loan to the may possibly require you to take a repayment mortgage
value of your present home. If your new loan thus type such as a Level-Payment Mortgage or Straight-Line

Page 28 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
Mortgage if you wish to transfer a basic level of your fixed
interest rate. This will apply above all if you do not yet have your old loan and hence the old interest rate for the residual fixed-
a mortgage type that involves repayment of all or part of rate period to your new loan. The residual term of your fixed-rate
your loan. Naturally, you can transfer the basic level of the period is still four years at the moment you move house.
fixed interest rate as described in the articles above.
Your new loan has the following components:
15.6 Can I select the term of my new loan/loan  one loan component of € 215,500 with a Level-Payment Mortgage
component? type and an interest rate of 3.30% (the new tariff class surcharge
You may select the term of the new loan component to is 0.4%). This percentage is in addition to the 2.90%. The
which you transfer the basic level of the fixed interest (residual) fixed-rate period runs for a further four years; and
rate. As a consequence, the term of your new loan or  one loan component of € 119,500 with Level-Payment Mortgage
loan component need not be the same as the remaining type, an interest rate of 4.90% and a fixed-rate period of ten years.
term of your old loan or loan component.
Your old loan takes the following form:
15.7 W
 hat conditions will govern my loan? As you are making use of the portable mortgage scheme, we will
As soon as you have been to the civil-law notary’s convert your existing level-payment loan component of € 215,500
office to sign the mortgage deed for your new home, into an Interest-Only Mortgage of € 215,500. We will also change
the conditions applicable at that time will apply to your the residual term of your old mortgage to 24 months and convert
full loan. These conditions therefore govern all your the interest rate into a variable interest rate.
loan components of your new loan, including the loan
components for which you are transferring the basic
level of the fixed interest rate. This also includes any
transitional loan. 16. Increasing your loan

Please note Important term

The transitional loan has a maximum term of 24 months. Where we refer here to an existing loan, we mean the loan
you wish to increase. This is therefore your existing loan
before the increase.

An example

Your existing loan 16.1 What requirements apply if I wish to increase my loan?
The original principal of your old loan was € 250,000 and consisted of 1. You may increase your loan if:
a single loan component with a Level-Payment Mortgage type. ▶ the bank considers that the value of your home is
Following monthly repayments, the outstanding amount of the old sufficient, and
loan is now € 215,500. The interest rate you pay is 3.70%. This is the ▶ you comply with the bank’s credit policy, and
rate for the tariff class over 85% of market value. You have a fixed- ▶ the additional amount you borrow is € 5,000 or more.
rate period of ten years. The basic level of your fixed interest rate is 2. The bank will increase your loan by less than € 5,000
2.90%. In this example, the old tariff class surcharge is 0.8%. only if the increase is a result of the costs you must
pay for changing your loan.
A new home 3. If you fulfil the requirements of this chapter (16), the bank
After six years, you decide to move to a more expensive home. The will send you a new loan offer. This loan offer contains a
market value of your new home is € 400,000. To purchase your new statement of all the data on your mortgage after the
home you need a new loan of € 335,000. This means that your new increase. The amount by which your loan is increased is
loan comes in the tariff class of up to 85% of market value. Interest added to your loan by means of a new loan component.
rates are higher than at the time you bought your present home.
If you were to take out the loan from the bank now, you would now 16.2 What should I do if I wish to increase my loan?
have to pay 4.90% with a fixed-rate period of ten years. If you wish to increase your loan, you must request the
bank accordingly. You should consult your adviser about this.
Portable mortgage scheme
You decide to take advantage of the portable mortgage scheme. You
transfer the basic level of the fixed interest rate that applied to

Page 29 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
16.3 What happens to my loan and the conditions if I wish for information so that we can fulfil our obligations to
to increase my loan? regulators or authorities (such as tax authorities).
1. An increase in your loan involves changing your existing Examples of information that could be requested include
loan.You add a loan component to your existing loan. a valuation report of your home (the collateral), a recent
2. The conditions that apply to your existing loan continue energy label or an interim inspection of your home (if it
to apply to that loan. The conditions that apply to your is a self-build). The bank may also ask you to share
new loan component (the increase) are those that information in connection with the bank’s duty of care or
apply at the time of the increase. The loan offer for your the implementation of anti-money laundering rules.
increase sets out the conditions applicable to the new For example, the bank may ask you to demonstrate the
loan component. source of the money you use to pay the bank. It may also
ask you for details of your current and future income,
16.4 Do I have to visit the civil-law notary’s office in order such as details of your pension, and information about
to increase my loan? the repayment of your mortgage. If it ought to be clear to
1. It is possible to increase your loan during the loan you that we require certain information or documentation,
term without visiting the civil-law notary’s office. This you must provide it without having to be asked.
can be done if you have initially registered a higher
amount. A higher registration means that, at the time 17.3 W
 hat am I expected to do during the term of the
your mortgage is taken out, the civil-law notary enters mortgage loan?
your mortgage in the records of the Land Registry You must exercise due care in your dealings with the bank
for a higher amount than you actually require - and and take its interests into account as much as possible.
borrow - at that time. Such a higher registration must You must enable the bank to provide its services correctly
have been arranged when you took out your mortgage. and to fulfil its obligations. By ‘obligations’, we mean not
This enables you to increase your loan in the future only its obligations to you, but also the obligations the
up to the amount for which your mortgage has been bank has to regulators and other national, international
registered. In that case, you do not need to pay an or supranational authorities (including tax authorities) in
additional visit to the civil-law notary’s office. Naturally, connection with its services to you. You must provide the
you need the bank’s consent at that time to increase bank with the information and documentation it requires
your mortgage. The bank examines, at least, whether for this purpose whenever the bank requests this. Article
your income and the value of your home (the collateral) 17.2 explains what this information and documentation
are sufficient for the increase. could be.
2. If you wish to increase your mortgage but do not
have a higher registration, you will have to take out 17.4 C
 an the bank ask me to provide information at any
a second mortgage. The second mortgage is actually time during the term of the loan?
an extra loan with the same collateral. In such a case, Yes. The bank may also ask you to provide all the information
you must once again visit the civil-law notary’s office specified in article 17.2 at any time during the term of the
in order to sign a new mortgage deed. Naturally, you loan. In that case, the expectations set out in article 17.3
need the bank’s consent at that time to take out a will also apply to you.
second mortgage. The bank examines, for example,
whether your income and the value of your home 17.5 What may I use the bank’s products and services for?
(the collateral) are sufficient for the increase. You may only use our products and services for their
intended purpose, and must not misuse them or allow
17. Duty to provide information, and use of them to be misused. Examples of misuse include criminal
products and services offences and activities which are damaging to us or our
reputation, or which could damage the functioning and
17.1 What do I need to do if my details change? reliability of the financial system. If the bank asks you
You must notify us in advance of any change in your to provide information about the use of our services or
details. If this is not possible, please inform us products, you must provide enough information for us to
immediately after the change in your details takes place. assess whether you use our services or products in that way.

17.2 What information may the bank request from me? Additional rules apply for the Mortgage for rental property.
The bank may from time to time ask you for information that If you have a Mortgage for rental property, please read
it reasonably requires to provide its services, which include Chapter 30.
determining your risk profile. The bank may also ask you

Page 30 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
17.6 What can the bank use my personal data for? 18.2 W
 hat happens if I have repaid or changed my loan?
The bank handles your personal data with due care. 1. If you have repaid your loan in full to the bank before
Details of how we do this can be found in our Privacy the end of the term, you need not use the accumulated
Statement. This Privacy Statement may change, for capital to repay your loan. This may also happen if you
example as a result of changes in legislation and have changed your loan. Your account or insurance is
regulations or in our products and services. You can always then no longer pledged to the bank.
find the latest version on our website. 2. The bank may impose requirements for allowing the
pledge to lapse.
17.7 With which parties may we exchange personal data?
If we form a group together with other legal entities, 18.3 W
 hen is the accumulated capital paid out?
the data may be exchanged and processed within this 1. If you do not need the capital accumulated in the
group. We may also exchange personal data with other insurance or on the account to repay your loan, this
parties that we engage for our business operations amount may be deposited in the bank account from
or the execution of our services. By other parties, we which your monthly amount is debited. Your insurer
mean, for example, other parties that we engage to can provide you with more information about this. It
assist with the operation of our systems or to process will take some time before the amount is received in
payment transactions. We adhere to the applicable laws your bank account.
and regulations and our own codes of conduct for this. 2. The bank is not liable for any loss or damage whatsoever
The exchange of data may mean that data enter other that is or may be a consequence of this. This means that
countries where personal data are less well-protected the bank is also not liable for any price loss or tax loss.
than in the Netherlands. Competent authorities in
countries where personal data are located during or after 18.4 What happens if I do not, or no longer, comply with
processing may launch an investigation into the data. the agreements relating to my endowment insurance,
bank savings account, investment account or other
18. Insurance or account linked to the loan account or insurance?
The bank may convert the loan (or specific loan component)
18.1 What is the purpose of my endowment insurance, to which your account or insurance is linked to an Interest-
bank savings account, investment account or other Only Mortgage if:
account or insurance? ▶ you are no longer saving or accumulating any funds in
In the case of some mortgage types, you have taken this account or under this insurance, or
out an endowment insurance policy or opened a bank ▶ if your account or insurance no longer exists, or
savings account, an investment account or other account ▶ if the account or insurance in any other way no longer
or insurance together with your loan. This insurance or complies with the related agreements that the bank
account is linked to your loan. This means that the insurance made with you.
or account is an important part of your mortgage. In assessing Please also read article 13.5 ‘What happens if I do not pay
whether it will grant you the mortgage, the bank takes into the premium for my insurance or the amount for my bank
consideration whether you have this insurance or account. savings account or investment account?’.
The aim of this insurance or account is to accumulate a
given amount of capital. You may use this accumulated
capital to repay your loan or part of it to the bank at the Please note
end of the term of the loan. You pledge the insurance or The bank does not give tax advice. You should consult a tax adviser
the account to the bank when taking out your mortgage. about obtaining payment of the capital in your mortgage-linked
insurance or account.

What is pledging?
The bank wishes to have the certainty that you will repay your loan.
For The bank wishes to have the certainty that you will repay your 19. Buildings insurance
loan. For this purpose, you agree with the bank that the amount you
accumulate in your insurance or save on your account will be paid 1. You must take out a comprehensive buildings insurance
out to the bank. This is called pledging. If the amount is paid out to policy for your home. Under such a policy, your home is
the bank, it uses the amount to repay your loan or loan components. insured against damage caused by perils such as fire, storm
and burglary. A comprehensive buildings insurance policy is
also known as a comprehensive home insurance policy.

Page 31 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
2. The comprehensive buildings insurance must take In your letter, you should specify:
effect no later than the day that you sign the mortgage ▶ your complaint;
deed at the civil-law notary’s office. The policy must ▶ your address and telephone number and your e-mail
provide cover for the reinstatement value. address, if any
3. You must send the bank a copy of the policy if the ▶ your local ABN AMRO office
bank requests for it. ▶ your bank account number.

Different rules apply for the Mortgage for rental property. If Please also send copies of information that you believe to
you have a Mortage for rental propery, please read Chapter 30. have an important bearing on your complaint.

20. Change of address Upon receipt of your letter, our Complaints Management
Department will write to you stating when you can expect
When will I receive post at my new address if I have a response to your complaint.
bought a home?
You must forward the address of your new home to the 21.3 W
 hat can I do if I am still not satisfied with the
bank when you move to your new home. The bank will outcome?
send your correspondence to your new address from that Within three months of receiving the bank’s reply
date on, unless you have notified us of a different date. or within one year after you submitted your original
21. Complaints procedure complaint, you can refer your complaint to the Financial
Services Complaints Board (Klachteninstituut Financiële
21.1 How and where can I report complaints? Dienstverlening/KiFiD). You can submit your complaint
You may notify us of a complaint in various ways: online, via Mijn Kifid, or send it by post. You can download
1. By telephone: you can reach us 24 hours a day on a complaint form at kifid.nl or request a form by telephone
telephone number 0800 - 024 07 12 (freephone). from KiFiD (telephone number: +31 (0)70 333 89 99).
From abroad, you should call +31 (0)10 241 17 20
(you then pay the local charges plus the charges for Please send your complaint form to:
calling from abroad). Klachteninstituut Financiële Dienstverlening (KiFiD)
2. On the internet: you can pass on your complaint to us P.O. Box 93257
online by sending us an e-mail or by contacting us on 2509 AG The Hague
our website at abnamro.nl The Netherlands
3. At an advice centre: you can discuss your complaint
with a staff member of one of our branches or with You can find more information about KiFiD on its website.
your own contact person.
4. In writing: you can send your complaint to your You can also submit your complaint to the competent court.
ABN AMRO branch; you can find the address of your
local branch on our website at abnamro.nl

You will always receive a letter of response or confirmation

of receipt from the bank within five working days. If the
bank cannot answer your complaint immediately, the letter
will state when you can expect an answer from the bank.

21.2 What if I do not agree with the response?

If you do not agree with the response, you may send a
letter to:
ABN AMRO Bank N.V.
Complaints Management Department (HQ 11 14)
P.O. Box 283
1000 EA Amsterdam
The Netherlands

Page 32 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
 Redemption

Term (in years)

Mortgage types Monthly amount

22. Level-Payment Mortgage repaid your Level-Payment Mortgage in full by the end
of the loan term.
Monthly amount
4. After each fixed-rate period, the monthly amount can
Interest change. In the case of variable interest, the monthly
amount can change each month.
Interest

22.3 Can the monthly amount never change?

Term (in years)
Your monthly amount changes if the interest rate that you
must pay to the bank for the loan component in question
changes. The monthly amount also changes when the
Monthly amount
term is altered. The maximum term is 30 years.

Redemption

Please note
Term (in years) The loan component decreases in the case of a Level-Payment
Mortgage. Each month, you repay part of the loan. As a result, the
Interest
amount you pay in interest continually decreases. This affects the
Monthly amount
Important term amount of mortgage relief available to you. You should ask your tax
Where reference is made below to ‘this loan component’, we mean adviser for advice.
the loan component for which you have taken out a Level-Payment Investment
Mortgage.

Term (in years)

23. Straight-Line Mortgage
Monthly amount
22.1 What is a Level-Payment Mortgage (in brief)?
A Level-Payment Mortgage is a type of mortgage in
which you repay part of your loan each month. You also
Interest
pay interest each month.

Term (in years)

22.2 What do I pay each month?
1. Each month, you pay a monthly amount to the bank.
Interest
This consists
Monthly amount of:
▶ interest on your loan; and
▶ repayment of part of your Level-Payment Mortgage
Redemption
(redemption).
2. As the monthly amount remains the same in the case
of a fixed interest rate, the relationship between the Term (in years)

amount that you repay (redemption) and the amount

Interest
you pay in interest changes. At the start of the term of
your Level-Payment Mortgage, the interest component Important term
exceeds the repayment component. At the end of the Where reference is made below to ‘this loan component’, we mean
Investment
term of your Level-Payment Mortgage, the repayment the loan component for which you have taken out a Straight-Line
component exceeds the interest component. Mortgage.
3. As you repay part of your loan each month, the amount
Term (in years)
of your Level-Payment Mortgage decreases each month.
The aim of the repayments is to ensure that you have
Monthly amount

Page 33 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
23.1 What is a Straight-Line Mortgage (in brief)? 24.1 What is an Interest-Only Mortgage (in brief)?
A Straight-Line Mortgage is a type of mortgage in which 1. An Interest-Only Mortgage consists solely of a loan.
you repay part of your loan to the bank each month. There is no bank savings account or endowment insurance
You also pay interest each month. linked to such a loan.
2. During the term of this loan component, you make no
23.2 What do I pay each month? repayments to the bank. Nor do you accumulate any
1. Each month you pay an amount to the bank. capital during the term to repay the loan component to
This consists of: the bank.
▶ interest on your loan, and 3. You may never borrow more than 50% of the value of
▶ a fixed amount by which you repay this loan your home under an Interest-Only Mortgage. The bank
component (redemption). decides what part of the loan may be interest-only.
2. As you repay part of this loan component each month,
the amount of your loan component decreases each 24.2 What do I pay each month?
month. The aim of the repayments is to ensure that 1. Each month you pay an amount in interest because the
you have repaid this loan component in full by the end bank has lent you money to buy your home.
of the loan term. 2. The interest that you must pay for your loan is debited
3.  If the amount you must repay to the bank decreases, from your payment account (direct debit). You authorise
the amount you must pay in interest also decreases. the bank for this purpose by signing a direct debit
During
Monthly the term of this loan component, your monthly
amount authorisation with the loan offer.
amount therefore declines.
Interest
24.3 When can my home be compulsorily revalued?
The bank may have your home valued again at any time.
Please note This value is determined by a recognised valuer. The bank
In the case of a Straight-Line Mortgage, the amount of the loan designates the valuer. You will be informed by letter of
component decreases. This is because you repay part of the loan this valuation in good time. You must pay the costs of this
component each month. As a result, the amount you pay in interest valuation yourself.
also steadily declines. This may affect the amount of mortgage
relief available. You should ask your tax adviser for advice. 24.4 What is the consequence of the new value of the home?
Redemption 1. If it appears that the ratio of the amount of your loan to
the most recent value of your home has changed, the
Term (in years) bank may impose extra conditions in respect of all loan
24. Interest-Only Mortgage components that are interest only. These conditions
usually mean that you must repay part of this loan
Monthly amount
component during its term.
2. The bank may also provide that part of your Interest-Only
Mortgage should be changed into a different mortgage type.

24.5 Does a change in the value of my home affect the rate

of interest I must pay?
A change in the ratio of the amount of your loan to the
value of your home may affect the level of the interest you
must pay. One of the factors that the bank uses to set
the interest rate is the relationship between the amount
Interest
of your loan and the value of your home. The interest rate
may be adjusted at your request. Please also read Chapter
Term (in years) 6: ‘Change in interest rate’.

Monthly amount
Important term
Where reference is made below to ‘this loan component’, we
mean the loan component for which you have taken out an
Interest-Only Mortgage.

34 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage

PageInterest October 2023
 Please note Please note
If the value of your home falls, you may have to pay a higher During this loan component, you do not accumulate any capital to
interest rate. This is because your loan comes in a different tariff repay the loan component. You must therefore accumulate capital in
class. This applies to the entire loan, i.e. to all loan components some other way or use the proceeds of the sale of your home to repay
and the relevant interest rates. this loan component to the bank.

Your (entire) loan comes in a higher tariff class 25. Endowment Mortgage
If your loan comes in a higher tariff class, the interest rate Monthly amount
you must pay on your entire loan is the rate that applied at
the moment when you took out the loan. The bank adjusts
the interest rates of your existing and new loan components
automatically. No action is needed on your part.

An example
Interest
Tariff NHG 65% or More More More
classes less of than 65% than 85% than
applying the up to and up to and 90% of
at the value of including including the Investment
time the your 85% of 90% of value
conditions home the value the value of your
are drawn of your of your home Term (in years)
up home home

Interest 4.01% 3.99% 4.16% 4.31% 4.41% Important term

rate Where reference is made below to ‘this loan component’, we mean
(example) the loan component for which you have taken out an Endowment
Mortgage.

An example
You buy a home in 2022. The value of the home is € 200,000. You
borrow € 160,000. That is 80% of the value of the home. You therefore 25.1 How does an Endowment Mortgage work (in brief)?
pay the interest rate that applies to loans representing between 65% 1. An Endowment Mortgage consists of two elements:
and 85% of the value of your home. In this example, that is 4.16%. a. a loan, and
A valuation report carried out in 2023 shows that your home has b. a life insurance policy.
depreciated. The value of your home is now € 185,000. You have The loan and the life insurance are linked.
borrowed € 160,000. This is more than 90% of the value of the home. 2. During the term of this loan component, you make
Your loan now comes in the tariff class of over 90% of the value of the no repayments to the bank. Instead, you pay a given
home. You must therefore pay 4.41% interest on your entire loan. The amount each month to the insurer. The aim is to ensure
interest rate for new identical loans at that moment is immaterial as that, at the end of the term, you can repay this loan
the bank takes the interest rate that applied when the interest rate for component using the capital accumulated under the
your current fixed-rate period was determined in 2022. insurance policy.

Please note
24.6 When must I repay this loan component? Please also read article 6: ‘Life insurance: pledging and beneficial
It is important to the bank that you can repay your loan entitlement’ of the General Mortgage Conditions. This article
at the end of the term. For this reason, at any time during contains important information about the life insurance and the
the term of the loan the bank may ask you to provide requirements imposed by the bank in this connection. It is possible
information about your financial situation and the that you may be required to pay the premium every six months rather
possibilities regarding expected repayment or taking than monthly.
out a new loan at the end of the term.

Page 35 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
25.2 What do I pay each month? 25.5 With whom do I take out the life insurance policy?
1. Each month, you pay an amount of interest to the You take out the life insurance policy with the insurer. The
bank. You also pay each month an amount to the bank is not a party to this insurance. You cannot hold the
insurer for the life insurance. This is known as your bank liable for loss or damage resulting from the insurance.
insurance premium.
2. The insurer tells you how much premium you must 25.6 What information must the bank have about my life
pay each month. If the loan offer specifies a premium insurance?
amount, this may differ from the insurance premium The bank must know whether the insurer has accepted
that you must pay after signing the mortgage deed. your insurance application. You should allow for the
3. The interest that you must pay for your loan is debited possibility that the insurer may wish you to undergo a
from your payment account. You have authorised the medical examination. It may therefore take some weeks
bank to debit this amount each month from your before your insurance application is accepted. The bank
payment account. The insurer itself determines how must know whether your application has been accepted
the premium should be paid to it. before it decides whether it can grant you the loan. In
other words, well before you sign the mortgage deed
25.3 What happens if I do not pay my monthly amount or at the civil-law notary’s office. The insurer will send the
do not do so on time? bank a letter about this. If the bank does not receive the
1. If you do not pay your monthly amount or do not do so message, you may not sign the mortgage deed at the civil-
on time, the bank may demand immediate repayment law notary’s office. Nor will you then receive the mortgage.
of the loan. This is also known as recalling the loan.
The bank may then cancel your insurance and use 25.7 What happens if I have a life insurance policy with
the amount under the policy to repay the loan. This an uncertain target capital?
is known as surrendering the policy. The bank may 1. The bank accepts a life insurance policy only if it has
also sell your home or arrange for it to be sold. This been established:
is referred to as the foreclosure sale or forced sale of ▶ how the final capital is structured; and
your home. ▶ how much the final capital will be on the expiry
2. The amount of capital that you have accumulated date or on the date of death, if earlier.
under the policy and the proceeds of the sale of your The bank may make an exception to this subject to
home may not be sufficient to repay the loan. In that conditions.
case, you must repay the outstanding amount of the 2. If the life insurance provides insufficient security, you
loan in some other way. must take out another life insurance policy that gives
3. The bank is not liable for any tax and/or financial loss or you the certainty that you will accumulate sufficient
damage that is or may be a consequence of surrendering capital to repay this loan component.
the policy or selling your home. 3. However, you can contribute the life insurance as an
extra form of security. This can be done only if the bank
25.4 What is the purpose of the life insurance? is certain that there will be sufficient money at the end
1. The purpose of the life insurance is to enable you to of the term of this loan component.
repay this loan component using the accumulated
capital. In assessing your application for this loan 25.8 May I terminate (surrender) the life insurance?
component, the bank has taken account of the capital 1. You may not surrender the life insurance unless you
that you will accumulate under the life insurance policy. have obtained the express written consent of the bank.
The insurance is therefore an important part of your 2.  During the term of your Endowment Mortgage, you
Endowment Mortgage. may not cease paying the premium, either temporarily
2. It is possible that your life insurance policy will pay out or otherwise, without the written consent of the bank.
if you or your spouse (partner) dies. This money can Nor may you pay a lower premium, either temporarily
then be used to repay this loan component or part of it. or otherwise, without the written consent of the bank.
3. The insurance policy and the conditions of your life
insurance set out on what conditions the insurer will 25.9 Does the bank obtain a pledge?
pay out if you or your spouse (partner) dies and how 1. Yes. By signing the offer for this loan component, you
much. You should read the insurance policy and the state that you:
insurance conditions with care. ▶ accept in advance the bank’s pledge, and
▶ authorise the bank to establish this pledge, and
▶ authorise the bank to designate the beneficiary.

Page 36 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
2. This pledge of the insurance policy applies from the 25.13 W
 hat happens if the payment under the insurance
inception date of the pledge. Once you have given policy is less than the amount of the loan under my
the authorisations referred to above, you can no longer Endowment Mortgage?
change or cancel them. These authorisations are It is possible that the amount of money ultimately paid out
therefore irrevocable. by the insurer is less than the amount you borrow. If this is
3. The mortgage deed must also state that you give the the case, you cannot repay this loan component in full from
bank a first pledge on your life insurance. This must the capital accumulated under your life insurance policy. You
also be stated in your insurance policy. The policy must must then repay to the bank in some other way the amount
also provide that you have designated the bank as you cannot repay from the life insurance policy.
beneficiary. The insurer can charge for endorsing this on
the policy. These are costs that you yourself must bear. 25.14 Are there special requirements if my Endowment
Mortgage comes with a National Mortgage Guarantee?
1. If:
Important term ▶ the loan has a National Mortgage Guarantee, and
An authorisation is a declaration in which you give another person ▶ this loan component cannot be repaid to the bank
(the bank) the authority to perform certain acts on your behalf. from the payment under the life insurance,
the bank can oblige you to pay an extra amount each
month to the bank in addition to your monthly amount.
2. By paying the extra monthly amount, you repay part of
What is pledging? this loan component to the bank during the term.
You grant a right of pledge on, for example, insurance policies or
savings accounts. The pledge gives the bank certainty that you will 25.15 May I adjust the insured sum if I have repaid part of
repay the money you borrow. If, for example, you fail to pay the my Endowment Mortgage?
interest or to repay your loan, the bank may use the money in that Yes, you may. However, you need the bank’s written
insurance policy or savings account (the rights you have pledged) for consent in order to lower the amount.
the repayment of your loan.
25.16 W
 hat should I do if I do not wish the death benefit
under my life insurance to be paid to the bank if I die?
It is possible to arrange for the death benefit to be paid,
25.10 May I pledge my rights under the life insurance to in the event of your death, not to the bank as beneficiary, but
another person? to someone else. If this is your wish, the person whom
No. You may not pledge the rights under the life insurance you wish to be entitled to the death benefit must sign a
in favour of another person. statement. In this statement, the beneficiary confirms that
the insurer should pay the death benefit to the bank. The
25.11 What happens to the insurance policy? bank will then use this amount to repay this loan component
The original policy of the life insurance remains in the (or part of it). You must send the signed statement to
bank’s possession during the term of this loan component. the insurer. This statement, which is also known as the
You receive a copy of the policy. ‘widow’s or partner’s statement’, is sent to you with the
loan offer.

25.12 When must I use the capital accumulated with the

insurer to make repayment to the bank? Please note
At the end of the term of this loan component, you must You should consult your adviser before signing and forwarding this
use the capital you have accumulated under the insurance statement.
policy to make repayment of this loan component in full to
the bank. You must therefore ensure that you accumulate
sufficient capital with the insurer.

Page 37 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
 Monthly amount

26. Savings-Based Mortgage

Please note
From 2013 an owner-occupied home savings account can
Interest The bank savings account is called an ‘owner-occupied home
only be opened in a limited number of situations. You should savings account’ (Dutch acronym SEW) in the Income Tax Act 2001.
therefore ask your adviser to what extent you can still make
Term (in years)
use of this bank product and the accompanying conditions.

Monthly amount Please read this first

ABN AMRO Hypotheken Groep B.V. is the provider of the bank
savings account. ABN AMRO Hypotheken Groep B.V. is a subsidiary
of the bank. ABN AMRO Hypotheken Groep B.V. is responsible for
the administration and management of your mortgage, including
your bank savings account. The bank is the provider of your loan.

Interest

26.2 How is a bank savings account opened?

Investment 1. ABN AMRO Hypotheken Groep B.V. opens a bank
savings account for you. This is done after ABN AMRO
Term (in years) Hypotheken Groep B.V. receives the application form
from you.
2. ABN AMRO Hypotheken Groep B.V. uses the details
Monthly amount
Important term from your application form in order to open the bank
Where reference is made below to ‘this loan component’, we mean savings account. A bank savings account must be in
the loan component for which you have taken out a Savings-Based the name of the person or persons who take out this
Mortgage. Where we refer in these conditions to an account year, loan component.
we mean each year that follows the starting date of the bank savings 3. A bank savings account may be opened only in the
account. name of a natural person. It may not be opened in the
name of a business.
Interest

26.3 W
 hat tax relief is provided by the Savings-Based
26.1 How does a Savings-Based Mortgage work (in brief)? Mortgage, subject to conditions?
Redemption
1. A Savings-Based Mortgage consists of two elements: 1. If you meet all the statutory conditions you can save a
a. a loan, and given amount tax-free. This is the tax relief amount. The
Term (in years)
b. a bank savings account. level of tax relief is determined by the Tax and Customs
The loan and the bank savings account are linked. Administration and may change. If you save more than
2. During the term of your Savings-Based Mortgage, you the tax relief amount, you must pay tax on this.
make no repayments to the bank. Instead, you deposit 2. The bank is not responsible and/or liable for any tax or
a given amount each month in your bank savings account. financial consequences of your use of the bank savings
This amount is known as the contribution. account.
3. A bank savings account is a special savings account for
which tax relief is available. You can save up to a given
amount without having to pay tax on it. This maximum Please note
amount is determined by the Tax and Customs The bank does not give tax advice. If you wish to receive tax
Administration and is subject to alteration. If you have advice, you should consult a tax adviser.
two or more loan components with a Savings-Based
Mortgage, the maximum amount applies to the
aggregate of all your bank savings accounts.
4. The aim of your bank savings account is that, at the
end of the term of this loan component, the amount
in your bank savings account is equal to the amount
of this loan component. You must then repay this loan
component using the saved amount.

Page 38 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
 26.6 What is a bank savings account?
Tax and the bank savings account A bank savings account is a special savings account into
The tax relief provided by the Savings-Based Mortgage means which you are obliged to pay an agreed amount each month.
that you need pay no tax on the amount you save in your bank This is your contribution to your bank savings account.
savings account, subject to a given maximum. This applies only if You may not withdraw any money from the bank savings
you fulfil all the conditions. In order to make use of this tax relief, account because it is blocked. A bank savings account
you must therefore comply with the rules laid down by law. always forms part of your Savings-Based Mortgage.

26.7 Does the bank obtain a pledge?

1.  Yes. By signing the offer for this loan component, you
26.4 What do I pay for each month? state that you:
1. Each month, you pay an amount in interest for this loan ▶ accept in advance the bank’s pledge, and
component. You also deposit an amount in your bank ▶ authorise the bank to establish this pledge on the
savings account each month. This is the monthly bank savings account and all rights and entitlements
contribution. Both amounts are specified in your loan you had to it.
offer. 2. Only with the bank’s written consent may you pledge
2. The interest that you must pay for this loan component these rights to another person.
and your monthly contribution are debited from your 3. The pledge applies from the starting date of the bank
payment account as a lump sum. You have signed a savings account.
direct debit authorisation allowing for this amount to 4. Once you have authorised the bank, you may no longer
be automatically debited from your payment account. change or cancel the authorisation. This authorisation is
3. You cannot change the amount of your monthly irrevocable.
contribution without the bank’s consent.

26.5 W
 hat happens if I do not pay my monthly amount or Important terms
do not do so on time? An authorisation is a declaration in which you give another person
1. If you do not pay your monthly amount or do not do so (the bank) authority to perform certain acts on your behalf.
on time, the bank may demand immediate repayment
of the loan. This is also known as recalling the loan. The
bank may then use the amount in your bank savings
account to repay all of part of your loan. The bank may What is pledging?
also sell your home or arrange for it to be sold. This You grant a right of pledge on, for example, insurance policies or
is referred to as the foreclosure sale or forced sale of savings accounts. The pledge gives the bank certainty that you will
your home. Please also read articles 13.4 and 13.5. repay the money you borrow. If, for example, you fail to pay the
2. The amount of capital that you have saved in the bank interest or to repay your loan, the bank may use the money in that
savings account and the proceeds of the sale of your insurance policy or savings account (the rights you have pledged) for
home may not be sufficient to repay the loan. In that the repayment of your loan.
case, you must repay the outstanding amount of the
loan in some other way.
3. The bank is not liable for any tax or financial loss or
damage that is a consequence of emptying your bank 26.8 W
 hat requirements are made in respect of a bank
savings account or selling your home. savings account?
1.  The requirements for a bank savings account are
specified in the Dutch Income Tax Act 2001.
Please note 2. You may have a bank savings account only if you or
The bank may use the capital in your bank savings account to repay your partner have your own owner-occupied home with
your loan because you have pledged your bank savings account to the your own home acquisition debt within the meaning of
bank. The bank may also sell your home or arrange for it to be sold the Dutch Income Tax Act 2001.
because you have given the bank the mortgage right on your home.

Page 39 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
 no longer qualify for tax relief under the Dutch Income
Important Tax Act 2001. This may also apply if you wish to use the
What requirements does the law establish in respect of a bank money in your bank savings account to repay this loan
savings account? component (or part of it). In such a case, you may not
 You may not withdraw money from your bank savings account use the tax relief schemes offered by the Savings-Based
as it is blocked. You may withdraw money from your bank Mortgage.
savings account only if you wish to repay your Savings-Based 2. If you nonetheless wish to withdraw money from your
Mortgage to the bank. bank savings account, you must notify the bank of this
 A bank savings account cannot be opened in the name of in writing. The bank will then close the bank savings
businesses or persons who do not reside in the Netherlands. account and transfer the balance of the account to an
account number specified by you. This will have direct
consequences for this loan component. Your Savings-
Based Mortgage must then be changed into a different
26.9 W
 hat is the rate of interest I receive on a bank mortgage type. It is possible that you may have to pay
savings account? costs for this.
1.  The rate of interest that you receive on a bank savings
account is equal to the rate that you must pay for this
loan component. Please note
2. You receive interest on the amount on your bank  As the bank has a pledge on your bank savings account, you need the
savings account. bank’s consent if you wish to withdraw money from your account.
3. The interest rate that you must pay for this loan  I f you withdraw money from your bank savings account, this
component is specified in your loan offer. has direct consequences for your Savings-Based Mortgage.
I t also affects the tax you must pay. You should first discuss
26.10 When do I receive the interest? this with your tax adviser.
1. An amount of interest will be credited to your bank
savings account each month.
2. You will receive this amount on the first of the month
following the month in which the amount was in your 26.14 M
 ay ABN AMRO Hypotheken Groep B.V. withhold
bank savings account. money from the balance on the bank savings account?
1. ABN AMRO Hypotheken Groep B.V. may withhold
money from the amount in your bank savings account
An example if you do not fulfil the statutory conditions governing
You pay the contribution for your bank savings account on the bank savings account.
25 June. The interest on the amount is calculated from 25 June. 2. By law, ABN AMRO Hypotheken Groep B.V. is required
The interest is deposited in your bank savings account on 1 July. to pass on certain information to the Tax and Customs
Administration. This includes, for example, the closure
of your bank savings account.
3. ABN AMRO Hypotheken Groep B.V. may in certain cases
26.11 On what account do I receive the interest? be held liable by the Tax and Customs Administration
The interest is credited to your bank savings account. for income tax that you are required to pay to the Tax
and Customs Administration and must be remitted
26.12 I s it possible to withdraw money from the bank directly to the Tax and Customs Administration. This is
savings account? why, in cases where the amount on your bank savings
No, it is not possible to withdraw money from your bank account is released, ABN AMRO Hypotheken Groep
savings account before the end of the term of this loan B.V. will not pay part of the amount to you.
component. The bank savings account is blocked. Please This is the amount that you must pay to the Tax and
read article 26.13 if you nonetheless wish to withdraw Customs Administration by way of income tax.
money from your bank savings account. 4. If you can show that you yourself have paid the
income tax to the Tax and Customs Administration,
26.13 W
 hat happens if I wish to withdraw money from my ABN AMRO Hypotheken Groep B.V. will then deposit
bank savings account before the end of the term? the withheld amount, including the interest accumulated
1. If you nonetheless wish to withdraw money from your up to that time, in your bank account.
bank savings account, the bank savings account will

Page 40 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
26.15 The bank savings account and tax aspects longer meets the tax relief requirements, it will contact
You are personally responsible for providing the Tax and you in order to discuss the options.
Customs Administration with the correct information about 3. If your bank savings account no longer meets the
the balance on your bank savings account in your tax statutory requirements, your Savings-Based Mortgage
return. Neither the bank nor ABN AMRO Hypotheken must be changed into a different mortgage type.
Groep B.V. may ever be held liable for any tax and/or financial
consequences (loss or damage) resulting from the use of 26.17 What requirements must the monthly contribution to
the bank savings account and this loan component. the bank savings account meet?
The monthly contribution is subject to the following
requirements under the Dutch Income Tax Act 2001:
Please note 1. The amount that you may deposit in an account year
The tax treatment of your bank savings account depends on your may not exceed ten (10) times the lowest amount
personal situation (financial and otherwise). You should consult a tax that you have paid in total in an account year. In other
adviser about this. words, the ratio of the total of the highest deposits
in an account year to the total of the lowest deposits
in an account year may not exceed 1:10. This is also
known as the bandwidth requirement.
Important 2. From the original starting date of your Savings-Based
Mortgage you may deposit an amount (contribution) in your
When does the bank savings account no longer meet the bank savings account for a maximum of thirty (30) years.
requirements of the tax legislation?
Your bank savings account no longer meets (among other things) the
statutory requirements if: An example
a. the conditions for a bank savings account as referred to in the Your monthly contribution is € 150. In an account year, you therefore
Income Tax Act 2001 are no longer fulfilled; in this Act, the bank deposit € 1,800 (12 x € 150). In another account year, you deposit in
savings account is known as an ‘owner-occupied home savings total € 7,200. This is permissible. The ratio is then 1,800 : 7,200.
account’ (Dutch acronym SEW); This is equal to 1 : 4. In another account year, you may deposit in total
b. ownership of the bank savings account changes or is a maximum of € 18,000. The ratio of 1,800 : 18,000 is then equal to 1 : 10
apportioned for a reason other than that you are marrying or and meets the bandwidth requirement.
divorcing or that your relationship with the person with whom you
have a long-term household ceases; You must fulfil the bandwidth requirement throughout the entire term
c. the bank savings account is entered in the balance sheet of a of the Savings-Based Mortgage. The bank assesses whether the total
business; of the contribution is sufficient for each separate account year.
d. you withdraw money from the bank savings account;
e. thirty (30) years have elapsed since the first deposit in the bank
savings account;
f. you die, unless one of your surviving dependants keeps the bank 26.18 H
 ow is the amount of my monthly contribution
savings account open and continues to fulfil all conditions of the bank determined?
savings account. 1. The amount of your monthly contribution depends on the
You should consult your tax adviser if you wish to change anything level of interest that you must pay for this loan component,
relating to your bank savings account. the term of the bank savings account, the amount that
may be contributed without tax consequences and the
ultimate amount that you wish to save in order to repay
this loan component (the target capital).
26.16 What happens if my bank savings account no longer 2. The ultimate total on your bank savings account
meets the statutory requirements? therefore consists of:
1. If your bank savings account no longer meets the ▶ your contribution, and
statutory requirements, this has consequences for this ▶ the interest that you receive on the balance of your
loan component. It may also have consequences for bank savings account.
the tax you must pay. If you think this may be the case, 3. The target capital of your bank savings account is
you should contact your tax adviser. Subsequently, you always equal to the amount of this loan component.
or your tax adviser should contact the bank.
2. If the bank knows that your bank savings account no

Page 41 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
 Please note Please also read article 25.17 (‘What requirements must the monthly
The target capital is the amount that you wish to accumulate in your contribution to the bank savings account meet? ’). A change in the
bank savings account. The amount of your monthly contribution is interest rate may mean that you no longer come within the bandwidth.
determined in part by the amount of the target capital. You must take this into account when making an extra deposit.

26.19 How does a change in the interest rate affect my 26.22 W

 hat happens to the amount of the monthly
monthly contribution? contribution if I have made an additional deposit?
1. If the interest rate that you pay for this loan component If you deposit an additional amount in your bank savings
decreases or increases, this will affect the interest that you account, the amount of your monthly contribution may
receive on the amount in your bank savings account. If change. Your monthly contribution changes as of the first
all other characteristics of this loan component remain day of the month following your additional payment. The
the same, the amount of your monthly contribution will amount of your new monthly contribution is specified in
rise or fall. A change in the interest rate may mean that the notice that you receive from the bank or ABN AMRO
you no longer come within the bandwidth of 1:10. Hypotheken Groep B.V. after your additional deposit.
2. If the interest rate you receive on the balance of your
bank savings account falls, the amount of your monthly
contribution rises. ABN AMRO Hypotheken Groep B.V. Please note
will inform you of the final amount of your monthly The text of the following articles is based on the regulations in force
contribution for the fixed-rate period. You will receive when conditions were drawn up. The regulations may change.
a notice about this after you have signed the mortgage You should ask your tax adviser for the latest regulations.
deed at the civil-law notary’s office. If you change
the interest rate during the term of the mortgage, for
example at the moment that your fixed-rate period
ends, the bank will also inform you of how this affects 26.23 W
 hat does continuation without tax consequences
your monthly contribution. involve?
1. If you have previously:
26.20 When does my monthly contribution change? ▶ taken out a Savings-Based Mortgage, or
The amount of your monthly contribution changes if: ▶ taken out another mortgage in which you have
▶ you make an extra deposit in your bank savings account; accumulated a given amount in a savings-linked
▶ the interest you pay for this loan component changes; insurance (or an Owner-Occupied Home Capital
and/or Insurance (Kapitaal Verzekering Eigen Woning/KEW))
▶ the term of the bank savings account changes. with an inception date on or after 1 January 1992, or
▶ saved in a bank savings account (Owner-Occupied
26.21 What should I do if I wish to deposit more money in Home Savings Account (Spaarrekening Eigen
my bank savings account? Woning/SEW)),
In addition to your monthly contribution, you can deposit an you can have this amount deposited in your new bank
extra amount in your bank savings account. Your adviser can savings account, subject to certain conditions. The Tax
provide you with information about the available options. and Customs Administration will treat the new bank
savings account as a continuation of the old Owner-
Occupied Home Capital Insurance (KEW) or Owner-
Please note Occupied Home Savings Account (SEW).This is known
The amount that you may deposit in an account year may not exceed as a continuation without tax consequences.
ten (10) times the lowest amount that you have paid in an account year. 2. You must personally ask the insurer or the bank with
In other words, the ratio of the total of the highest deposits in an account which you have the savings-linked insurance or bank
year to the total amount of the lowest deposits in an account year may savings account whether they will transfer the amount
not exceed 1:10. This is also known as the bandwidth requirement. to your new bank savings account. The insurer or bank
must draw up a transfer form and/or enter all the details of
your savings-linked insurance or bank savings account.
The insurer or bank must send this completed transfer
form to ABN AMRO Hypotheken Groep B.V.

Page 42 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
 26.27 When do I repay this loan component to the bank?
Please note 1. At the end of the term of your Savings-Based Mortgage,
The bank must have received the value (the amount) of your old you must repay this loan component to the bank.
insurance or bank savings account and the transfer form within 2. If you take out a Savings-Based Mortgage, you
six months of the date on which you take out your Savings-Based agree with the bank that you will accumulate a given
Mortgage. If this is not the case, the bank will convert your savings- amount in your bank savings account (the target
based mortgage into a Level-Payment Mortgage. In addition, the value capital). If the balance on your bank savings account
of your old insurance or bank savings account must be at least € 500. is equal to this target capital, this loan component is
The bank may always adjust this amount. Some other conditions are automatically repaid.
also applicable. Please consult your adviser about this.
26.28 W
 hat happens to my bank savings account if I repay
the loan at the end of the term of this loan component?
At the end of the term of this loan component, you must
26.24 What
 is the starting date of the term of the bank use the amount that is in your bank savings account to
savings account after the contribution from a repay the loan component. If there is still money in the bank
savings-linked insurance or bank savings account? savings account after repayment of this loan component,
The term of your bank savings account starts on the you may withdraw it. Once all the money has been
day that you must pay your first monthly contribution. withdrawn from the bank savings account, the account
The term of the bank savings account with ABN AMRO will be closed.
Hypotheken Groep B.V. starts at the moment when the
bank receives the accrued value fromthe previous bank
or insurance company. Please note
If you do not use the money in your bank savings account to repay
26.25 When does the bank calculate the amount of my your Savings-Based Mortgage, you do not fulfil the statutory
monthly contribution? conditions for tax relief. You must then pay tax on the interest that
1. The bank makes a final calculation of the amount of you have received on your bank savings account. You should
your monthly contribution after: discuss this with your tax adviser.
▶ it has received the amount of your (old) savings-
linked insurance or bank savings account, and
▶ it has received the transfer form completed by the
insurer or bank. 26.29 M
 ay I keep my bank savings account if I no longer
Your bank savings account is opened at that time. have a mortgage with the bank?
2. The amount of your monthly contribution and the 1. Yes, you may. But the period within which this is possible
starting date of your bank savings account are is limited. You must have taken out a mortgage again
mentioned in the letter that you receive after your no later than in the calendar year following that in which
bank savings account is opened. you have repaid your mortgage. This period starts after:
▶ you have repaid this loan component to the bank; and
26.26 What requirements must the contributed insurance ▶ you have not taken out a new mortgage with the
or bank savings account meet? bank and
1. The bank sets requirements for the value of your old ▶ You have allowed your bank savings account to
insurance or bank savings account. At present, the continue.
value must be at least € 500. The bank may always In such a case, however, you must continue to deposit
adjust this amount. It may always set extra conditions your monthly contribution in this period.
to be fulfilled by the contributed insurance or bank 2. During this period, the bank will pay you a basic rate on
savings account. Your adviser can tell you more about this. the balance of your bank savings account. The amount
2. The details of your old savings-linked insurance or bank of this basic rate is determined once by the bank and
savings account are also taken into account in assessing does not change thereafter in this period. You will receive
whether your new bank savings account meets the tax the basic rate for a maximum of 2 years. This will be
requirements (the statutory conditions). paid after the end of each month.
3. It is possible that the amount of your monthly
contribution may change because after repaying this
loan component you receive a different interest rate on
the balance of your bank savings account.

Page 43 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
4. If you do not take out a Savings-Based Mortgage with Loan and loan components
the bank after this period, your bank savings account Your mortgage can consist of one or more components.
will be closed. The credit balance of your bank savings
account will then be transferred to your bank account. ‘Home Equity Mortgage’ loan component
You must notify the bank of your IBAN. The termination of If you take out this mortgage, you have a Home Equity
your Savings-Based Mortgage may have consequences Mortgage loan component. You can opt for a ‘Lump sum Home
for the taxes you must pay. Equity Mortgage’ or a ‘Monthly Home Equity Mortgage’.
5. Your bank savings account falls within the deposit
guarantee scheme. The deposit guarantee scheme ‘Other’ loan component
entails that if a bank is no longer able to meet its financial Your mortgage from the bank can also consist of one or
obligations, individuals and legal entities may claim more loan components with a different mortgage type;
reimbursement of their deposits up to EUR 100,000 per in this chapter we call these ‘other’ loan components.
account holder. The bank savings account and the loan These loan components may exist alongside the Home
which both form part of your Savings-Based Mortgage Equity Mortgage. Taking out a Home Equity Mortgage will will in
is set off against each other when a claim under the principle have no effect on these other loan components.
deposit guarantee scheme arises. If you no longer You will continue to pay the interest, capital repayment
have a loan, for instance because you have repaid the where applicable, premiums or contributions that you pay
loan with the proceeds from the sale of your home or for these ‘other’ loan components; they will not be added
because you have made use of the portable mortgage to the mortgage debt for the Home Equity Mortgage.
scheme, your savings balance is guaranteed up to a Your other loan components may fall within a higher tariff
maximum of EUR 100,000 per account holder. The class if you take out a Home Equity Mortgage. In this
deposit guarantee scheme is not applicable to every case, your other loan components may be subject to
individual or legal entity and does not cover all deposits. a higher interest rate. Please also read Article 6.3.b
For more information, please go to the website of the ‘Increasing your loan’.
Dutch Central Bank (dnb.nl), where you can also find the
most recent information on the size of the guaranteed
amount which may change as a result of new regulations. Important term
For the purposes of the deposit guarantee scheme, Where reference is made to ‘this loan component’ in this chapter, we
your deposits that you hold with ABN AMRO Hypotheken mean the loan component for which you have taken out a Home Equity
Groep B.V. are aggregated and the limit of EUR 100,000 Mortgage. Where we are referring to a different loan component, we
is applicable to the total amount. will specify that.

26.30 What information does the bank or ABN AMRO

Hypotheken Groep B.V. pass on to the Tax and
Customs Administration? 27.2 How will I receive the amount that I wish to withdraw?
By law, the bank is required to pass on certain information to the ▶ If you are withdrawing the amount as a lump sum, the
Tax and Customs Administration. This includes, for example, bank will transfer this amount to the civil-law notary. If
information about the closure of your old bank savings account. you do not need to visit the civil-law notary, the bank
will transfer the amount to the account number you
27. H
 ome Equity Mortgage (Overwaarde have designated. It will do this within five working days
Hypotheek) after the bank has entered the Home Equity Mortgage
in its administration.
27.1 What is the Home Equity Mortgage? ▶ If you opted for a monthly Home Equity Mortgage, the
The Home Equity Mortgage enables you to use the equity bank will always transfer monthly withdrawals to your
in your home without having to sell your home and without designated account number. It will do this on the first
increasing your monthly payments. The Home Equity Mortgage working day of the month after the bank has begun the
is a loan; you pay interest on the amount that you borrow. administration of your Home Equity Mortgage.
However, you do not transfer interest each month. The ▶ You agree with the bank the number of months for
bank adds the interest to your Home Equity Mortgage each which you wish to receive the monthly withdrawal.
month. This means that your mortgage debt increases during During this period, the bank will transfer the withdrawal
the term of the mortgage. You must repay the mortgage debt amount to your designated account number on the first
when your home is sold or on the death of the longest working day of each month.
living person who took on the mortgage debt.

Page 44 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
27.3 How long can I continue to receive a monthly ▶ You cannot change the interest rate during the term of
withdrawal? the mortgage.
When taking out the loan, you decide what amount You will find the current fixed-rate periods and the associated
you wish to receive each month and for how long. The interest rates at abnamro.nl/hypotheken
maximum term of the monthly withdrawal is equal to the
longest fixed-rate period offered by the bank for the Home
Equity Mortgage. This means that the monthly withdrawal Important!
will stop on a certain date. Interest will continue to be The interest rate stated in the interest rate offer for your Home Equity
added to your mortgage debt after this period, until the Mortgage is the interest rate we will charge. This applies even if the
Home Equity Mortgage has been repaid in full. Your monthly interest rate has changed at the time you sign the mortgage deed at
payments will remain the same, even if the monthly the office of the civil-law notary or, in the event of a withdrawal under
withdrawals stop. an existing registered mortgage, when your first fixed-rate period
commences.
27.4 Can the bank stop my monthly withdrawal? This also applies when the interest rate is refixed. The offer you
The bank will adhere to the agreement made with you receive will state the interest rates from which you can choose for the
regarding the monthly withdrawal. If there is a good reason fixed-rate periods. If the interest rate on the interest rate refixing date
for doing so, for example improper use of your home or is lower or higher, the bank will not alter the interest rate.
fraud, the bank may stop your monthly withdrawal.

27.5 How much will I pay each month?

27.7 What is my mortgage debt?
‘Home Equity Mortgage’ loan component Your total mortgage debt to the bank consists of:
The bank will add the amount of interest you have to 1. The total of the amounts you have withdrawn under
pay each month to your mortgage debt. This means that the Home Equity Mortgage; and
your mortgage debt will increase. The bank calculates the 2. Interest and costs which the bank has added to your
amount of this interest based on the accrued mortgage mortgage debt; and
debt, including interest. This means that the amount of 3. The outstanding mortgage debt of other loan
interest you have to pay increases. This is known as the components with the bank, if you have these.
compound interest or compounding effect.
This total is the mortgage debt that must be repaid to the
‘Other’ loan component bank at the end of the term of your Home Equity Mortgage,
If you have taken out other loan components from the bank if you move home or on the death of the longest living
in addition to your Home Equity Mortgage component, person who took on the loan.
you will continue to pay the interest, capital repayment
where applicable, premiums or contributions for these The amount of the total mortgage debt that must
loan components each month as you were already doing. ultimately be repaid is not yet clear at the time you take
The bank will not add these amounts to the mortgage debt out the Home Equity Mortgage.
under the Home Equity Mortgage.
27.8 When does my mortgage debt have to be repaid?
27.6 What interest rate will I pay? 1. Within no more than 12 months following the death of
You agree with the bank how long you would like to fix the the longest living person who took on the mortgage debt.
interest rate for. This is called the fixed-rate period. When 2. Within no more than 12 months starting from the day
taking out the Home Equity Mortgage, you can choose that the longest living person who took on the mortgage
from different fixed-rate periods. debt no longer lives in the home.
3. When the home is sold.
In addition to the points set out in Article 6 of these 4. If the bank ‘calls in the mortgage’, in other words
Conditions, ‘Change in interest rate’, the following demands that you repay your mortgage debt.
conditions also apply for the Home Equity Mortgage.
▶ The first fixed-rate period is set at a minimum of 10 years.
▶ After this first period, you can opt for fixed-rate periods
of less than 10 years.
▶ You cannot choose a variable interest rate.

Page 45 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
27.9 C
 ould I be left with a residual debt after my home has
been sold? Situation 2:
If you sell your home, you must repay your mortgage debt. Guarantee at market value applies
If the proceeds are lower than the mortgage debt, you You sell your home for more than the appraised market value
will be left with a residual debt. You must then repay that applying at the time of sale. The mortgage debt on the redemption
residual debt to the bank in another way. date is higher than the proceeds of the sale.
It is possible that the bank may waive all or part of your
residual debt. We call this the guarantee at market value. It is also possible that the sale proceeds are higher than the
You can read more about this in Article 27.10. appraised market value but lower than the total mortgage debt
on the redemption date.
27.10 What is the guarantee at market value?
The Home Equity Mortgage offers a guarantee at market Example
value. This guarantee gives you the certainty that you or Mortgage debt on redemption date € 290,000
your surviving dependants will not be left with a residual Appraised market value € 270,000
debt if the home is sold for a price that is lower than the Proceeds of sale € 280,000
amount of your mortgage debt.
In this example, the home is sold for a higher amount than the
27.11 When can I use the guarantee at market value? appraised market value, but a lower amount than the mortgage debt
Under certain conditions, you can make use of the on the redemption date. A residual debt of €10,000 remains. You pay
guarantee at market value if you are left with a residual €280,000 to the bank. The bank waives the residual debt of €10,000.
debt when selling your home. If your total mortgage debt
to the bank is lower than the anticipated market value of Situation 3:
your home, you can redeem it using the proceeds of the sale Guarantee at market value applies partially
of your home and you will not need to use the guarantee. The proceeds of the sale are lower than the appraised market value
The situations in which a residual debt has to be repaid by applying at the time of the sale, and the market value is lower than the
you or will be borne by the bank are described below. total mortgage debt.

Introductory note It is also possible that the proceeds of the sale are lower than the
In the situations described below, we assume that you appraised market value and lower than the total mortgage debt at the
have not taken out any new other loan components with end of the mortgage term. In that case, the bank will waive the
the bank after taking out a Home Equity Mortgage. residual debt up to the appraised market value. This means that you
do not have to repay the difference between the mortgage debt and
the appraised market value. You do have to repay the difference
Situation 1: between the appraised market value and the actual sale proceeds.
Guarantee at market value applies
You sell your home for the appraised market value applying at the Example
time of sale. The mortgage debt on the redemption date is higher Mortgage debt on redemption date € 290,000
than the proceeds of the sale. Appraised market value € 270,000
Proceeds of sale € 260,000
Example
Mortgage debt on redemption date € 290,000 In this example, you do not sell the home for the appraised market
Appraised market value € 270,000 value. The guarantee at market value applies only for the difference
Proceeds of sale € 270,000 between the mortgage debt on the redemption date and the
appraised market value. The bank waives an amount of €20,000.
In this example, the home is sold for the appraised market value. The difference between the appraised market value and the proceeds
The debt on the redemption date is higher than the proceeds of the of the sale is not covered by the guarantee at market value. In this
sale. You have a residual debt of €20,000, but you do not have to example, you pay €260,000 to the bank. A residual debt of €10,000
repay this, because the difference of €20,000 falls under the remains which you must repay to the bank in another way.
guarantee at market value and is waived by the bank.

Page 46 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
 ▶ Within no more than 12 months starting from the
Situation 4: day that the longest living person who took out the
Guarantee at market value does not apply mortgage debt no longer lives in the home.
The proceeds of the sale are lower than the appraised market value ▶ If the home has reduced significantly in value due to
applying at the time of the sale, but the market value is higher than the neglect or negligence, if there is overdue maintenance,
total mortgage debt. if the home is declared uninhabitable or if the home
must be rebuilt or repaired by order of the government.
Yet another possibility is that the appraised market value is higher ▶ If the home has been wholly or partly destroyed or has
than the total mortgage debt at the end of the mortgage term, but that been seriously damaged.
you sell the home for less than the appraised market value, and that the ▶ If the home is underinsured or not insured.
proceeds are also lower than the debt. In that case, the bank will not ▶ If we discover that the information you provided when
waive the residual debt. This means that you must repay the difference applying for the Home Equity Mortgage was incomplete
between the mortgage debt and the actual proceeds of the sale. or incorrect.
▶ In the event of foreclosure sale of the home as referred
Example to in Article 12 of the General Mortgage Conditions.
Mortgage debt on redemption date € 290,000 ▶ For loan components you take out after you have taken
Appraised market value € 300,000 out the Home Equity Mortgage, unless the new loan
Proceeds of sale € 280,000 component is a Home Equity Mortgage.

In this example, the home is not sold for the appraised market value. 27.13 Can my heirs also use the guarantee at market value?
The difference between the total mortgage debt at the end of the Yes. The guarantee at market value applies for your heirs in
mortgage term and the proceeds of the sale is not covered by the the same way as for you.
guarantee at market value. In this example, you pay €280,000 to the
bank. A residual debt of €10,000 remains which you must repay to the 27.14 How is the market value determined?
bank in another way. If you wish to make use of the guarantee at market value,
a valuer must determine the market value of your home
before you put it up for sale. The bank will appoint the
valuer. You should contact the bank to arrange for the
27.12 What conditions apply for the guarantee at market valuation. The valuer will prepare a valuation report.
value?
The following conditions apply for the guarantee at market Basic principles
value: 1. The market value of the home is appraised in
▶ The market value of your home must be established unoccupied, unencumbered condition and with vacant
before you sell your home. Please also read Article possession.
27.14. ‘How is the market value determined?’. This means that the new owner can/could move into
▶ After the sale and legal conveyance of your home has the home straight away without any problems.
completed, you repay the mortgage debt to the bank This also means that the home is not let, for example.
from the sale proceeds. 2. The valuation only includes movable goods which form
▶ During the term of the Home Equity Mortgage, you part of the collateral.
comply with all agreements, conditions and provisions 3. The costs of this valuation are paid by the bank.
applying for the Home Equity Mortgage.
▶ The guarantee at market value only applies for the loan 27.15 W
 hat happens if I or the bank do not agree with the
components you have from the bank at the time you appraised market value?
take out the Home Equity Mortgage. It is possible that you do not agree with the appraised market
value, or that the bank does not agree with it. In that case,
The guarantee at market value does not apply in the the complaints procedure comes into play; you will find
following cases: this in Article 21 of these Conditions and on the bank’s
▶ If the Home Equity Mortgage is not repaid on time. The website. If a new valuation is carried out at your request,
term within which it must be repaid is as follows: you must pay the costs of this yourself. The bank will use
▶ Within no more than 12 months following the death the information contained in the new valuation report,
of the longest living person who took out the such as market value and state of maintenance. We issue
mortgage debt. guidelines which must be met by the valuation report.

Page 47 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
27.16 What costs can the bank add to my mortgage debt? 27.21 What happens in the case of overdue maintenance?
These might include things such as the costs of valuation In that case, immediate maintenance is necessary. If
of your home during the mortgage term or the costs of the bank requests you to do so, you must carry out this
carrying out necessary maintenance, for example. If you maintenance, or arrange for it to be carried out, within a
do not pay these costs directly yourself, the bank will add reasonable period. If you do not do so, the bank may give
them to your mortgage debt. instruction for the maintenance to be carried out. You will
be liable for the costs of this, which we will add to your
27.17 Can the bank have my home valued during the term mortgage debt. In addition, the guarantee at market value
of the mortgage? may lapse.
The bank may have your home (the collateral) valued again
at any time. We may only do this if we have a reason for 27.22 C
 an I change the features of my Home Equity Mortgage
doing so, for example if we suspect overdue maintenance, during the mortgage term?
or if house prices fall. The value of your home is determined You may make the following changes during the term of
by a recognised valuer. The bank will appoint the valuer. The the mortgage:
costs of this valuation are payable by you. If you do not pay 1. You can convert your Home Equity Mortgage into a
these costs, the bank will add them to your mortgage debt. different type of mortgage. We will examine whether your
income is sufficient at that time: it is important that the
27.18 Can the bank ask me questions about the value and mortgage remains affordable after such a conversion.
condition of the home? 2. If you have opted for a monthly withdrawal, you can
The bank can ask you for an up-to-date WOZ report each year. cancel this withdrawal.
This enables the bank to keep track of the development
of the value of your home. We may also ask about the You can not make the following changes:
occupancy and state of maintenance of your home each 1. If you have opted for monthly withdrawal, you cannot
year. If the bank asks you about this, you must provide this alter the amount or shorten or lengthen the term of
information within a reasonable period. the withdrawal. It is however possible to take out a
new Home Equity Mortgage loan component during
27.19 What rules apply for maintaining my home? the term. If you want to do this, the bank will decide at
The state of maintenance of your home is important for that time whether it is possible.
the guarantee at market value. If the valuation report 2. You can not opt for a different interest rate during the
shows that your home has not been properly maintained fixed-rate period.
or that there is overdue maintenance, the guarantee 3. In the case of the Home Equity Mortgage loan component,
at market value may lapse. See Article 27.12, ‘What you cannot pay all or part of the interest yourself.
conditions apply for the guarantee at market value?’
27.23 C
 an I transfer my Home Equity Mortgage to the name of
27.20 What is regarded as overdue maintenance? another person?
Overdue maintenance is considered to exist if the valuation You cannot add a different person to the Home Equity
report states that: Mortgage or any other loan components you have from the
▶ The interior maintenance, exterior maintenance and/or bank alongside your Home Equity Mortgage. If you acquire
structural condition of the home are ‘poor’ or ‘moderate’; a new partner, for example, you cannot add that new partner
and/or to the mortgage. You should bear in mind that heirs will be
▶ The valuer states that there are defects which could asked to repay the full outstanding amount of the debt if the
affect the value of your home; and/or longest living person who took out the debt dies. This could
▶ The anticipated costs for immediately necessary works mean that they have to sell the home whilst the new partner
to address overdue maintenance amount to more than is still living in it. It is however possible to remove someone
10% of the appraised market value; and/or from the mortgage, for example if one of the persons who
▶ The valuer has the impression that a structural survey took out the mortgage dies, or if you separate.
is necessary; and/or;
▶ The structural survey reveals that there is overdue 27.24 C
 an I transfer my Home Equity Mortgage to another
maintenance; and/or home?
▶ The valuer observes severe damage attributable to the It is not possible to transfer (‘port’) your Home Equity
use of the property. Mortgage to another home. This means you cannot make
use of the portability arrangements as set out in Chapter
15 ‘Portability’.

Page 48 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
27.25 Can I repay all or part of my mortgage debt early? 28. Sustainable Mortgage (Duurzaam Wonen
You may always repay all or part of your mortgage debt Hypotheek)
before the end of the mortgage term.
28.1 What is a Sustainable Mortgage?
27.26 D
 o I have to pay a compensation if I repay all or part of The Sustainable Mortgage is a loan component that is
my Home Equity Mortgage early? intended to help you make your home more energy
If you repay your mortgage debt early, it is possible that efficient. The available funds are paid to you via a building
you need to pay a compensation to the bank. fund account. You can only withdraw funds from the
building fund account if you have an invoice showing that
27.27 How does the bank calculate the compensation? you are using the money to make your home more energy
The bank will do this in the same way as for the other efficient. Article 1.b. of the Dutch Temporary Mortgage
mortgage types; see Chapter 14 of these Conditions. Lending Rules (Tijdelijke Regeling Hypothecair Krediet)
specifies the measures which qualify as increasing
energy efficiency. The list has been drawn up by the Dutch
Exception! government. The Sustainable Mortgage may only be used
You may repay up to 10% of the mortgage debt at any time without to pay for measures that are on this list. You will find more
incurring a compensation. However, with the Home Equity Mortgage, information at abnamro.nl
your debt increases. For this mortgage type, therefore, the bank uses
10% of the accrued debt at the time that you repay as a basis for the The Sustainable Mortgage can be a Level-Payment or
calculation. Straight-Line Mortgage. You will find more information
about the Level-Payment Mortgage and the Straight-Line
Mortgage in Chapters 22 and 23, respectively, of these
Conditions.
27.28 Can I withdraw an amount again after I have repaid it?
No, that is not possible. If you have repaid an amount, Loan and loan components
we will deduct it from your debt. You may take out a new Your mortgage can consist of one or more loan
Home Equity Mortgage loan component if you want to components.
withdraw some of your equity again at a later time.
If you want to do this, the bank will decide at that time Sustainable Mortgage loan component
whether it is possible. If you take out this mortgage, you have a ‘Sustainable
Mortgage’ loan component
27.29 C
 an the bank request an increase in the amount of the
registered mortgage? Other loan components
When a Home Equity Mortgage is taken out, a right of Your mortgage from ABN AMRO can also consist of one or
mortgage is established on a home for a certain amount more loan components, each with a different mortgage type.
and registered with the Land Registry. When you take out In this chapter we call these ‘other loan components’.
the mortgage, the bank determines what the minimum
amount of the registered mortgage must be. If at any time
the registered amount is too low to cover the increasing Important term
mortgage debt, the bank may ask you to increase the When we use the term ‘this loan component’ below, we mean the
registered mortgage. You will in that case be liable to pay loan component ‘Sustainable Mortgage’. Where we are referring to
the costs of the civil-law notary. a different loan component, we will specify that.

27.30 D
 oes the interest on the Home Equity Mortgage qualify
for mortgage interest tax relief?
In principle, the Home Equity Mortgage does not qualify 28.2 W
 hat are the minimum and maximum amounts for
for interest deduction from your taxable income in box 1. which I can take out a Sustainable Mortgage?
This means that mortgage interest tax relief is not available. The minimum amount of a Sustainable Mortgage is €5,000,
This also applies in principle if you use the money to and the maximum is €25,000. If you have several Sustainable
modify your home. However, exceptions may apply. You Mortgage loan components, the original principals of these
should always contact your tax adviser if you use the loan components can together amount to a maximum of
Home Equity Mortgage for your own home. €25,000.

Page 49 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
28.3 Can I convert my Sustainable Mortgage to a different
mortgage type? You have or are buying a home. The value of the home is €200,000.
No, that is not possible. You cannot change the mortgage You borrow €185,000. Your loan of €185,000 is made up of several loan
type of your Sustainable Mortgage. components.
Loan component 1: €100,000 Level-Payment Mortgage
28.4 What type of interest rate will I pay for a Sustainable Loan component 2: €60,000 Interest-Only Mortgage
Mortgage? Loan component 3: €25,000 Level-Payment ABN AMRO Sustainable
You pay a fixed rate of interest for your Sustainable Mortgage
Mortgage, regardless of the tariff class into which your total
loan falls. This means that the interest does not depend on In total you are borrowing 93% of the value of the home. Your total
the ratio between the value of your home and the amount loan therefore falls into the tariff class for a loan of more than 90% of
of your loan. The interest rate does not change during the the value of the home. The amount of the Sustainable Mortgage does
term of the loan. You will find an overview of the current not count towards determining the interest rate (the risk premium(s))
interest rates for the Sustainable Mortgage at abnamro.nl for your other loan components. The loan amount without the
Please also read Articles 5.7, 6, 6.2, 6.4 and 8 for your other Sustainable Mortgage thus amounts to €160,000. That is 80% of the
loan components. value of the home. In this example, for your other loan components
(loan component 1 and loan component 2), you pay the interest rate
28.5 Can the interest rate I have to pay change before I applying for loans amounting to more than 65% and less than or equal
have signed the mortgage deed? to 85% of the value of the home. In this example that is 4.16%.
The interest rate stated in the interest rate offer for your
Sustainable Mortgage is the interest rate we will charge. Additional repayments
This applies even if the interest rate has changed at the If you repay an additional €15,000 on your ABN AMRO Sustainable
time you sign the mortgage deed at the office of the Mortgage, this has no effect on the interest rate applying for your
civil-law notary or, in the event of a withdrawal under an other loan components. This is because the amount of the
existing registered mortgage, when your first fixed-rate Sustainable Mortgage does not count towards determining the
period commences. interest rate (the risk premium(s)) for your other loan components.
Please also read Articles 6.1 and 6.2 to see what applies
for your other loan components.

28.6 Does the amount of my Sustainable Mortgage

influence the tariff class of my other loan components
and the associated risk premium percentage? 28.7 C
 an I change the interest rate for the Sustainable
The total amount of your loan, including the amount of Mortgage?
your Sustainable Mortgage, counts towards determining The interest rate for the Sustainable Mortgage is fixed
the tariff class into which your total loan falls.The amount of during the entire term of the loan component, and can
the Sustainable Mortgage does not count towards determining therefore not be changed. Please also read Articles 6.5, 8
the interest rates (the risk premium percentages) for your and 9 for your other loan components.
other loan components. You pay a fixed rate of interest for your
Sustainable Mortgage, regardless of the tariff class into which 28.8 P
 ayment of funds from building fund account
your total loan falls. Please also read articles 5.3, 6.3 and 6.4. You use the ‘Sustainable Mortgage’ loan component to
make your home more energy efficient. The available
funds are paid to you via a building fund account. You can
An example only withdraw funds from the building fund account if you
have an invoice showing that you are using the money to
Tariff classes applying when conditions Interest rate make your home more energy efficient. You can read what
formulated (example) the bank understands by making your home more energy
National Mortgage Guarantee 4.01% efficient in Article 1.b of the Temporary Mortgage Lending
Less than or equal to 65% of the value of the home 3.99% Rules (Tijdelijke Regeling Hypothecair Krediet) on the
More than 65% and less than or equal to 85% of ABN AMRO website. Please also read Article 12.15 to see
of the value of the home 4.16% the options for a home improvement or new-build fund
More than 85% and less than or equal to 90% account.
of the value of the home 4.31%
More than 90% of the value of the home 4.41%

Page 50 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
28.9 Does my building fund account have to contain a Your mortgage payment holiday applied to the interest
minimum balance? payments, repayments and any debited mortgage-related
No. The money from the Sustainable Mortgage remains in contributions or premiums. The total amount of monthly
the building fund account, including if the balance drops mortgage payments that you temporarily made from the
below €7,500. Please also read Article 12.15 to see the aforementioned mortgage loan is repaid via a Payment
options for a regular home improvement or new-build fund Holiday Mortgage loan component. You pay a fixed
account. amount each month.

28.10 Surplus at the end of the term of the building fund As you repay part of this loan component each month,
account? the amount of this loan component decreases each
If you do not use all of the money from the Sustainable month. The aim is to ensure that you have repaid this
Mortgage to make your home more energy efficient as loan component in full by the end of the Payment Holiday
set out in Article 1.b of the Temporary Mortgage Lending Mortgage.
Rules, we will use the money that remains as a repayment
on your Sustainable Mortgage loan component. It is In principle, the Payment Holiday Mortgage does not
not possible to have the money transferred to your own qualify for interest deduction from your taxable income
account or to use it to make a repayment on another loan in box 1. This means that the Payment Holiday Mortgage
component. Please also read Articles 12.16 and 12.17. may have income tax consequences. Please consult a tax
adviser about this.
28.11 Will my mortgage be assigned to a different tariff
class after an extra repayment on my Sustainable Loan and loan components
Mortgage? Your mortgage can be made up of one or more loan
Yes, that is possible. In that case, your total loan will be components.
assigned to a different tariff class. However, the amount
of your Sustainable Mortgage has no influence on the Other loan components
interest rate (risk premium) you pay on your other loan Your mortgage at ABN AMRO can also consist of one or
components. Please also read Article 14.9. more loan components, each with a different mortgage
type. In these conditions, we call these the ‘other loan
28.12 Portability components’.
The Sustainable Mortgage is not portable. This means you
cannot transfer the Sustainable Mortgage loan component
or the interest rate applying for this loan component to a Important term
new home. If you buy a new home, you must repay the When we use the term ‘this loan component’ below, we mean the
Sustainable Mortgage component. Please also read Chapter ‘Payment Holiday Mortgage’ loan component. If we are referring to a
15 to see what applies for your other loan components. different loan component, we will specify that.

28.13 Repayment from your own funds

You will not have to pay any charges on your Sustainable
Mortgage loan component if you repay it from your 29.2 Can I convert a Payment Holiday Mortgage to a
own funds, in other words not from borrowed funds. different mortgage type?
ABN AMRO will determine whether the funds qualify as No, you cannot change the mortgage type of your
your own funds. Please also read Article 14.5 to see the Payment Holiday Mortgage.
options for repaying your other loan components without
incurring any charges. 29.3 What type of interest rate will I pay for the Payment
Holiday Mortgage?
29. Payment Holiday Mortgage You pay a fixed interest rate of 0% for your Payment
Holiday Mortgage, regardless of the tariff class into
29.1 What is a Payment Holiday Mortgage? which your total loan falls. This means that the level of
The Payment Holiday Mortgage is a loan component that the interest rate does not depend on the ratio between
has arisen because you have made use of a mortgage the value of your home and the amount of your loan.
payment holiday. In this period, you temporarily paid The interest rate does not change during the term of the
your monthly mortgage amount via a mortgage loan loan. The interest rate cannot be changed or reduced.
for consumer purposes that was opened in your name.

Page 51 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
29.4 Does the amount of my Payment Holiday Mortgage
influence the tariff class of my other loan That is 4.16% in this example. You pay a fixed rate of interest for
components and the associated risk premium your Payment Holiday Mortgage, regardless of the tariff class into
percentage? which your total loan falls.
The total amount of your loan, including the amount
of the Payment Holiday Mortgage, counts towards Additional repayments
determining the tariff class into which your total loan If you repay an additional € 2,000 on your Payment Holiday
falls. The amount of the Payment Holiday Mortgage Mortgage, this has no effect on the interest rate applying for
does not count towards determining the interest rates your other loan components. This is because the amount of the
(the risk premium percentages) for your other loan Payment Holiday Mortgage does not count towards determining
components. You pay a fixed rate of interest of 0% for the interest rates (the risk premium(s)) for your other loan
your Payment Holiday Mortgage, regardless of the tariff components.
class into which your total loan falls. Please also read
Articles 5.3, 6.3 and 6.4.

29.5 Can I change the interest rate for the Payment

An example Holiday Mortgage?
The interest of the Payment Holiday Mortgage is fixed
Tariff classes applying when Interest rate during the entire term of the loan component, and can
conditions formulated (example) therefore not be changed. Please also read Articles
National Mortgage Guarantee 4.01% 6.5, 8 and 9 for your other loan components.
Less than or equal to 65% of the value of the home 3.99%
More than 65% and less than or equal to 85% of 29.6 Will my mortgage be assigned to a different tariff
of the value of the home 4.16% class after an additional repayment on my Payment
More than 85% and less than or equal to 90% Holiday Mortgage?
of the value of the home 4.31% Yes, that is possible. In that case, your total loan will be
More than 90% of the value of the home 4.41% assigned to a different tariff class. However, the amount of
your Payment Holiday Mortgage has no influence on the
The value of the home is € 200,000 and you have a loan of interest rate (risk premium percentage) that you pay on
€ 168,000. Your loan of € 168,000 is made up of several loan your other loan components. Please also read Articles 6.3
components. and 29.4.
Loan component 1: €108,000 Level-Payment Mortgage
Loan component 2: € 60,000 Interest-Only Mortgage 29.7 Can I change the term of the Payment Holiday
Mortgage?
You have made use of a mortgage payment holiday. This has No, you cannot change the term of your Payment Holiday
given rise to a Payment Holiday Mortgage loan component. Mortgage.
Loan component 3: € 5,000 Payment Holiday Mortgage
29.8 Portability
Your loan currently stands at € 173,000. The Payment Holiday Mortgage is not portable. This
means that you cannot transfer the Payment Holiday
Your total loan represents 86% of the value of your home. Your Mortgage or the interest rate applying for this loan component
total loan therefore falls into the tariff class for a loan of more to a new home. If you sell the home, you must repay
than 85% and less than or equal to 90% of the value of your home. the Payment Holiday Mortgage. Please also read Chapter
15 to see the options for your other loan components.
The amount of the Payment Holiday Mortgage does not count
towards determining the interest rates (the risk premium(s)) for 29.9 Early repayments on Payment Holiday Mortgage
your other loan components. The loan amount without a You are not charged any compensation on the part of
Payment Holiday Mortgage thus comes to € 168,000. your Payment Holiday Mortgage loan component that you
repay early. The part that you repay on your Payment
That is 84% of the value of your home. In this example, you pay the Holiday Mortgage does not count towards the total
interest rate applying for loans in the tariff class of more than 65% amount that you may repay each calendar year without
and less than or equal to 85% of the value of the home for your being charged a fee. Your monthly payment is automatically
other loan components (loan component 1 and loan component 2). reset after an early repayment on your loan. The term of

Page 52 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
your loan component will not change. Please also read Conditions, under ‘Inspection, valuation/revaluation and
Article 14.5 for the options to repay your other loan checking’, include additional conditions that are applicable
components without being charged a fee. with regard to your duty to provide information.

30. Mortgage for rental property 30.6 W

 hat rules apply under the Mortgage for rental
property as regards the buildings insurance?
30.1 What is a Mortgage for rental property? Chapter 19 ‘Buildings insurance’ states what conditions
A Mortgage for rental property is a mortgage to buy a apply to the buildings insurance to be taken out by you.
property to rent it out to a third party (a tenant) instead With a Mortgage for rental property, the insurance policy
of to live in it yourself. Specific conditions apply to the must additionally provide cover in the case that the property’s
Mortgage for rental property. A number of those will be occupant is not you, but a third party (in this case a
explained in this article. The other conditions can be found tenant).
in your further loan documentation. The bank’s granting of
the Mortgage for rental property constitutes its consent to 30.7 C
 an I transfer my Mortgage for rental property to
let the property to a third party for permanent occupation. another property?
Chapter 15 deals with the matter of portability, i.e. the
30.2 W
 hat spending purposes are permitted under the transfer (porting) of the basic level of the fixed interest
Mortgage for rental property? rate you have on a given component of your former loan
The Mortgage for rental property may be used to buy, to your new loan for the residual term of the fixed-rate
renovate or refinance a property to rent out. period. An important condition for using the portability
scheme is that you sell the former property. Under the
30.3 To whom may I rent out the property? Mortgage for rental property, therefore, you can expressly
The property collateralised under the Mortgage for rental only avail yourself of the portability scheme when selling
property must be occupied by a third party, and this third the property to be let and buying a new property to be let.
party must be a single household. The property may only
be let to students if one of the occupants is a child of the
owner of the property. You must let us know if your child is
moving out of the property.
ABN AMRO Bank N.V., established in Amsterdam and entered in
30.4 Rental income must be received in a current the Trade Register of the Amsterdam Chamber of Commerce under
account held in the Netherlands number 34334259
The rental income that you receive for renting out the
property must be received by you in a current account
with a Dutch IBAN number. The tenancy agreement must
state the account number used for rent payments.
Payment in cash is not permitted.

30.5 D
 uty to provide information under the Mortgage for
rental property
According to Chapter 17 ‘Duty to provide information’, the
bank may from time to time ask you for information that
it reasonably requires to provide its services, including
to determine your risk profile. As you do not live in the
property for which the Mortgage for rental property is
taken out, the bank may inquire into the occupancy every
year and ask you to submit written proof of the tenancy
agreement(s) concluded. Providing the information requested
is mandatory. The bank may also request a valuation report
or details regarding the property’s state of repair. You
must provide this information within a reasonable period
of time when so requested by the bank. Any costs to be
incurred are for your own account. The General Mortgage

Page 53 of 53 Conditions governing ABN AMRO Mortgage Types - Home Mortgage October 2023
abnamro.nl
General Mortgage Conditions

February 2015
General Mortgage Conditions

This is a translation of the original Dutch text and is furnished for the customer’s convenience only.

Article 1: Definitions and interpretation

In these General Mortgage Conditions, the following terms have the following meanings:

Definition Interpretation
Deed The notarial deed in which the Conditions are declared applicable, including the quotation attached to the notarial
deed and other notarial instruments that serve to supplement or amend the notarial deed.
Bank The party that provides the Loan and/or acts as mortgagee or pledgee under the Deed.
Mortgagor The party that mortgages or pledges property under the Deed.
Conditions These General Mortgage Conditions.
Loan A loan to which these Conditions are declared applicable.
Collateral All immovable property and rights in respect of which the Bank obtains or should obtain a mortgage right under the
Deed and/or the Conditions.
Debtor The person to whom the Loan is granted, who later becomes party to the Loan or who is designated as
Debtor in the Deed and, where there is more than one person, both individually and jointly.
Debt The total amount that the Debtor owes at any time to the Bank under the Loan by way of principal, interest or costs,
together with amounts owed to the Bank by the Debtor under the Deed or the Conditions in connection with the Loan
or the Collateral (such as default interest). In these Conditions, words used in the singular include the plural and vice
versa, unless clearly indicated otherwise. Where there is any conflict between provisions, the conditions specifically
agreed for the Loan take precedence, followed successively by the provisions of the Deed and the Conditions.

Article 2: Loan and payments (iii) if a periodic repayment has been agreed and it is
found that the Debt cannot be repaid on this basis
Monthly amount within the agreed term.
The Debtor must pay a monthly amount to the Bank each
month. The following provisions apply to this: Extra repayment and credit interest
a. The monthly amount consists of the agreed amounts The Debtor may possibly repay an extra amount on the
of interest and repayment. For the purposes of Loan over and above the agreed repayment. In such a
calculating the interest, a month is deemed to have case, the Debtor will continue to owe debit interest on
30 days and a year to have 360 days. The monthly this amount during the remainder of the current month,
amount can be increased by such further amounts as the but the Bank will in exchange pay him an equal amount
Debtor owes to the Bank in connection with the Loan. in credit interest. At the end of the current month, the
b. The monthly amount must always be paid on time, outstanding amount of the Loan will be reduced by
which means no later than on the first day following this credit interest and the extra amount that has been
the calendar month for which the monthly amount is repaid. With the exception of such cases, the Bank will
owed. By way of exception, the monthly amount for not reimburse credit interest on amounts received in
December must have been paid no later than on the respect of the Loan, unless agreed otherwise.
last working day of that month.
c. The monthly amount must be paid for the first time Costs in connection with the Loan
for the month in which the Loan is established. The The following costs are borne by the Debtor and must be
first monthly amount will be adjusted to take account paid in good time by the Debtor:
of the day of the month on which the Loan is a. the costs of granting the Loan and the costs of the
established. Deed, of the registration, alteration, renewal,
d. The monthly amount is reviewed: improvement and supplementation of the mortgage
(i) upon alteration of the interest rate; right and of the execution copy as well as the costs
(ii) after an extra repayment on the Loan; of cancelling the mortgage;

Page 1 of 8  General Mortgage Conditions February 2015

b. the costs of documentary evidence of the registration 2. fees or other amounts owed under the Deed;
of the mortgage and other documents, the submission 3. interest;
of which may be required by the Bank. 4. repayments.

Annual statement Article 4: Rules on the Collateral

The Bank will supply the Debtor annually with a statement
of the Debt as at the end of the calendar year. The Debtor is obliged to guarantee that all rules in this
article are complied with fully, promptly and correctly.
Article 3: Rules for payments; default interest
Use, maintenance and upkeep
Manner of payment The Collateral must be properly used. The use must comply
The Debtor must pay all amounts which he owes to the with the applicable legislation and regulations. The Collateral
Bank: must be maintained in good condition to the Bank’s
a. in the manner indicated by the Bank; satisfaction. All necessary repairs and renewals must be
b. in the currency in which his obligation is denominated; carried out immediately. Obligations arising from legislation
c. within the agreed period or the period specified by and regulations, contracts or rules concerning the Collateral
the Bank; must always be performed promptly and correctly.
d. without set-off, discount or deduction and without Without the Bank’s prior written consent, the following
costs to the Bank. occurrences may not take place in relation to the
A payment to the Bank is not deemed to have been Collateral:
made until the payment is actually received by the Bank. a. improper use, abuse or neglect of the Collateral;
This also applies to payments by means of periodic or b. demolition, excavation or removal;
direct debit. c. refurbishment work that reduces the value;
d. division into parts or combination with other property;
Default and default interest e. change of layout, appearance or designated use;
The Debtor must fulfil his payment obligations on time. f. change in the nature of the use or operation;
This means that the Debtor must always pay within the g. sale, alienation or transfer;
period agreed for payment or the period set by the Bank. h. transfer to a legal person or cooperative venture or
If the Debtor has not made payment within the period for allocation in the case of a separation and division;
payment, he will be deemed to be in default without i. encumbering with a mortgage or other limited rights
further notice of default. If the Debtor must pay costs or obligations attached to a given capacity, other than
or other amounts to the Bank under the Deed or these in favour of the Bank;
Conditions, he will be deemed to be immediately in j. loss of easements where the Collateral is the dominant
default when this payment obligation arises. As soon as tenement and loss of rights attached to a given capacity
the Debtor fails to pay an amount that is due, he will owe or of other rights;
the Bank default interest of 1% a month (30 days), which k. removal or loss of constituent parts or movable property
is due and payable immediately, over that amount until intended to be permanently used for the benefit of
it has been paid. For the purpose of calculating default the Collateral.
interest, part of a month is rounded up to a full month.
No right of removal
Other amounts owed Changes or additions to the Collateral made after the
Amounts that are owed by the Debtor under the Deed or establishment of the mortgage will also serve as security
the Conditions but not included in the Loan (e.g. default for the Bank and may not be removed.
interest or reimbursable costs) may be added by the
Bank to the balance of the Loan or, at the discretion of Letting
the Bank, charged separately to the Debtor. Without the Bank’s prior written consent, the Debtor is
not authorised to:
Attribution of payments a. let or lease all or part of the Collateral or to allow it to
The Bank will set off the amounts received against the be used by a third party;
Debt in the following order: b. renew or alter existing leases, tenancy agreements or
1. amounts which the bank has paid or expenses which agreements for use;
it has incurred for the Debtor; c. pledge or alienate rent or comparable charges to a

Page 2 of 8  General Mortgage Conditions February 2015

 party other than the Bank or to have them paid in make any agreement or settlement concerning such
advance for a period of more than one month. claims. The Bank is entitled to determine whether and,
Acts in breach of this provision may be declared void by if so, how amounts that are paid on these claims will
the Bank (or be set aside at the request of the Bank) in be used for reinstatement or repair of the Collateral.
the exercise of its security in accordance with the law. h. The Debtor is liable for damage that the Bank suffers
because the Collateral is uninsured or inadequately
Insurance, damage, compensation insured.
The Collateral must always be insured under a comprehensive i. If the Collateral is an apartment right, the Debtor may
policy with a reputable insurance company against: fulfil his obligation to insure the Collateral and keep it
a. fire; insured if he arranges – in accordance with any further
b. lightning; rules laid down by the Bank – for this obligation to be
c. storm damage; discharged by the association of owners. The provisions
d. aircraft damage; referred to above at (a) to (h) apply, mutatis mutandis,
e. explosion; and to the Debtor, as far as possible.
f. any other usual perils or perils specified by the Bank.
Inspection, valuation/revaluation and checking
The following provisions also apply to the insurance and The Bank is always entitled to arrange for the Collateral
to any damage or decrease in value: to be:
a. If the Collateral is a building, the insurance must a. inspected;
cover the reinstatement value. The Bank may impose b. revalued;
further rules governing the insurance and these rules c. checked in order to ascertain whether the Debtor
must be complied with. meets all his obligations in respect of the Collateral
b. If the Bank so requests, the Debtor must arrange for promptly, completely and properly.
the insurer to endorse on the insurance policy a note
of the Bank’s mortgage right. The Bank itself may also The Debtor will fully cooperate in this inspection, valuation
have this note endorsed on the insurance policy. and/or checking. The following provisions apply in this
c. If the Collateral is not insured in accordance with the connection.
Conditions, the Debtor must immediately notify the a. The Debtor will ensure that the persons used by the
Bank. Bank for this purpose can gain access to the Collateral.
d. The Debtor must secure the agreement of the insurance b. The valuation will be carried out by a certified valuer.
company to notify the Bank of the end of the insurance The Bank is entitled to designate and/or appoint the
well in advance. valuer. The Debtor will ensure that the valuer is given
e. If the Bank so requests, the Debtor must produce to the opportunity to perform all activities that the valuer
the Bank the insurance policy and the endorsement considers necessary. The costs of the valuation will
of the mortgage right on the policy. For this purpose, be borne by the Debtor. It may possibly have been
the Debtor will in any event supply the insurance agreed that the Collateral will or can be revalued at
policy and any further proof to the Bank. If the Debtor set times in order to determine the foreclosure value.
does not comply with this obligation within a reasonable If the Bank considers that the ratio of the resulting
period, the Bank will be entitled to take out the insurance foreclosure value to the Debt so warrants, it may,
itself and the debtor will then be obliged to pay the subject to any further agreements that may have been
costs incurred in this connection immediately to the made, adjust the interest rate for the Loan and/or require
Bank. In doing so, the Bank may, at its discretion, act early repayment of the Debt or part of the Debt.
either as authorised representative on behalf of the
Debtor or in its own name. Bank’s power in the event of infringement; Debtor’s duty
f. The Debtor must immediately notify the Bank in the of reimbursement
event of damage to the Collateral or any other defect If the Debtor does not strictly observe the rules of this
that reduces its value. article, he will be deemed to be in default without further
g. The Debtor must immediately notify the Bank of all notice of default. The Bank is entitled, at the expense of
his claims to compensation for damage to the the Debtor, to remedy any acts or omissions that are
Collateral or reduction in the value of the Collateral contrary to the rules of this article or to arrange for them
and claims that take the place of the Collateral. to be remedied. The Debtor is obliged to immediately
Without the Bank’s prior consent, the Debtor may not reimburse the Bank for all costs incurred in this connection.

Page 3 of 8  General Mortgage Conditions February 2015

Performance of obligations to third parties; Debtor’s duty b. The pledge may take place in the manner determined
of reimbursement by the Bank, including a pledge by means of a deed
The Debtor must guarantee to the Bank the prompt and signed under hand or by authentic deed.
correct performance of all payment obligations concerning c. The Debtor guarantees that he is entitled to pledge
the Collateral, including the obligations to pay: such property and that the property is or will be free of
a. insurance premiums that are due; pledges and other rights and claims of persons other
b. taxes and duties that are due; than the Bank.
c. the cost of preserving, maintaining or repairing the d. The Debtor hereby authorises the Bank to pledge such
Collateral and any further costs in connection with the property on behalf of the Bank to itself, if necessary
Collateral; repeatedly, and also to transact business with itself
d. ground rents, rent charges, building charges and other and do everything that is useful or necessary for the
expenses that are due. purposes of the pledge.
If these payments are not made promptly or correctly, or e. The authorisation to the Bank to pledge the property to
the Debtor fails to demonstrate this at the Bank’s request, itself is irrevocable.
the Bank will itself be entitled to make these payments f. The Debtor will notify the Bank as soon as it becomes
at the expense of the Debtor. The Debtor will be obliged aware of the existence or establishment of the property.
to reimburse the related costs immediately to the Bank. g. The Debtor will immediately supply the Bank with all
data and documents and other cooperation that may
Article 5: Pledging be necessary or useful for enforcing or exercising the
pledge, including – in the case of a pledge of claims –
Claims and other property to be pledged collection of the claims.
The Debtor will pledge to the Bank all the following h. In the case of a pledge of claims: the Bank is entitled
– existing and future – claims and other property, at any time to give notice of the pledge of these claims
including all related ancillary rights, as soon as this is to the person who must pay the claims.
possible in law: i. The Debtor will authorise the Bank in this connection
a. all claims for compensation for damage to the to make compensation agreements and/or settlements
Collateral or reduction in its value and other and issue discharges for them, refer disputes to the
compensation that takes the place of the Collateral; courts, arbitrators or third parties charged with giving a
b. in the case of letting, leasing or other paid use of the binding ruling, and appoint experts. The Debtor may not
Collateral, all claims relating to the rent or payments perform these acts himself without the Banks’ consent.
for use, as well as other rights on account of the This authorisation is irrevocable.
letting, leasing or use;
c. in the case of a long lease, building rights or other Article 6: Life insurance; pledging and beneficial
limited rights to which the Collateral is subject: entitlement
the claims against the party with the limited right;
d. if the Collateral consists of an apartment right: all It is possible that the Debtor may undertake in the Deed or
claims against the Association of Owners, the joint elsewhere to pledge claims under a life insurance policy to
owners or the administrator; the Bank. In such a case, the following provisions apply to
e. all claims against third parties in relation to the the pledging of these claims:
Collateral on account of the use of the Collateral or a. The section entitled ‘Further rules on pledging’ in
on account of expropriation of or a claim against the article 5 above is applicable to this.
Collateral on any grounds whatsoever; b. The Debtor must designate the Bank irrevocably as
f. all present and future crops and/or plants harvested beneficiary under the life insurance policy.
from the Collateral; Designation of another beneficiary is permitted,
g. all property that takes (or will take) the place of the provided that the other beneficiary authorises the
said property. insurance company to pay all rights arising from or on
account of the life insurance policy exclusively to the Bank.
Further rules on pledging c. The Bank is authorised to exercise the rights of
The following rules also apply to the claims or other surrender, lending, conversion into a paid-up policy
property which the Debtor must pledge to the Bank: and designation of beneficiary. If the Debtor fails to
a. The pledge serves as security for the same claims for meet a claim for which the Collateral serves as
which the Collateral serves as security in accordance security under the Deed, the Bank is also entitled to
with the Deed. terminate the insurance by means of surrender (or in

Page 4 of 8  General Mortgage Conditions February 2015

 some other way) and to collect the surrender value. Waiver and termination
d. The Debtor will not terminate the insurance without The Bank is not obliged to relinquish its mortgage right to
the Bank’s consent. the Collateral or other securities as long as not all claims
e. The Debtor must supply the insurance policy, together that are (or may be) covered by this security have been
with any other proof, to the Bank within one month of paid to it in full and each legal relationship from which such
the date on which the Deed is drawn up. claims can arise has been fully settled. If the mortgage
f. The Debtor must guarantee that the life insurance right ends, the entry in the public registers will be
premium is always promptly paid and must adduce cancelled at the request and expense of the Debtor.
evidence of this at the Bank’s request. If the Debtor The Debtor authorises the Bank to do everything which is
fails to do so, the Bank will be entitled to pay the or may be useful or necessary for this purpose. The Bank
premium at the Debtor’s expense, and the Debtor is entitled to terminate its mortgage rights or pledges,
will be obliged to reimburse the Bank immediately for wholly or partly, by giving notice of termination.
these costs. The Bank is also entitled to demand
immediate payment of the full Debt. Article 8: M
 ore than one Debtor; joint and
g. If the Bank receives a payment under the life insurance several liability
policy, it will pay to the person entitled the surplus
that remains after payment of the Debt. However, the If the Loan has been granted to more than one Debtor,
Bank may also obtain another claim under an existing each of the Debtors will be jointly and severally liable
legal relationship for which the Collateral serves as for payment of the entire Debt and all other obligations
security under the Deed. In such a case, the Bank is under the Loan, the Deed or the Conditions. This means
entitled to keep possession of the surplus as security that the Bank may claim from each of them the full amount
until the legal relationship has been completely of the Debt, but that, where payment is made by one
wound up and all resulting claims have been paid in Debtor, the other need no longer pay.
full to the Bank.
h. Once all claims for which the Collateral serves as The following provisions also apply in this connection:
security under the Deed have been paid, the Bank will, a. If the Debt becomes due and payable early by one
at the Debtor’s request, waive its rights of pledge and Debtor, it will also always be due and payable early by
beneficial entitlement in relation to the life insurance. the other Debtor.
The Bank will also then give notice of this waiver to b. Each Debtor waives all defences to which debtors
the insurance company. who are jointly and severally liable are entitled. If the
Bank remits the debt or grants a postponement of
Article 7: General rules on security payment, this will have effect only in relation to the
Debtor to whom the remission or postponement is
Different types of security expressly granted. Other Debtors cannot invoke the
If the Bank has different types of security (e.g. mortgage, remission or postponement.
pledge or suretyship) for the discharge of the Debt or the c. Claims which one Debtor obtains against the other
performance of other obligations of the Debtor, the Bank Debtor by way of recourse or subrogation are
is entirely free to choose which right it wishes to exercise subordinated to everything which the Bank is or will
and the order in which it does this. be entitled to claim from the other Debtor. The Debtors
must pledge all these claims to the Bank. The section
Guaranteeing security entitled ‘Further rules on pledging’ included in article
The Debtor must guarantee to the Bank that all mortgage 5 above applies to this pledge.
rights or pledges or other security which the Bank obtains
or should obtain under the Loan, the Deed or the Conditions Article 9: Third-party mortgage
are and remain valid, and that they comply with all
conditions agreed for this purpose. If there is reasonable The following provisions will apply only if the Mortgagor
doubt about the validity or continuing validity of these is a person other than the Debtor:
security rights, the Debtor will establish them anew at a. The Mortgagor is under no circumstances entitled to
his expense. The Debtor is obliged to reimburse the Bank claim reimbursement from the Bank for costs that he
immediately for the costs incurred in this connection by incurs for the benefit of the Collateral.
the Bank. b. The Bank may possibly have or obtain, besides the
security provided by the Mortgagee, other security

Page 5 of 8  General Mortgage Conditions February 2015

 rights (such as pledge, mortgage, suretyship or to the Mortgagor. The Debtor and the Mortgagor are
guarantee). The Mortgagor accepts that, in relation always bound as debtors with joint and several liability
to him, the Bank is completely free to act as though for the full performance of these obligations and
the Bank has never had any other security or been guarantee one another’s performance to the Bank.
entitled to this. The Bank may also give up other j. All obligations to which the Debtor is subject under
securities and may, in the case of foreclosure, itself article 7, paragraph 2 (‘Guaranteeing security’) also
fully determine the order of foreclosure, without the apply to the full extent to the Mortgagor, insofar as
Debtor being able to object to or influence this or these obligations are connected with security which
derive any rights from it. the Mortgagor provides or should provide. The Debtor
c. The Mortgagor hereby accepts that the Bank is and the Mortgagor are always bound as debtors with
completely free in relation to him to permit the joint and several liability for the full performance of these
Debtor to have debts besides the Loan, to alter obligations and guarantee each other’s performance to
the conditions of the Loan or these other debts (e.g. the Bank.
by extending the term, increasing the credit sum
or postponing repayments) or wholly or partly to Article 10: Information and documentation
terminate or restrict the security provided by the
Collateral, without the Debtor being able to object The Debtor may possibly have information of importance
to or influence this or derive any rights from it. to the Bank in connection with:
d. As long as the assets of the Debtor have not been a. the Loan (such as circumstances that would justify a
completely foreclosed, the Bank may refuse payment demand for its early repayment);
by the Mortgagor. If the Bank does this, it does not b. the Collateral;
constitute default by a creditor. c. the (other) security rights of the Bank.
e. Claims which the Mortgagor obtains against the Debtor In such a case, the Debtor will notify the Bank of this as
by way of recourse or subrogation are subordinated to quickly as possible. The Debtor will also provide the Bank
everything which the Bank is or will be entitled to claim with all documents and other data carriers that are or
from the Debtor. The Mortgagor must pledge such claims could be of importance in this connection.
to the Bank. The section entitled ‘Further rules on pledging’
included in article 5 above applies to this pledge. Article 11: Demand for early repayment
f. If the Debtor and the Mortgagor owe the same obligation
to the Bank (e.g. payment of a sum of money), each The Debt will be immediately due and payable, without
of them is jointly and severally liable for the full notice of default, in the following cases:
performance of the obligation. The Bank may claim a. if the Creditor provided insufficient or incorrect data
full performance from each of them. Together the when applying for the Loan, and the Bank, if it had
Debtor and the Mortgagor are obliged to perform the been in possession of the correct information, would
obligation only once, with the result that if one of not have granted the Loan or not granted it on the
them performs the obligation, the other need no agreed conditions;
longer do so. b. if there has been an attributable breach by the Debtor
g. The Debtor and the Mortgagor waive the defences involving failure to perform an obligation under the
to which debtors who are jointly and severally liable Loan, the Deed and/or the Conditions (such as the
are entitled. If the Bank remits the debt or grants a ‘Rules on the Collateral’ in article 4 of the Conditions);
postponement of payment, this will have effect only c. at the end of the term of the Loan;
in relation to the party to whom the remission or d. if some other credit provided by the Bank to the Debtor
postponement is expressly granted. The other party has become due and payable early;
cannot invoke the remission or postponement. e. if the Debtor is declared bankrupt, obtains a suspension
h. The Mortgagor is bound by the legal relationship of payments or debt restructuring arrangement, is made
between the Debtor and the Bank and by the the subject of an administration order or guardianship
provisions applicable to it, including those of the order, or dies;
Loan, the Deed and the Conditions. All these f. if the Collateral or part of it is seized or attached by way
provisions apply, mutatis mutandis, to the legal of protective measure, execution or recovery of
relationship between the Mortgagee and the Bank, possession, or if it is announced that there is to be a
except where this would be contrary to their tenor. public auction thereof;
i. All obligations to which the Debtor is subject under g. if security demanded by the Bank is not provided or
articles 4 and 5 of the Conditions also still apply in full not provided on the agreed conditions or is found to

Page 6 of 8  General Mortgage Conditions February 2015

 be invalid or no longer valid or the Bank is obliged, z. in the event of any other circumstance as a result of
contrary to what has been agreed, to acquiesce in a which the Bank cannot reasonably be expected to
limited right, right attached to a given capacity or continue the Loan on the agreed conditions.
other right against it;
h. if the scope for the use of the Collateral or part thereof Article 12: M
 anagement, vacant possession and
declines and the value decreases as a result; foreclosure
i. whenever the legal status of the Collateral changes in
such a way as to adversely affect the value of the Management
Collateral as security for the Bank; If the Debtor fails to perform his obligations to the Bank
j. if ownership of the Collateral or part of it is transferred to a serious extent, the Bank is entitled to:
or is transmitted by prescription; a. assume the management of all or part of the Collateral
k. if the beneficial ownership of the Collateral or part of it with the authorisation of the president of the District
is transferred or if the Collateral or part of it is encumbered Court;
with an obligation attached to a particular capacity; b. take possession of the Collateral if this is necessary
l. if the Collateral or part of it may not be built upon, for the purposes of foreclosure.
altered or repaired even though this is necessary;
m. if the Collateral is included in a land consolidation Foreclosure sale
scheme, put on a list of monuments and historic The Debtor must fulfil all his obligations promptly, completely
buildings or designated for compulsory purchase and properly. A situation may nonetheless arise in which
(expropriation) or must be renovated or repaired in he fails to meet a claim for which the Collateral serves as
compliance with a government notice; security. In such a case, the Bank is entitled to sell the
n. if the rent payable for the Collateral is reduced; Collateral and recover these claims from the proceeds.
o. if the Collateral consists of a ground lease and/or The following provisions apply in this case:
right of superficies; a. The sale must take place by public auction conducted
p. if the ground rent or other charge that is due is not in the presence of a civil law notary. However, the Bank
paid on time or in the event of any other act of the may request the courts to authorise a sale by private
lessee or holder of the right of superficies that is treaty.
contrary to the conditions of the ground lease or right b. The Bank is entitled to determine the auction conditions
of superficies; (including the time, place and manner of auction) for
q. at the end of the ground lease or right of superficies the sale, to permit viewing of the Collateral, to split
or in the event of any change in the conditions of the the Collateral into apartment rights or to divide it into
ground lease or right of superficies (including any change parts and to establish easements between these
in the rent or other charge); apartment rights or parts.
r. if the Collateral consists of an apartment right; c. The Bank is entitled to arrange for the sale to take place
s. upon termination of the division or any change or addition in parts, to purchase all or part of the Collateral itself and
to the deed of division or the rules; to defer the sale and resume it at a later date.
t. upon the complete or partial demolition of the divided d. The Collateral must be delivered up with vacant
building; possession in any event on the day of the actual
u. if an encumbered real right or right of use lapses, is transfer of title to the Collateral, subject to the rights
changed or ended or if the Debtor’s membership of a of third parties which the Bank must respect according
cooperative is terminated; to peremptory law. The Bank may, however, determine
v. upon the death of the Debtor; that vacant possession must be given at an earlier
w. if the Debtor has a matrimonial community of property date and have the Collateral cleared, even without a
and divorces; court order, on the strength of the execution copy of
x. if the Debtor enters into or changes a marriage contract the Deed.
during the marriage; e. If, contrary to the provisions of the Deed or the
y. where the Debtor is a legal person, professional Conditions, the Collateral has been let, leased or
partnership, civil partnership or other collaborative allowed to be used, vacant possession may be
venture: in the event of winding up, alteration of the obtained in accordance with the statutory rules.
articles of association, change in the composition of the f. The Debtor waives his right to apply to the courts for
partners, shareholders, executive board or management the Collateral to be sold other than by public auction
team or a change in the liability towards creditors; as regulated by law.

Page 7 of 8  General Mortgage Conditions February 2015

g. The Collateral may consist not only of immovable Article 14: Probative value and retention period
property but also of pledged movable property. for records
The Bank hereby stipulates, insofar as this is possible
in law, that it has the power to sell the movable An extract from the Bank’s records serves as complete
property, together with the immovable property, in proof in relation to the Debtor, subject to the production
accordance with the rules applicable to the mortgage. of evidence to the contrary. The Bank need not keep its
h. If the Collateral is unmanaged, the Bank may obtain records for longer than the statutory retention periods.
access to it.
i. If the Bank wrongly arranges for sale or takes related
measures, the Debtor may challenge this in the law
until no later than three days before the sale of the
Collateral. Thereafter, he will be deemed to have agreed
to the sale. This also means that the Debtor can no ABN AMRO Bank N.V., established in Amsterdam and entered in
longer oppose the sale or the transfer of the Collateral the Trade Register of the Amsterdam Chamber of Commerce under
and cannot enforce any claims to compensation. number 34334259
j. The costs of foreclosure, including all costs connected
with the exercise of the rights and powers of the
Bank referred to in this article, will be borne by the
Debtor.

Article 13: Reimbursement of the Bank’s costs

The Debtor must reimburse the Bank for all costs,

including the costs of legal assistance, which the Bank
incurs at law or otherwise:
a. in collecting the Debt;
b. in enforcing or exercising the rights of mortgage
or pledge or other securities which the Bank has
or should have under the Loan, the Deed or the
Conditions or its other rights and powers; or
c. by becoming involved in a seizure, attachment,
dispute or proceedings between the Debtor and a
third party.

Page 8 of 8  General Mortgage Conditions February 2015

abnamro.nl
General Conditions
ABN AMRO Bank N.V.

Consisting of:
General Banking Conditions 2017
Client Relationship Conditions

January 2024
General Banking Conditions 2017

This is a translation of the original Dutch text. This translation Article 1 - Applicability
is furnished for the customer’s convenience only. The original The GBC apply to all products and services and the entire
Dutch text will be binding and will prevail in the case of any relationship between you and us. Rules that apply to a specific
inconsistencies between the Dutch text and the English product or service can be found in the relevant agreement
translation. For the Dutch document “Algemene Voorwaarden or the specific conditions applicable to that agreement.
ABN AMRO Bank NV” go to abnamro.nl/voorwaarden
1. These General Banking Conditions (GBC) contain basic
As a bank, we are aware of our social function. We aim to rules to which we and you must adhere. These rules
be a reliable, service-oriented and transparent bank, which is apply to all products and services that you purchase or
why we, to the best of our ability, seek to take into account shall purchase from us and the entire relationship that
the interests of all our customers, employees, shareholders, you have or will have with us. This concerns your rights
other capital providers and society as a whole. and obligations and ours.
These General Banking Conditions (GBC) have been drawn 2. For the services that we provide, you shall enter into one
up in consultation between the Dutch Banking Association or more agreements with us for services (i.e services
(Nederlandse Vereniging van Banken) and the Consumers’ including also products) that you purchase from us.
Association (Consumentenbond). This took place within If an agreement contains a provision that is contrary to
the framework of the Coordination Group on Self-regulation the GBC, then that provision will prevail above the GBC.
consultation of the Social and Economic Council 3. If you enter into an agreement for a product or service,
(Coördinatiegroep Zelfreguleringsoverleg van de Sociaal- specific conditions may apply to the agreement. These
Economische Raad). Consultations were also held with specific conditions contain rules that apply specifically
the Confederation of Netherlands Industry and Employers to that product or that service.
(VNO-NCW), the Dutch Federation of Small and Medium- An example of specific conditions:
Sized Enterprises (MKB-Nederland), the Dutch Federation You may possibly enter into an agreement to open a
of Agriculture and Horticulture (LTO Nederland) and ONL current account. Specific conditions for payments may
for Entrepreneurs (ONL voor Ondernemers). apply to that agreement.
If the specific conditions contain a provision that is
Notice as of 1-1-2024: contrary to the GBC, then that provision will prevail
The Consumers’ Association has announced that the legal above the GBC. However, if you are a consumer, that
level of consumer protection is now so high that provision may not reduce rights or protection granted
agreements with sector organisations in two-sided to you under the GBC.
(= approved by the Consumers’ Association) general 4. The following also applies:
terms and conditions are no longer necessary. That is why a. You may possibly also use general conditions (for
the Consumers’ Association has terminated its example, if you have a business). In that case, the
connectedness to all two-sided general terms and GBC will apply and not your own general conditions.
conditions as of 1 January 2024. As of this date, the Your own general conditions will only apply if we
Consumers’ Association is no longer engaged in these have agreed that with you in writing.
terms and conditions. This applies not only to this ABV, but b. You may (also) have a relationship with one of
to all approximately sixty two-sided general terms and our foreign branches. This branch may have local
conditions agreed with sector organisations. conditions, for example, because they are better
geared to the applicable laws in that country. If
The GBC will enter into force on 1 March 2017. The Dutch these local conditions contain a provision that is
Banking Association has filed the text with the Registry of contrary to a provision in the GBC or a provision in
the District Court in Amsterdam under number 60/2016 on the Dutch specific conditions, then in that respect
29 August 2016. the local conditions will prevail.

Page 1 of 18 General Conditions ABN AMRO Bank N.V. January 2024

Article 2 - Duty of Care title or other assets that you have deposited with
We have a duty of care. You must act with due care us or through us.
towards us and you may not misuse our services. You must also provide us with all information we need
to determine in which country/countries you are a
1. We must exercise due care when providing our services resident for tax purposes.
and we must thereby take your interests into account 2. You must cooperate with us so that we can verify the
to the best of our ability. We do so in a manner that is information. In using this information, we will always
in accordance with the nature of the services. This adhere to the applicable privacy regulations.
important rule always applies. Other rules in the GBC
or in the agreements related to products or services and Article 4 - Non-public information
the corresponding special conditions cannot alter this. We are not required to use non-public information.
We aim to provide comprehensible products and
services. We also aim to provide comprehensible 1. When providing you with services, we can make use of
information about these products and services and information that you have provided to us. We may also
their risks. make use of, for example, public information. Public
2. You must exercise due care towards us and take our information is information that can be known to everyone,
interests into account to the best of your ability. for example, because this information has been
You must cooperate in allowing us to perform our published in newspapers or is available on the internet.
services correctly and fulfil our obligations. By this, 2. We may have information outside of our relationship with
we mean not only our obligations towards you but you that is not public. You cannot require us to use this in-
also, for example, obligations that, in connection with formation when providing services to you. This information
the services that we provide to you, we have towards could be confidential or price-sensitive information.
supervisory bodies or tax or other (national, international  An example:
or supranational) authorities. If we so request, you It is possible that we possess confidential information
must provide the information and documentation that that a listed company is experiencing financial difficulties
we require for this. If it should be clear to you that we or that it is doing extremely well. We may not use this
need this information or documentation, you shall information when providing investment advice to you.
provide this of your own accord.
You may only use our services or products for their Article 5 - Engaging third parties
intended purposes and you may not misuse them or We are allowed to engage third parties. We are required
cause them to be misused. Misuse constitutes, for to take due care when engaging third parties.
example, criminal offences or activities that are harmful
to us or our reputation or that could damage the 1. In connection with our services, we are allowed to
working and integrity of the financial system. engage third parties and outsource activities. If we do
so in the execution of an agreement with you, this
Article 3 - Activities and objectives does not alter the fact that we are your contact and
We ask you for information to prevent misuse and to contracting party.
assess risks. A few examples:
a. Assets, documents of title, securities or financial
1. Banks play a key role in the national and international instruments may be given in custody to a third party.
financial system. Unfortunately, our services are We may do so in your name or in our own name.
sometimes misused, for instance for money laundering. b. Other parties are also involved in the execution of
We wish to prevent misuse and we also have a legal payment transactions.
obligation to do so. We require information from you for We can also engage third parties in our business
this purpose. This information may also be necessary operations to, for example, enable our systems to
for the assessment of our risks or the proper execution function properly.
of our services. This is why, upon our request, you 2. You may possibly provide us with a power of attorney
must provide us with information about: for one or more specific legal acts. With this power
a. your activities and objectives of attorney, we can execute these legal acts on your
b. why you are purchasing or wish to purchase one behalf. Such legal acts are then binding for you.
of our products or services At least the following will apply with regard to any
c. how you have acquired the funds, documents of powers of attorney that we may receive from you:

Page 2 of 18 General Conditions ABN AMRO Bank N.V. January 2024

 a. If a counterparty is involved in the execution, we may II. civil status and matrimonial or partnership
also act as the counterparty. property regime.
For example:  This information may determine whether you
We have your power of attorney to pledge credit  require mutual consent for certain transactions
balances and other assets that you have entrusted or whether you possess joint property from
to us to ourselves (see Article 24 paragraph 1 of which claims may be recoverable.
the GBC). If we use this power of attorney, we b. Information about business customers:
pledge your credit balances with us to ourselves legal form, registration number with the Trade
on your behalf. Register and/or other registers, registered office,
b. We may also grant the power of attorney to a third VAT number, overview of ownership and control
party. In that case, this third party may make use of the structure.
power of attorney. We are careful in choosing the You are required to cooperate with us so that we can
third party to whom we grant the power of attorney. verify the information. We use this information for,
c. If our business is continued (partially) by another for example, complying with legal obligations or in
party as the result of, for example, a merger or connection with the services that we provide to you.
demerger, this other party may also use the We may also need this information with regard to your
power of attorney. representative. Your representative must provide this
3. We exercise the necessary care when selecting third information to us and cooperate in our verification of this
parties. If you engage or appoint another party yourself, information. This representative may be, for example:
then the consequences of that choice are for your a. a legal representative of a minor (usually the
account. mother or father)
b. an authorised representative
Article 6 - Risk of dispatches c. a director of a legal entity.
Who bears the risk of dispatches?
2. Notification of changes.
1. We may possibly send money or financial instruments We must be notified immediately of any changes to
(such as shares or bonds) upon your instructions. The the information about you and your representative.
risk of loss of or damage to the dispatch is then borne This is important for the performance of our legal
by us. For example, if the dispatch is lost, we will obligations and our services to you.
reimburse you for the value. You may not require a representative for your banking
2. We may also send other goods or documents of title, affairs initially; however, you may require a represen-
such as proof of ownership for certain goods (for tative later on. We must be informed of this immediately.
example, a bill of lading), on your behalf. The risk of loss Consider the following situations, for example:
of and damage to the dispatch is then borne by you. a. your assets and liabilities are placed under
However, if we cause damage through carelessness administration
with the dispatch, then that damage is for our account. b. you are placed under legal constraint
c. you are placed in a debt management scheme, are
Article 7 - Information about you and your representative granted a (temporary) moratorium of payments or
We require information about you and your representative. you are declared bankrupt, or
You are required to notify us of any changes. d. you are, for some reason, unable to perform all
legal acts (unchallengeable) yourself.
1. Information.
We are legally obliged to verify your identity. Upon 3. Storing information.
request, you are to provide us with, among others, We are permitted to record and store information. In
the following information: some cases, we are even required to do so. We may
a. Information about natural persons: also make copies of any documents, for example, a
I. first and last names, date of birth, place of passport, that serve to verify this information for our
residence and citizen’s (service) number. administration. We adhere to the applicable privacy
You must cooperate with the verification of your laws and regulations in this respect.
identity by providing us with a valid identity
document that we deem suitable, such as a
passport.

Page 3 of 18 General Conditions ABN AMRO Bank N.V. January 2024

Article 8 - Signature 2. Changes in the representation.
Why do we require an example of your signature? If the authority of your representative (or his
representative) changes or does not exist or no longer
1. You may have to use your signature to provide consent exists, you must inform us immediately in writing. As
for orders or other acts that you execute with us. long as you have not provided any such notification, we
There are written signatures and electronic signatures. may assume that the authority continues unchanged.
In order to recognise your written signature, we need You may not assume that we have learned that the power
to know what your signature looks like. We may ask of attorney has changed or does not exist or no longer
you to provide an example of your written signature exists, for example, through public registers. After your
and we may provide further instructions in connection notification that the authority of your representative has
with this. You must comply with this. This also applies changed or does not exist or no longer exists, we require
with regard to your representative. some time to update our services. Your representative
2. We will rely on the example of your signature until may have submitted an order shortly before or after this
you inform us that your signature has changed. This notification. If the execution of this order could not
also applies for the signature of your representative. reasonably have been prevented, then you are bound by this.
3. You or your representative may possibly act in different
roles towards us. You can be a customer yourself and 3. Your representative adheres to the same rules as you.
also act as a representative for one or more other You must keep each other informed.
customers. You may have a current account with us as a All rules that apply to you in your relationship with us
customer and also hold a power of attorney from another also apply to your representative. You are responsible
customer to make payments from his current account. for ensuring that your representative adheres to
If you or your representative provides us with an these rules. You and your representative must
example of your signature in one role, this example constantly inform each other fully about everything
is valid for all other roles in which you deal or your that may be important in your relationship with us.
representative deals with us. For example:
Your representative has a bank card that he or she
Article 9 - Representation and power of attorney can use on your behalf. This representative must
You can authorise someone to represent you; however, comply with the same security regulations that you
we may impose rules on such an authorisation. We must must comply with. When we make these regulations
be notified of any changes immediately. You and your known to you, you must communicate these regulati-
representative must keep each other informed. ons to your representative immediately.

1. Representation. Article 10 - Personal data

You can be represented by an authorised representative How do we handle personal data?
or another representative. We may impose rules and
restrictions on representation. For instance, rules 1. We are allowed to process your personal data and that
regarding the form and content of a power of attorney. of your representative. This also applies to data regarding
If your representative acts on your behalf, you are products and services that you purchase from us. Personal
bound by these acts. data provide information about a specific person. This
We are not required to (continue to) deal with your includes, for example, your date of birth, address or
representative. We may refuse to do so, due to, for gender. Processing personal data includes, among others,
example: collecting, storing and using it.
a. an objection against the person who acts as your If we form a group together with other legal entities,
representative (for example, due to misconduct) the data may be exchanged and processed within this
b. doubts about the validity or scope of the authority group. We may also exchange personal data with
to represent you. other parties that we engage for our business operations
Your authorised representative may not grant the or for the execution of our services. By other parties
power of attorney granted to him to a third party, we mean, for example, other parties that we engage to
without our approval. This is important in order to assist with the operation of our systems or to process
prevent, for example, misuse of your account. payment transactions.
We adhere to the applicable laws and regulations and
our own codes of conduct for this.

Page 4 of 18 General Conditions ABN AMRO Bank N.V. January 2024

2. The exchange of data may mean that data enter other You may have given us an order prior to your death.
countries where personal data are less well-protected This may concern a payment order, for example. Until
than in the Netherlands. we receive the written notification of your death, we
Competent authorities in countries where personal may continue to carry out orders that you or your
data are available during or after processing may representative have given. After we have received the
launch an investigation into the data. notification of your death, we still require some time
to update our services. For this reason, orders that
Article 11 - (Video and audio) recordings we were given prior to or shortly after the notification
Do we make video / audio recordings of you? of your death may still (continue to) be executed.
Your estate is bound by these orders, provided their
1. We sometimes make video and/or audio recordings in execution could not reasonably be prevented.
the context of providing our services. You may possibly 2. If we request a certificate of inheritance, the person
appear in a recording. When we make recordings, we who acts on behalf of the estate is required to provide
adhere to the laws and regulations and our codes of us with it. This certificate of inheritance must be drawn
conduct. For example, we make recordings for: up by a Dutch civil-law notary. Depending on the size
a. Sound business operations and quality control. of the estate and other factors, we may consider
 We may, for example, record telephone conver- other documents or information to be sufficient.
sations in order to train our employees. 3. You may have more than one beneficiary. We are not
b. Providing evidence. required to comply with information requests from
We may, for example, make a recording of: individual beneficiaries. For instance, information
I. an order that you give us by telephone; or requests concerning payments via your account.
II. the telephone message with which you notify 4. Relatives may not know where the deceased held
us of the loss or theft of your bank card. accounts. They are then able to acquire information
c. Crime prevention. from the digital counter that banks have collectively
For example: video recordings of cash machines. established on the website of the Dutch Banking
2. If you are entitled to a copy of a video and/or audio Association or another service established for this
recording or a transcript of an audio recording, please purpose.
provide us with the information that will help us to
retrieve the recording, for instance: the location, date Article 14 - Communicating with the customer
and time of the recording. How do we communicate with you?

Article 12 - Continuity of services 1. Different possibilities for communicating with you.

We aim to ensure that our facilities work properly. We can communicate with you in different ways. For
However, breakdowns and disruptions may occur. instance, we can make use of post, telephone, e-mail
or internet banking.
Our services depend on (technical) facilities such as
equipment, computers, software, systems, networks 2. Post.
and the internet. We try to ensure that these facilities You must ensure that we always have the correct
work properly. What can you expect as far as this is address data. We can then send statements, messages,
concerned? Not that there never will be a breakdown or documents and other information to the correct address.
disruption. Unfortunately, this cannot always be prevented. Send us your change of address as soon as possible.
We are not always able to influence this. Sometimes If, due to your own actions, your address is not or no
a (short) disruption of our services may be required longer known to us, we are entitled to conduct a search
for activities such as maintenance. We strive, within for your address or have one conducted, at your
reasonable limits, to avoid breakdowns and disruptions, expense. If your address is not or no longer known to
or to come up with a solution within a reasonable period. us, we are entitled to leave documents, statements
and other information for you at our own address.
Article 13 - Death of a customer These are then deemed to have been received by you.
After your death You may make use of one of our products or services
together with one or several others. Post for joint
1. In the event of your death, we must be notified of this customers is sent to the address that has been indicated.
as soon as possible, for example, by a family member. If joint customers do not or no longer agree on the

Page 5 of 18 General Conditions ABN AMRO Bank N.V. January 2024

 address to which the post should be sent, we may 1. We require information from you for the execution of our
then determine which of their addresses we will send services. If we ask for information, you must provide
the post to. us with it. It could also be the case that we do not
request information but that you should nevertheless
3. Internet banking. understand that we require this information. This infor-
If you make use of internet banking, we can place mation must also be provided.
statements, messages, documents and other infor-  For example:
mation for you in internet banking. You must ensure You have an investment profile for your investments.
that you read those messages as soon as possible. If something changes as a result of which the finan-
In the GBC, internet banking refers to the electronic cial risks become less acceptable for you, you must
environment that we have established for you as a take action to have your investment profile modified.
secure communication channel between you and us. 2. Your orders, notifications and other statements
Internet banking also includes mobile banking and must be on time, clear, complete and accurate.
(other) apps for your banking services or similar For example, if you wish to have a payment executed,
functionalities. you must list the correct number of the account to
which the payment must be made.
4. E-mail. We may impose further rules for your orders, notifi-
We may agree with you that we will send you messages cations or other statements that you submit to us.
by e-mail. In that case, you must ensure that you read You must comply with these additional rules. If, for
such message as soon as possible. example, we stipulate the use of a form or a means
of communication, you are required to use this.
Article 15 - The Dutch language 3. We are not obligated to execute orders that do not
In which language do we communicate with you and comply with our rules. We can refuse or postpone
when is a translation necessary? their execution. We will inform you about this.
In specific cases, we may refuse orders or a requested
1. The communication between you and us takes place service even though all requirements have been
in Dutch. This can be different, if we agree otherwise complied with. This could be the case, for example, if we
with you on this matter. English is often chosen for suspect misuse.
international commercial banking.
2. If you have a document for us that is in a language Article 18 - Evidence and record keeping period of bank
other than Dutch, we may require a translation into records
Dutch. A translation into another language is only Our bank records provide conclusive evidence; however,
permissible if we have agreed to it. The cost of producing you may provide evidence to the contrary.
the translation will be borne by you. The translation
must be performed by: 1. We keep records of the rights and obligations that
a. a translator who is certified in the Netherlands for you have or will have in your relationship with us.
the language of the document, or Stringent legal requirements are set for this. Our
b. someone else whom we consider suitable for this records serve as conclusive evidence in our relation-
purpose. ship with you; however, you may, of course, provide
evidence to the contrary.
Article 16 - Use of means of communication 2. The law prescribes the period for which we must
Care and security during communication. keep our records. Upon expiry of the legal record-
keeping period, we may destroy our records.
In order to prevent anything from going wrong in the
communication process, you should be cautious and Article 19 - Checking information and the execution of
careful with means of communication. This means, orders, reporting errors and previously provided data
for example, that your computer or other equipment is You must check information provided by us and the
equipped with the best possible security against viruses, execution of orders and you must report errors.
harmful software (malware, spyware) and other misuse. Regulations for previously provided data.

Article 17 - Information and orders 1. Checking data and the execution of orders.
Information that we require from you for our services. If you make use of our internet banking, we can

Page 6 of 18 General Conditions ABN AMRO Bank N.V. January 2024

 provide you with our statements by placing them in c. Should a loss or damage arise, you may be
internet banking. By statements, we mean, for example, entitled to compensation, depending on the
confirmations, account statements, bookings or other circumstances.
data. You must check statements that we place in
internet banking for you as soon as possible for errors 3. Information provided earlier.
such as inaccuracies and omissions. In the GBC, You may receive information that we have already
internet banking refers to the electronic environment provided to you again if you so request and your
that we have established for you as a secure commu- request is reasonable. We may charge you for this,
nication channel between you and us. This includes which we will inform you about beforehand. We are
mobile banking and (other) apps for your banking not required to provide you with information that we
services or similar functionalities. have provided earlier if we have a good reason for this.
Check written statements that you have received
from us as soon as possible for errors such as Article 20 - Approval of bank statements
inaccuracies and omissions. The sending date of After a period of 13 months, our statements are deemed
a statement is the date on which this occurred to have been approved by you.
according to our records. This date can be stated on,
for example, a copy of the statement or dispatch list. It may be that you disagree with one of our statements
Check whether we execute your orders correctly and (such as a confirmation, account statement, invoice or
fully. Do this as quickly as possible. The same applies other data). You may, of course, object to the statement,
to any orders that your representative submits on but there are rules that govern this process. If we do not
your behalf. receive an objection from you within 13 months after
such a statement has been made available to you, the
2. Reporting errors and limiting loss or damage. statement will be regarded as approved by you. This means
The following applies in respect of errors that we that you are bound by its content. After 13 months, we
make when executing our services: are only required to correct arithmetical errors. Please
a. If you discover an error (in a statement, for note: this does not mean that you have 13 months
example), you must report this to us immediately. to raise an objection. According to Article 19 of the
This is important because it will then be easier to GBC, you are required to check statements and report
correct the error and loss or damage may possibly inaccuracies and omissions to us immediately. Should
be avoided. Moreover, you are required to take all you fail to do so, then damage may be for your account,
reasonable measures to prevent an error from even if the objection is submitted within 13 months.
resulting in (further) loss or damage.
 For example: Article 21 - Retention and confidentiality requirements
You instructed us to sell 1,000 of your shares and You must take due care with codes, forms and cards.
you notice that we only sold 100. If you would still Suspected misuse must be reported immediately.
like to have your instructions carried out to the
full, then you should notify us of this immediately. 1. You must handle codes, forms, (bank) cards or other
We can then sell the remaining 900. In this way, a tools with due care and adequate security. This will
loss caused by a drop in prices may possibly be enable you to prevent them from falling into the
avoided or limited. wrong hands or being misused by someone.
It may be that you are expecting a statement from 2. A code, form, card or other tool may in fact, fall into
us but do not receive it. Report this to us as soon the wrong hands, or someone may or may be able to
as possible. For example, you are expecting an misuse it. If you know or suspect such is the case,
account statement from us but do not receive it. you must notify us immediately. Your notification will
Then we can still send this statement to you. You help us to prevent (further) misuse.
can check it for any errors. 3. Take into account that we impose additional security
b. If we discover an error, we will try to correct it rules (such as the Uniform Security Rules for Private
as quickly as possible. We do not require your Individuals).
permission for this. If a statement submitted
earlier appears to be incorrect, you will receive a Article 22 - Rates and fees
revised statement. It will reflect the fact that the Fees for our products and services and changes to our
error has been corrected. rates.

Page 7 of 18 General Conditions ABN AMRO Bank N.V. January 2024

1. You are required to pay us a fee for our products the credit entry. These costs will be borne by you. This
and services. This fee may consist of, for example, may, for example, include the costs of the reconversion.
commission, interest and costs.
2. We will inform you about our rates and fees to the Article 24 - Right of pledge on, among others, your credit
extent that this is reasonably possible. We will ensure balances with us
that this information is made readily available to you, You grant us a right of pledge on, among others, your
for example, on our website or in our branches. If, credit balances with us and securities in which you invest
through an obvious error on our part, we have not through us. This right of pledge provides us with security
agreed upon a fee or rate with you, we may charge for the payment of the amounts that you owe us.
you at most a fee according to the rate that we would
charge in similar cases. 1. You are obliged to grant us a right of pledge on assets
3. We may change a rate at any time, unless we have as security for the amounts that you owe us. In this
agreed with you on a fixed fee for a fixed period. Rate regard, the following applies:
changes may occur due to, for example, changes in a. You undertake to pledge the following assets,
market circumstances, changes in your risk profile, including ancillary rights (such as interest), to us:
developments in the money or capital market, I. all (cash) receivables that we owe you (irres-
implementation of laws and regulations or measures pective of how you acquire that receivable)
by our supervisors. If we change our rates based on II. all of the following insofar as we (will) hold or
this provision, we will inform you prior to the rate (will) manage it for you, with or without the
change to the extent that such is reasonably possible. engagement of third parties and whether or not
4. We are permitted to debit our service fee from your in a collective deposit: moveable properties,
account. This debit may result in a debit balance on documents of title, coins, banknotes, shares,
your account. You must then immediately clear the securities and other financial instruments
debit balance by depositing additional funds into your III. all that (will) take the place of the pledged
account. You must take care of this yourself, even if assets (such as an insurance payment for loss
we do not ask you to do so. The debit balance does of or damage to assets pledged to us).
not have to be cleared if we have explicitly agreed This undertaking arises upon the GBC becoming
with you that the debit balance is permitted. applicable.
b. The pledge of assets is to secure payment of all
Article 23 - Conditional credit entries amounts that you owe us or will come to owe
In the event that you expect to receive a payment through to us. It is not relevant how these debts arise.
us, we may then be willing to provide you with an advance The debts could, for example, arise due to a loan,
on this payment. This will be reversed if something goes credit (overdraft), joint and several liability, surety-
wrong with this payment. ship or guarantee.
c. Insofar as possible, you pledge the assets to us.
If we receive an amount for you, then you will receive a This pledge arises upon the GBC becoming
credit entry for this amount with us. Sometimes, we will applicable.
credit the amount already even though we have not yet d. You grant us a power of attorney to pledge these
(definitively) received the amount. In this way, you can assets to ourselves on your behalf and to do this
enjoy access to the funds sooner. We do set the condition repeatedly. Therefore, you do not have to sign
that we will be allowed to reverse the credit entry if we separate deeds of pledge on each occasion. The
do not receive the amount for you or must repay it. Thus following also applies to this power of attorney:
we may have to reverse the payment of a cheque because I. This power of attorney furthermore implies
it turned out to be a forgery or not to be covered by that we may do everything necessary or useful
sufficient funds. If it concerns the payment of a cheque, in connection with the pledge, such as, for
we refer to this condition when making the payment. example, give notice of the pledge on your
When reversing the credit entry, the following rules apply: behalf.
a. If the currency of the credit amount was converted at II. This power of attorney is irrevocable. You
the time of the credit entry, we may reconvert the cannot revoke this power of attorney. This
currency back to the original currency. This takes place power of attorney ends as soon as our relation-
at the exchange rate at the time of the reconversion. ship with you has ended and is completely settled.
b. We may incur costs in connection with the reversion of III. We may grant this power of attorney to a third

Page 8 of 18 General Conditions ABN AMRO Bank N.V. January 2024

 party. This means that the third party may also Article 25 - Set-off
execute the pledge. We can offset the amounts that we owe you and the
For example: amounts that you owe us against one another.
If we form a group together with other legal
entities, we may, for instance, delegate the 1. We may at any time offset all amounts you owe us
execution of the pledge to one of the other against all amounts we owe you. This offsetting
legal entities. means that we “cancel” the amount you owe us
This power of attorney arises upon the GBC against an equal amount of the amount we owe you.
becoming applicable. We may also offset amounts if:
a. the amount you owe us is not due and payable
e. You guarantee to us that you are entitled to b. the amount we owe you is not due and payable
pledge the assets to us. You also guarantee to us c. the amounts to be offset are not in the same
that no other party has any right (of pledge) or currency
claim to these assets, either now or in the future, d. the amount you owe us is conditional.
unless we explicitly agree otherwise with you. 2. If we wish to use this article to offset amounts that
2. In respect of the right of pledge on the assets, the are not due and payable, there is a restriction. We then
following also applies: only make use of our set-off right in the following cases:
a. You can ask us to release one or more pledged a. Someone levies an attachment on the amount we
assets. We will comply with this request if the owe you (for example, your bank account credit
remaining assets to which we retain rights of balance) or in any other manner seeks recovery
pledge provide us with sufficient cover for the from such claim.
amounts that you owe us or will come to owe us. b. Someone obtains a limited right to the amount we
By release, we mean that you may use the assets owe you (for instance, a right of pledge on your
for transactions in the context of the agreed upon bank account credit balance).
services (for example, use of your credit balances c. You transfer the amount we owe you to someone
for making payments). For assets that we keep for else.
you, release means that we return the assets to d. You are declared bankrupt or subject to a (temporary)
you. Other forms of release are possible if we moratorium of payments.
explicitly agree upon this with you. e. You are subject to a legal debt management
b. We may use our right of pledge to obtain payment scheme or another insolvency scheme.
for the amounts that you owe us. This also implies This restriction does not apply if the claims are in
the following: different currencies. In the latter case, we are always
I. If you are in default with regard to the payment permitted to offset.
of the amounts that you owe to us, we may 3. If we proceed to offset in accordance with this article,
sell the pledged assets or have them sold. We we will inform you in advance or otherwise as soon
may then use the proceeds for the payment of as possible thereafter. When making use of our set-off
the amounts that you owe us. You are considered right, we adhere to our duty of care as specified in
to be in default, for example, when you must Article 2 paragraph 1 of the GBC.
pay us an amount due by a specific date and 4. Amounts in different currencies are set off at the
you do not do so. We will not sell or have any exchange rate on the date of set-off.
more of the pledged assets sold than, according
to a reasonable assessment, is required for Article 26 - Collateral
payment of the amounts that you owe us. If we so request, you are required to provide us with
II. If we have a right of pledge on amounts that we collateral as security for the payment of the amounts you
owe you, we may also collect these amounts. owe us This article lists a number of rules that may be
We may then use the payment received for the important with respect to providing collateral.
payment of the amounts that you owe us, as
soon as those payments are due and payable. 1. You undertake to provide us with (additional) collateral
III. If we have used the right of pledge for the as security for the payment of the amounts that you
payment of the amounts that you owe us, we owe us immediately at our request. This collateral
will notify you of this fact as soon as possible. may, for example, be a right of pledge or a mortgage
on one of your assets. The following applies with

Page 9 of 18 General Conditions ABN AMRO Bank N.V. January 2024

 regard to the collateral that you must provide to us: no longer covers all receivables for which it was
a. This collateral serves as security for the payment initially created.
of all amounts that you owe us or will come to 4. If we receive new collateral, existing collateral will
owe us. It is not relevant how these debts arise. continue to exist. This is only different if we make an
These debts could arise due to, for example, a explicit agreement to that effect with you on this. An
loan, credit (overdraft), joint and several liability, example is the case where we mutually agree that
suretyship or guarantee. you should provide new collateral to replace existing
b. You are not required to provide more collateral collateral.
than is reasonably necessary. However, the 5. It may be that we, by virtue of previous general
collateral must always be sufficient to cover the (banking) conditions, already have collateral, rights to
amounts that you owe us or will come to owe us. collateral and set-off rights. This will remain in full
In assessing this, we take into account your risk force in addition to the collateral, rights to collateral
profile, our credit risk with you, the (coverage) and set-off rights that we have by virtue of these GBC.
value of any collateral that we already have, any
change in the assessment of such factors, and all Article 27 - Immediately due and payable
other factors or circumstances for which we can You are required to comply with your obligations. Should
demonstrate that they are relevant for us. you fail to do so, we can declare all amounts that you
c. You must provide the collateral that we require. owe us immediately due and payable.
If, for example, we request a right of pledge on
your inventory, you cannot provide us with a right You are required to promptly, fully and properly comply
of pledge on company assets instead. with your obligations. By obligations, we are not only
d. Providing collateral could also be that you agree referring to the amounts that you owe us, but also other
that a third party, who has obtained or will obtain obligations. An example of the latter is your duty of care
collateral from you, acts as a surety or guarantor under Article 2 paragraph 2 of the GBC. You may never-
for you and is able to take recourse against such. theless possibly be in default with regard to the fulfilment
This agreement also includes that we may stand of an obligation. In that event, the following applies:
surety or act as guarantor for you towards that a. We may then declare all amounts that you owe us
third party and that we are able to take recourse immediately due and payable, including the claims
from the collateral that we will obtain or have arising from an agreement with which you do comply.
obtained from you. We will not exercise this right if the default is of minor
e. If we demand that existing collateral be replaced importance and we will comply with our duty of care
by other collateral, you must comply. as specified in Article 2 paragraph 1 of the GBC.
This undertaking arises upon the GBC becoming For example:
applicable. Suppose you have a current account with us on which,
2. If another bank continues all or part of our business by mutual agreement, you may have a maximum
and as a consequence you become a client of this overdraft of € 500. However, at one point in time your
other bank, there is the issue of whether the other debit balance amounts to € 900. You then have an
bank can make use of our rights of pledge and rights unauthorised debit balance of € 400 on your current
of mortgage for your debt. In the event that no explicit account. If, in addition, you have a mortgage loan
agreement is made at the time of the establishment with us, this deficit is not sufficient reason to demand
of the right of pledge or right of mortgage, the repayment of your mortgage loan. Of course, you
agreement applies that this right of pledge or right of must comply with all of your obligations in connection
mortgage is intended as security not only for us but with the mortgage loan and settle the deficit as soon
for the other bank as well. If the collateral pertains to as possible.
future amounts that you may come to owe us, this b. If we do declare our claims immediately due and
also applies to the future amounts that you may come payable, we will do so by means of a notice. We will
to owe that other bank. tell you why we are doing so in that notice.
3. We can terminate all or part of our rights of pledge
and rights of mortgage at any moment by serving Article 28 - Special costs
notice to this effect. This means, for example, that Which special costs may we charge you?
we can determine that the right of pledge or right of
mortgage does continue to exist but, from now on, 1. We may become involved in a dispute between you

Page 10 of 18 General Conditions ABN AMRO Bank N.V. January 2024

 and a third party involving, for example, an attachment Article 32 - Invalidity or annulability
or legal proceedings. This may cause us to incur costs. What is the result if a provision proves to be invalid?
You are required to fully compensate us for any such In the event that a provision in these GBC is invalid or
costs as we are not a party to the dispute between has been annulled this provision is then invalid. The
you and the other party. Such costs may consist of invalid provision will be replaced by a valid provision that
charges for processing an attachment that a creditor is as similar as possible to the invalid provision. The other
levies on the credit balances that we hold for you. They provisions in the GBC remain in effect.
may also involve the expense of engaging a lawyer.
2. We may also incur other special costs in connection Article 33 - Applicable law
with our relationship. You are required to compensate Principle rule: Dutch law applies to the relationship
us for these costs to the extent that compensation is between you and us.
reasonable. These costs could concern appraisal
costs, advisory fees and costs for extra reports. We Our relationship is governed by the laws of the Nether-
will inform you why the costs are necessary. If there lands. Mandatory law or an agreement with you may
is a legal regime for special costs, it will be applied. result in a different outcome. Mandatory law is the law
from which neither you nor we can depart.
Article 29 - Taxes and levies
Taxes and levies in connection with the providing of our Article 34 - Complaints and disputes
services will be paid by you. How do we resolve disputes between you and us?

Our relationship with you may result in taxes, levies and 1. We would very much like you to be satisfied with the
such. You are required to compensate us for them. They providing of our services. If you are not satisfied, do
may include payments that we must make in connection inform us of this. We will then see if we can offer a
with the services that we provide to you (for example: a suitable solution. Information about the complaints
fee owed to the government when establishing security procedure to be followed can be found on our website
rights). Mandatory law or an agreement with you may and is also available at our offices.
result in some other outcome. Mandatory law is the law 2. Disputes between you and us shall only be brought
from which neither you nor we can depart. before a Dutch Court. This applies when you appeal to
a court as well as when we do so. Exceptions to the
Article 30 - The form of notifications above are:
How can you inform us? a. If mandatory law indicates a different competent
court, this is binding for you and us.
If you want to inform us of something, do so in writing. b. If a foreign court is competent for you, we can
We may indicate that you may or should do this in submit the dispute to that court.
another manner, for example, through internet banking, c. You can refer your dispute with us to the competent
by e-mail or telephone. disputes committees and complaint committees.

Article 31 - Incidents and emergencies Article 35 - Terminating the relationship

You cooperation in response to incidents and emergencies You are authorised to terminate the relationship. We can
or the imminent likelihood of them. do so as well. Termination means that the relationship is
ended and all current agreements are settled as quickly
It may happen that a serious event threatens to disrupt, as possible.
disrupts or has disrupted the providing of our services. One
example is a hacker attack on the banking internet system. 1. You may terminate the relationship between you and
Within reasonable limits, we can ask you to help us continue us. We can do so as well. It is not a condition that you
to provide an undisrupted service and to prevent damage are in default with regard to an obligation in order for
as much as possible. You are required to comply with this. this to occur. When we terminate the relationship, we
However, you must always check that the request is, in adhere to our duty of care as specified in Article 2
fact, coming from us. If in doubt, you should contact us. paragraph 1 of the GBC. Should you inquire as to why
we are terminating the relationship, we will inform
you in that respect.
2. Termination means that the relationship and all

Page 11 of 18 General Conditions ABN AMRO Bank N.V. January 2024

 on-going agreements are terminated. Partial termination
is also possible. In this case, for example, certain
agreements may remain in effect.
3. If there are provisions for the termination of an
agreement, such as a notice period, they shall be
complied with. While the relationship and the
terminated agreements are being settled, all applicable
provisions continue to remain in force.

Article 36 - Transfer of contracts

Your contracts with us can be transferred if we transfer
our business.

We can transfer (a part of) our business to another party.

In that case, we can also transfer the legal relationship
that we have with you under an agreement with you.
Upon the GBC becoming applicable, you agree to
cooperate in this matter in advance. The transfer of the
agreement with you is also called a transfer of contract.
Naturally, you will be informed of the transfer of contract.

Article 37 - Amendments and supplements to the General

Banking Conditions
This article indicates how amendments of and supplements
to the GBC occur.

The GBC can be amended or supplemented. Those

amendments or supplements may be necessary because
of, for example, technical or other developments.
Before amendments or supplements come into effect,
representatives of Dutch consumer and business
organisations will be approached for consultation. During
these consultations, these organisations can express
their opinions on amendments or supplements and about
the manner in which you are informed about them.

Amended of supplemented conditions will be filed with

the Registry of the District Court in Amsterdam and will
not come into effect until two months after the date of
filing.

Page 12 of 18 General Conditions ABN AMRO Bank N.V. January 2024

Client Relationship Conditions

1. Definitions
The following definitions are used in these conditions:

Term Definition
General Conditions of the entirety of the applicable conditions comprising the General Banking Conditions and the Client
ABN AMRO Bank N.V. Relationship Conditions of the bank.
Banking Service service, product, advice or facility (in the widest sense of the word) provided by the bank for the benefit of one or more
of its clients.
Communication notice, statement or other exchange of information.
Communication Channel channel or method by which Communication can take place (e.g. telephone, the Internet, post or verbal contact).
Client’s Electronic Domain secure electronic environment made available by the bank to an individual client for the exchange of Communications
between that client and the bank.
Form standardised paper or electronic document made available by the bank for use in sending a Communication to the bank.
Client Identifier means by which a natural or legal person can identify himself/ herself/itself as a client, or representative of a client,
during an exchange of Communications (examples include passwords, codes, signatures, legal proof of identity, other
data, characteristics and/or procedures, whether or not in combination).
Bank Statement a Communication in which the bank informs the client of transactions, entries and/or other data concerning the client
that are recorded by the bank.
Client Relationship these conditions
Conditions

Terms used in the singular in the Client Relationship If an agreement concerning a Banking Service is
Conditions include the plural and vice versa (unless terminated, the applicable specific conditions will
the context requires otherwise). continue to apply to the winding-up of the relationship.
In so far as provisions may conflict, the provisions of the
2. Applicable conditions applicable specific conditions will take precedence,
The Client Relationship Conditions apply to all existing followed successively by those of the Client Relationship
and future legal relationships between the bank and the Conditions and those of the General Banking Conditions.
client, in so far as not provided otherwise in agreements
and/or in specific conditions. If the relationship between The bank determines through which of its branches or
the bank and the client is terminated, the General Conditions other sales channels it provides Banking Services, and is
of ABN AMRO Bank N.V. will continue to apply to the entitled to set further rules or impose further limitations
winding-up of the relationship. in this regard and to alter them from time to time.

Banking Services are also governed by specific conditions 3. Orders, obligations and performance
applied by the bank for the relevant Banking Service. Unless agreed otherwise, the bank will perform its due
These specific conditions are made available to the client and payable obligations resulting from an order received
in connection with the relevant Banking Service. The from the client within a reasonable period after the client
bank may refuse to provide Banking Services to the client has requested execution of the order. The client may only
and may also attach further conditions to the provision validly retract a notification requesting the bank to execute
thereof. Unless agreed otherwise, the bank may terminate an order with the cooperation of the bank. If the client
Banking Services or alter the specific conditions applicable requests that the bank not execute an order, the bank
to them. will endeavour to prevent execution in so far as can
reasonably be expected of it. If the bank does not
succeed, the execution which nonetheless takes place
will be for the account and risk of the client.

Page 13 of 18 General Conditions ABN AMRO Bank N.V. January 2024

Instructions to debit or credit an account may in any event unless the client makes a payment to the bank and
be carried out by the bank by debiting or crediting, as the specifies which claim he is paying.
case may be, the account with the number stated by the
client, irrespective of whether this number corresponds Currency exchange will be based on the exchange rates
to any other data that may have been supplied by the set by the bank as these apply at the time of the currency
client (such as the name of the account holder). exchange. The bank may convert amounts to be maintained
in a bank account that are not denominated in the currency
The bank is not obliged, in any case, to execute orders of that account into the currency of that account through
or perform other obligations if: currency exchange.
I.  the bank has reasonable grounds for doubting whether,
as a result of such execution or performance, it will be 5. Bank account authorisation
released from a due and payable obligation to which it If the client has issued an otherwise unspecified
is subject (if, for example, it doubts the existence or authorisation in respect of a bank account, the bank is
size of a debt or the identity or capacity of the person entitled to assume that the authorised representative is
requesting payment); and/or in any event fully competent to carry out the following
II. the client must use a particular Client Identifier for the in respect of that account:
purpose of such execution or performance and such I.  make use of the amount available for payment in the
Client Identifier does not function (or does not function account, irrespective of whether it derives from a
properly) or the bank has reasonable grounds for credit balance or a credit facility;
assuming that unauthorised use of this Client Identifier II. take cognizance of all Bank Statements that the bank
is being or may be made. provides in respect of the account, in so far as this is
done through a Communication Channel accessible to
4. Debt position, bank account and currency exchange the authorised representative;
The bank may administer receivables owed by and debts III. give orders for the purchase or sale of securities subject
owed to the client on a current account (bank account) in to the conditions and limits applicable to the client himself.
the client’s name. Crediting of the current account means
that the client acquires a claim against the bank for this 6. Communication channels
amount or that a debt owed by the client to the bank is The client may make use of all Communication Channels
reduced by this amount. Debiting means that the bank made available to him by the bank. A representative of
acquires a claim against the client for this amount or that the client may make use of the same Communication
a debt owed by the bank to the client is reduced by this Channels as the client, except in so far as the client
amount. The bank may rectify incorrect entries. agrees otherwise with the bank. The bank may, at the
request of the client or otherwise, block the use of
The client is not entitled to have a debit balance on his specific Communication Channels by the client or the
bank account, unless he has expressly agreed otherwise representative or impose restrictions on their use.
with the bank in advance. The client must always ensure
that there are sufficient funds in the account to prevent 7. Client
 identification, client identifiers and statement
an unauthorised debit balance occurring as a result of a of agreement
debiting transaction (e.g. due to the execution of an When communicating with the bank in his capacity as
order). If such a debit balance nonetheless occurs, the client (or representative of the client), the client (or his
client must clear this representative) must, at the bank’s request, identify
balance immediately and without notice of default. If the himself to the satisfaction of the bank and enable the
execution of an order will result, or has resulted, in an bank to verify his identity. For this purpose the client
unauthorised debit balance, the bank is entitled to refuse must make use of the Client Identifiers to be designated
to execute the order or reverse its execution. Claims of by the bank, such as legal proof of identity and Client
the client against the bank may not be assigned or Identifiers supplied by the bank. A Client Identifier
pledged to a person other than the bank, except with supplied by the bank can consist of, among other
the prior written consent of the bank. things, a specific manner of client identification facilitated
by the bank or an identifier that the bank has enabled
If the bank has more than one claim against the client, the client to generate (e.g. by choosing a password).
it may itself determine the order in which amounts to be
credited are applied to the settlement of these claims,

Page 14 of 18 General Conditions ABN AMRO Bank N.V. January 2024

Unless agreed otherwise, a Client Identifier supplied by As soon as the bank no longer has a ground for blocking
the bank, including (permanent or temporary) passwords or ithdrawing the Client Identifier, the bank will release
or codes, is strictly personal and may be used only by or replace it at the request of the client.
the person agreed between the client and the bank to
be the user (i.e. the client himself or his representative). 9. Use of forms
The agreed user must never disclose passwords and The client may not make or allow unauthorised use of
codes and must comply with all rules set by the bank personalised Forms that the bank supplies to him (or his
concerning the Client Identifier. Unauthorised use of representative). Unauthorised use of a Form supplied by
a Client Identifier supplied by the bank is in any case the bank is deemed to include any use of the Form by
deemed to include any use of the Client Identifier, a person other than the agreed user himself, irrespective
including (permanent or temporary) passwords and/or of whether this use occurs with the consent of the client.
codes, by a person other than the agreed user himself,
irrespective of whether the use occurs with the client’s 10. Client’s electronic domain
consent. Making or using (or allowing the making or use If use of the Client’s Electronic Domain is agreed between
of) a copy of a Client Identifier or of secret data forming the client and the bank, they may each use the Client’s
part thereof is also not permitted and constitutes Electronic Domain for Communications with each other.
unauthorised use. The following rules will then apply to the use of the
Client’s Electronic Domain:
If a Client Identifier supplied by the bank to the client I. The right to use the Client’s Electronic Domain is
(or his representative) is used for the purpose of a strictly personal. The Client (or his representative), as
Communication, that Communication will be attributed agreed user of the Client’s Electronic Domain, may
to the client. A Client Identifier (e.g. a bank card with only use it himself, subject to the rules prescribed by
PIN) may, if the bank facilitates this, also be used to the bank for this purpose and without the intermediary
place an electronic signature or otherwise express of third parties not permitted by the bank. Any other
consent. An electronic signature has the same legal use of the Client’s Electronic Domain constitutes
consequences as a handwritten signature. The bank unauthorised use, irrespective of whether this other
may refuse to accept forms of electronic signature that use occurs with the consent of the client.
have not been agreed between the client and the bank. II. The client will arrange for the equipment and accessories
needed for the use of the Client’s Electronic Domain
8. Withdrawal and replacement of client identifier himself. In order to open (i.e. log in to) the Client’s
The bank may withdraw and replace a Client Identifier it has Electronic Domain, the client must identify himself
supplied, even if its period of validity has not yet expired. using a Client Identifier designated by the bank. After
The bank may also block or withdraw a Client Identifier it has using the Client’s Electronic Domain, the client will
supplied (or arrange for it to be blocked or withdrawn) if: close (i.e. log out of) the Client’s Electronic Domain.
I. improper use is made of the Client Identifier; Use between the opening and closing of the Client’s
II. the bank has reasonable grounds for assuming that Electronic Domain will count as use by the client and
unauthorised use of the Client Identifier is being or will be fully attributed to the client. As long as the Client’s
may be made; Electronic Domain is open, the client will not leave the
III. a debt owed by the bank to the client or assets held by equipment used for this purpose unattended in order
bank for the client are seized or attached; an application to prevent unauthorised use by other persons.
for or adjudication in bankruptcy, a suspension of III. The client agrees that the bank may supply him with
payments, a statutory debt restructuring or another Bank Statements and/or other Communications by
insolvency arrangement concerning the client is made making them accessible in the Client’s Electronic
or granted; the client is made the subject of a guardian- Domain. As soon as the bank has made a Bank Statement
ship order or the client dies or some other circumstance or other Communication accessible to the client in the
occurs as a result of which the client wholly or partially Client’s Electronic Domain, this Bank Statement or
loses the right to manage or control his assets; Communication will be deemed to have been received
IV. the relationship between the client and the bank is by the client. The client expressly agrees that the bank
terminated; may also use the Client’s Electronic Domain to notify the
V. another reasonable ground exists. client of the text of existing or future versions of the General
Banking Conditions, the Client Relationship Conditions
or other conditions, whether general or specific.

Page 15 of 18 General Conditions ABN AMRO Bank N.V. January 2024

IV. The client may use the Client’s Electronic Domain only will bear the consequences of noncompliance, including
for Communications to the bank if this has been the risk that a Communication is not dealt with by the
agreed upon with the bank for the purpose of the bank or is dealt with only after some delay.
Communication or if he uses a Form made available to
him by the bank within the Client’s Electronic Domain 13. Communication and security obligations of the client
for the purpose of the relevant Communication. In any event, the client (and his representative) has
V. A Communication through the Client’s Electronic the following security obligations to the bank:
Domain has the same legal consequences as a written I. The client will take whatever measures can reasonably
Communication. In the case of Communications to be expected of him to prevent an order or other
the bank, the client may invoke this provision only if Communication being transmitted in his name to the
he observes the rules for Communication through the bank improperly and/or against his will, due to any
Client’s Electronic Domain. cause whatever, and to prevent loss or damage occurring
as a consequence of such a Communication. The
11. Saving
 communications, processing time and proof of client will become familiar and strictly comply with all
communication rules and further usage, security, procedural and other
The client is responsible for saving and/or printing out rules set by the bank with regard to Communication
Communications between him and the bank. If the client and Communication Channels, Client Identifiers,
concludes an agreement electronically with the bank, the Forms or data carriers (and their use).
client will save and/or print out this agreement, together II. The client will deal carefully and securely with
with the accompanying conditions, for future use and the Communications and Communication Channels (including
bank need not therefore keep the agreement accessible the Client’s Electronic Domain), and, in the case of
in electronic form for the client. Communication through the Client’s Electronic Domain
and other electronic Communication, only use suitable,
The client accepts that the bank needs a reasonable secure equipment and software, together with the
period to respond to Communications from the client and most up-to-date security measures, antivirus software
to include up-to-date information in a Bank Statement or and firewalls to prevent viruses, spyware, phishing
other Communication to the client. and other abuse.
III. The client will treat tools such as Client Identifiers and
A copy of a Communication stored by the bank will serve personalised Forms securely and with due care and
as conclusive evidence of that Communication vis-à-vis prevent their unauthorised use, will not disclose
the client, subject to proof to the contrary. (permanent or temporary) Client Identifier passwords
and codes or allow them to be used by unauthorised
12. Further communication rules persons and will not copy Client Identifiers or associated
The bank is entitled to introduce further usage, security, secret data (or allow them to be copied).
procedural and other rules and/or restrictions relating IV. As soon as the client knows or should suspect that a
to Communication and Communication Channels, Client Communication in his name is being or may be trans-
Identifiers, Forms or data carriers (and their use) and mitted to the bank improperly and/or against his will,
to alter them from time to time. These rules/restrictions he will immediately report this to the bank. Such a
may entail that the client must use or not use, as the report must in any event be made as soon as a client
case may be, a particular Communication Channel for knows or should suspect that unauthorised use is or is
a particular Communication and/or must use a Client possibly being made or may be made of a personalised
Identifier, a signature (including an electronic signature), Form or a Client Identifier, or that a Client Identifier
Form, data carrier or other tool designated by the bank password or code is or may be known to, or may be
and/or specify certain data in this connection and comply used by, an unauthorised person, or that a copy has or
with procedures or rules. The bank may also make a has possibly been made of a Client Identifier or asso-
distinction in this connection according to the topic, ciated secret data, or that any other security incident
client category or other factors it deems relevant. has occurred. The client will comply with the further
rules of the bank in this connection and any directions
The client (and his representative) will comply with all of the bank aimed at mitigating loss or damage. The
rules and restrictions of the bank concerning Communication client will also cooperate in clarifying the circumstances
and Communication Channels, Client Identifiers, Forms or and, at the request of the bank, report the incident to
data carriers (and their use). The client accepts that he the authorities.

Page 16 of 18 General Conditions ABN AMRO Bank N.V. January 2024

14. Communication and security obligations of the bank 16. Indirect or consequential loss or damage
In any event, the Bank has the following security Indirect or consequential loss or damage suffered by the
obligations to the client: client will at all times be for his own account and at his
I. The bank will take whatever measures can reasonably own risk and may not be attributed to the bank. However,
be expected of it to prevent it relying on an order or the bank may not invoke this clause in the event of intent
other Communication in the name of the client which is or gross negligence on its part.
transmitted to it improperly and/or against the client’s will.
II. The bank will ensure in the case of Communication 17. Registration and information
through the Client’s Electronic Domain that the Client’s The bank participates in registration systems, such as
Electronic Domain fulfils the security standards that systems for the registration of loans, payment arrears
can reasonably be expected of it, considering – among or fraud.
other things – its intended use.
III. The bank will ensure that Client Identifiers it supplies The client may not invoke against the bank any general
fulfil the security standards that can reasonably be information emanating from the bank that does not
expected of them, considering – among other things – specifically relate to the client. The bank may discontinue
their intended use. the provision of such information at any time.
IV. As soon as the bank receives a report as referred to in
Article 13 (IV), the bank will take appropriate measures 18. Rights, powers and obligations
to prevent (further) unauthorised use in so far as this Agreed rights, powers or obligations do not detract from
is reasonably possible. (statutory or agreed) rights, powers or obligations which
can exist alongside them. Rights or powers may not be
In fulfilling these security obligations the bank is entitled interpreted as obligations.
to assume that the client will properly fulfil his security
obligations as referred to in Article 13. If the bank does not exercise its rights or powers
(temporarily or otherwise), they will remain fully in force
15. Risk allocation and capable of being exercised. If the bank allows the
The risk of loss or damage which occurs because the client (temporarily or otherwise) to refrain from performing
bank relies on an order or other Communication in the his obligations or to infringe a right or power of the bank,
name of the client which is transmitted to the bank the client cannot derive any right or power from this against
improperly or against the client’s will, will be allocated, the bank.
subject to mandatory law, in accordance with the
following rules: 19. Tools
I. If the bank has failed to perform a security or other Aan de cliënt verstrekte hulpmiddelen (bijvoorbeeld
obligation to the client, the loss or damage will be for Formulieren of Klantherkenningsmiddelen) blijven
the account and at the risk of the bank in so far as the eigendom van de bank. De cliënt zal deze op eerste
resulting loss or damage can be attributed to the bank. verzoek van de bank aan haar teruggeven.
II. If the client has failed to perform a security or other
obligation to the bank, the loss or damage will be for 20. Joint client
the account and at the risk of the client in so far as the If two or more clients together obtain a Banking Service
resulting loss or damage can be attributed to the client. from the bank (e.g. a bank account) and they agree with
III. Provided that the bank has performed its security and the bank that this article is applicable, the following will
other obligations, the loss or damage will also be for apply to that Banking Service:
the account and at the risk of the client if: I. Definitions: In this article each of the clients is referred
▶ in the Communication use (or unauthorised use) to as a ‘Joint Client’ and the agreement relating to the
has been made of a Client Identifier supplied by Banking Service as the ‘Agreement’.
the bank to the client (or his representative), a II. Rights of a Joint Client: Whenever the bank is under
personalised paper Form and/or the Client’s an obligation to the Joint Clients to deliver a performance
▶ the bank reasonably could rely on the fact that the with regard to a Banking Service, each of them has an
Communication is proper and has been transmitted independent right to such performance in its entirety.
in keeping with the client’s wishes. However, the bank need perform this obligation only
once, and by performing it in relation to one Joint Client
is thereby released from its obligation to the others.

Page 17 of 18 General Conditions ABN AMRO Bank N.V. January 2024

 As soon as the Agreement ends for one of the Joint 21. Alteration of client relationship conditions
Clients, that Joint Client loses his right to claim any The bank may alter and/or add to the Client Relationship
credit balance of the account and only the Joint Clients Conditions at any time and declare the new version
who continue the Agreement retain their right to such applicable to the client. The bank confirms that any new
balance. version will not take effect in relation to the client for a
However, if the Agreement ends simultaneously for period of at least two months. The client will be bound by
all Joint Clients, each retains his right to payment of the new version at the end of this period, unless the
any credit balance. client has terminated the relationship with the bank no
III. Juristic acts and (other) Communications of Joint later than on that date.
Clients: Each Joint Client may perform all juristic acts
(e.g., giving an order to the bank or an authorisation to
a third party) and exchange all (other) Communications Further Information about the Protection of Personal Data
with the bank in relation to the Banking Service, The bank and other companies forming part of the group to which
independently and irrespective of the cooperation or the bank belongs process the personal data of existing and potential
objection of the other Joint Client(s). The legal clients carefully and in accordance with legislation and regulations
consequences of such juristic acts and Communications as well as codes of conduct binding on the bank for the protection
are binding not only on the Joint Client concerned but of personal data and privacy. The processing is carried out for the
also on the other Joint Clients, even if a debit balance purposes of operational efficiency and effectiveness and focuses
occurs as a result. However, the bank is always entitled particularly on the following activities:
to require the consent of the other Joint Clients, I. assessing and accepting existing and potential clients,entering
before acting upon such juristic acts or Communications. into and performing agreements with existing and potential
A Communication exchanged between the bank and clients and processing payments;
one of the Joint Clients will be deemed to have been II. analysing personal data for statistical and researchpurposes;
exchanged between the bank and each of the Joint III. carrying out general and targeted marketing activities in order
Clients. The Joint Clients will keep each other informed to establish, maintain and/or expand relationships with existing
in so far as is necessary. and potential clients;
IV. Joint and several liability: Whenever the bank is IV. safeguarding the security and integrity of the financial services
entitled to require the Joint Clients to perform an sector, including detecting, identifying, combating and
obligation in relation to a Banking Service (e.g., due to preventing attempted or actual criminal and other undesirable
a debit balance), each of them is jointly and severally acts against the bank, the group to which the bank belongs and
liable for performance of the entire obligation. However, its clients and employees, as well as using and participating in
the Joint Clients need perform this obligation only warning systems;
once, and performance by one of them therefore releases V. complying with statutory requirements;
the other(s) from liability. If the Agreement ends for a VI. managing the relationship with the client.
Joint Client, his joint and several liability will continue
only with respect to obligations that were already in
existence when the Agreement ended for him or that
result from a legal relationship already in existence at
that time. The Joint Clients waive all defences to which
a debtor who is jointly and severally liable is entitled.
V. Settlement
 among Joint Clients: The Joint Clients ABN AMRO Bank N.V., established in Amsterdam and entered in
will, in so far as is necessary, settle among themselves the Trade Register of the Amsterdam Chamber of Commerce under
the consequences of the Agreement and its performance number 34334259
for their mutual relationship.
VI. End/continuation of the Agreement: Each Joint
Client may, notwithstanding the provisions of III
above, terminate the Agreement only in so far as it
relates to himself. In the event of such termination,
the Agreement will continue to exist between the
other Joint Client(s) and the bank, unless the bank
refuses such continuation. The bank may also attach
conditions or limitations to any such continuation.

Page 18 of 18 General Conditions ABN AMRO Bank N.V. January 2024

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(Call charges: for this call you pay your usual call charges
set by your telephone provider.
abnamro.nl