Frequently asked questions

» How do I change my direct debit number?

Many banks allow you to change your bank account number online. If your bank does not offer this option, you can make use of a change form. The forms for these banks can be found on our website. We can only handle forms that have been fully completed. Make sure you always enclose a copy of your ID and a recent bank account statement. 

» Can I change the collection date?

Unfortunately, you cannot change the collection date. The date on which the direct debit will be collected is determined by your mortgage provider. 

» How do I pay my arrears amount?

You can deposit your payment into your mortgage provider’s bank account, stating your mortgage number. Every mortgage provider has its own bank account number. View the list of payment details that applies for your mortgage provider here.

» What is my current arrears amount?

You can request the current amount of your arrears from us. To do so, please contact us on telephone number +31 (0) 33 422 9411 or by email via info@hypocasso.nl.

 

» Am I allowed to temporarily rent out my residence?

Since tenants in the Netherlands are well protected by law, it is more difficult to sell a residence that is rented out than one that is not. Therefore, the conditions of your mortgage specify that you are always held to obtain prior written permission before you will be allowed to rent out your home. The mortgage provider will make its decision based on a risk assessment.

Should you decide to rent out your residence without permission, you will be in default with the agreement you entered into. This can lead to adverse consequences. If you have any questions on this subject, please contact us. We will be happy to help you.

» I have NHG. What to do?

A mortgage covered by the National Mortgage Guarantee (NHG) will have complied with the standards for responsible lending at the time it was taken out. Nevertheless, it is possible that certain unexpected situations have occurred resulting in you (temporarily) being unable to pay your monthly mortgage costs. In that case, the NGH offers a safety net to help you with your payment problems.

Should this be the case, NHG will work with you and your mortgage provider to see what can be done to make your mortgage affordable again. For instance, NHG has a Cost of Living Facility that is intended as a bridge loan for temporary, financially challenging situations as a result of unemployment, an incapacity to work, termination of your relationship or after the death of your partner. This could mean you will be able to keep your home and prevent a sale with loss. Should selling the residence ultimately be the only option left and if the proceeds of your home turn out to be lower than the outstanding mortgage, the NHG can waive the residual debt. If you are interested in making use of the safety net that NHG offers, please contact us on telephone number +31 (0) 33 422 9411. Another option is to contact NHG directly. More information about this option can be found here.

 

» What do I need to do if my partner or a member of my family dies?

As next of kin, there are a lot of matters that you will need to deal with when you are faced with the death of a loved one. For instance, it is important that the decease is reported to your mortgage provider. In that case, we advise you to call us. We will be happy to help you. 

 

Many mortgage providers have a survivor’s desk to help you handle matters concerning your mortgage with care, such as a change in the registrant’s name or the bank account number for the direct debit.

 

If you have a mortgage covered by the National Mortgage Guarantee (NHG) you will be able to apply for the Cost of Living Facility (WLF) in case of a death, which will help you to bridge any payment problems that might occur. If you do not wish or are not able to keep the residence, the NGH could possibly waive the residual debt should this occur as a result of the sale of the residence.

» Is there an option to postpone payment?

In case of temporary financial problems, it is sometimes possible to postpone payment. 

 

There can be consequences for your income tax by postponing payment of your mortgage interest. After all, any mortgage interest that is not paid, cannot be deducted. If you have taken out a linear or an annuity-based mortgage or if you have increased your mortgage after 31 December 2012, you might not be permitted to deduct the mortgage interest from your income for the entire duration of the mortgage, should the arrears be too high. Therefore, it is advisable to carefully consider the consequences before applying for postponement of payment. 

 

To find out whether you are eligible for postponement and what the consequences would be, please contact us on telephone number +31 (0) 33 422 9411. 

 

» How can I make an arrangement for payment?

For this, we suggest you contact us. Please call us on telephone number +31 (0) 33 422 9411. We will be happy to look into the options for a suitable payment arrangement together with you. 

 

A payment arrangement is a good solution if the financial problems are temporary. For instance, if your income is temporarily lower or if your expenses are temporarily higher. In order to get a good idea of your financial options, we could ask you to provide us with an overview of your income and expenses.

» What if I can’t comply with my payment obligations?

In that case, we advise you to immediately get in touch with us on telephone number +31 (0) 33 422 9411. In hindsight, the payment arrangement that was made with you might not be suitable for your situation anymore. For instance, because your situation has changed. Should this be the case, we will be happy to look for a solution that is feasible. 

 

If you have a mortgage that is covered by the National Mortgage Guarantee (NHG), you could, under certain circumstances, be eligible for the Cost of Living Facility (WLF) to bridge any payment problems you might have. 

 

Should your disposable income prove to be structurally too low for a payment arrangement, the best option will probably be to sell your residence. In this case, we can assist you as well. If you have NHG, you could be eligible for a waiver if a residual debt occurs as a result of the sale of the residence. 

» Why have costs been charged?

Your mortgage provider is allowed to charge costs if you are behind on your mortgage payments. For instance, your mortgage provider will charge costs for unpaid default interest or penalty interest. This extra amount will be deducted simultaneously with the mortgage payment of the following month.

 

Your mortgage provider can also charge collection costs. We can tell you the exact amount of your arrears and which costs have been charged. We can also help you to solve your arrears as quickly as possible to prevent these costs from being charged. To do so, please contact us on telephone number +31 (0) 33 422 9411. 

» What is the rate for my penalty interest?

The penalty interest varies per mortgage provider. Some mortgage providers apply the legal interest rate. Other mortgage providers apply a contractual interest rate that is stated in your mortgage contract. For more information, please contact us on telephone number +31 (0) 33 422 9411. 

» What is an attachment of earnings and how can I prevent it?

If you are unable to meet your financial obligations, we will try to find a solution for this together with you. If any agreements that are made are consistently not met, or if we are unable to contact you in any way, it is possible that (a part of) your income is attached. This entails that, on behalf of your mortgage provider, a bailiff will withhold (a part of) your income via your employer or benefits agency. Your employer or benefits agency is obliged to cooperate. It is important to know that this involves costs and that you could have significantly less to spend. 

 

We always advise you to remain in contact with us to prevent an attachment of your earnings. If you are unable to resolve this yourself, please do not hesitate to ask for help. Make sure to contact us as soon as possible on telephone number + 31 (0) 33 422 9411. 

» What should I do if a creditor seizes my home?

In that case, we advise you to contact us as soon as possible on telephone number +31 (0) 33 422 9411. Together, we will look for the best possible solution for your situation. 

 

If someone has a debt that is not paid back, a creditor can decide to collect this debt by seizing the residence. This seizure is conducted by a bailiff. In an official report, the bailiff will describe, among other things, when the seizure will take place, to whom it will apply, upon whose request it will be conducted, under which title the seizure is permitted and what exactly will be seized. 

 

Subsequently, this official report needs to be registered in the public registers (the cadastre). A copy of the official report must have been delivered to you no later than three days after registration. The mortgage provider will be informed within 4 days after the seizure has been registered. 

 

Eventually the creditor could decide to start a sale under execution. The proceeds arising from this auction will be used to pay off the mortgage first, the remainder will be used for the outstanding debt. Any remainder that is left will be for you. Because the proceeds of a sale under execution are usually low, these proceedings will usually result in a residual debt.

 

» What is a power of attorney?

In some cases, the only way to solve your financial problems will be to sell the residence. Your mortgage provider is entitled to sell the residence by public auction. This is also referred to as a sale under execution. The proceeds of a sale under execution are generally lower than if a house is sold through a regular sales process. Since we aim to keep the residual debt in case of a sale as low as possible, you can direct Hypocasso to sell your residence via a regular sales process. This will result in higher proceeds. The employees at Hypocasso are experienced and trained to support and assist you as much as possible during the sale of your home. They will ensure that your residence is promoted amongst potential buyers in the best way possible. 

 

If Hypocasso is directed to sell the residence, you will need to grant Hypocasso a power of attorney. This will state, among other things, what the lowest acceptable price is that the residence is allowed to be sold for. You can arrange a power of attorney through a notary. The costs involved for this will be advanced by Hypocasso. 

» I want to sell my house, but I expect to be left with a residual debt. What now?

Sometimes if a house is sold, the proceeds will not be enough to fully cover the mortgage debt. In that case, you will be left with a residual debt. 

 

We advise you to contact us before the buyer of your house has signed the purchase agreement. You can reach us on telephone number + 31 (0) 33 422 9411. We will be happy to discuss with you what the best solution would be in your situation.

» How do I pay back my residual debt?

If after the sale of your residence, you prove to be left with a residual debt, we will look for the best way for you to pay back the residual debt. In most cases, a payment plan will be drawn up. Contact us on telephone number +31 (0) 33 422 9411 to make arrangements. If you fill out an income and expense form we will be able to see how much you will be able to repay per month.

» I have a complaint about Hypocasso. Who can I send this to?

We regret hearing that you have a complaint about us. You may expect us to handle your situation properly and with the utmost care. Therefore, we certainly take complaints seriously. You can submit your complaint by using the contact form, upon receipt of which we will contact you as soon as possible. If you are not satisfied with our response, you can report your complaint to the Dutch Financial Services Complaints Authority (Kifid). In the case of a complaint, the Kifid will act as an intermediary.