If you own your own home
If you own your own house, static caravan or house boat in the Netherlands, you may still be able to get an AIO supplement in the form of an interest-free loan. For the interest-free loan, we look at how much equity you have in your house, static caravan or house boat.
What is equity and when can you get an interest-free loan?
Equity is the amount that is left after you subtract the remaining amount of your mortgage from the official valuation of your house (WOZ value in the Netherlands).
If the equity is less than €63,900, you can get an AIO supplement.
If the equity is €63,900 or more, you can get an AIO supplement in the form of an interest-free loan.
Example
| WOZ value | €250,000 |
|---|---|
| less: remaining amount of mortgage | €160,000 |
| equity | €90,000 |
If you can get a second mortgage from your bank or mortgage provider based on the value of your equity, you can use it to pay your costs of living. In that case you will not get an AIO supplement.
If you cannot get a second mortgage, you may be able to get an AIO supplement in the form of an interest-free loan. If you apply for an AIO supplement, we can see whether you own your own home. Information about the interest-free loan will then be sent to you automatically.
To get an interest-free loan, the equity on your own home must be €63,900 or more. This amount is the ‘exemption for assets’. This amount usually changes every year on 1 January and 1 July.
Example: you live alone and your AOW pension is €535 per month. The full AIO amount for a person who lives alone is €1,426 per month. This means that you can get an interest-free loan of €891 per month.
The duration of the loan is €26,100 divided by €891 = 29 months. This is 2 year(s) and 5 month(s).
Example
| WOZ value | €250,000 |
|---|---|
| less: remaining amount of mortgage | €160,000 |
| equity (asset value of the house) | €90,000 |
| less: exemption for assets | €63,900 |
| your interest-free loan | €26,100 |
If the amount of the loan is more than €5,000, we need to be sure that you will pay it back. You must therefore have a loan agreement drawn up by a solicitor.
You will have to pay the costs for this yourself. If you cannot pay them, we can advance you the money. This extra amount will then be added to the interest-free loan.
If a person dies before they have finished repaying a loan, we will ask the heirs to repay the rest of the loan.