Increasing your mortgage for renovation

Why should you think about moving, when you could also make your current house bigger, more cosy or more energy efficient? Renovation will of course cost you money, and you could choose to use your savings for this. If you don't have sufficient savings, or when you do not want to you use your savings for this purpose, it's good to find out whether it's possible to increase your current mortage. Below you'll read more.

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Toni van der Flier

Mortgage Advisor

Financing a renovation

We understand you're curious how financing a renovation works.

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How does it work to apply for a mortgage for renovation?

You could choose to keep the mortgage with your current mortgage provider, or you could choose to refinance with another mortgage provider. Below you'll read more about these three options:

Increasing the mortgage without going to the notary

If there is a higher amount registered in your notary contract, you can increase your mortgage without going to the notary. This means you save on notary fees! Using this option means the interest rate for your current mortgage rate will remain unchanged, and for the extra part you'll get the interest rate of today.

Second mortgage

If the current notary contract does not contain a higher amount, you can apply for a second mortgage. A second mortgage means you'll have to visit the notary again, meaning you'll have to pay a notary fee. Using this option also means the interest rate for your current mortgage rate will remain unchanged, and for the extra part you'll get the interest rate of today.

Refinancing your current mortgage

It's also possible to refinance and switch your mortgage to another mortgage provider. In this process, you can choose to increase the amount you refinance, to finance the renovation. By doing this, the full mortgage will get the interest rate of today.

Is it always a good idea to finance the renovation by increasing the mortgage?

When you're going to finance the renovation by increasing your mortgage, there will always be costs involved. Your monthly amount will increase, and you pay some additional fees when closing the mortgage. This is for example the fee you pay to a mortgage advisor, a notary, and someone to do a valuation. We recommend you therefore to consult a mortgage advisor to check whether this is a good idea and whether you can afford the extra monthly amount and the additional fees. You might have suffcient savings, or you might choose to wait a little bit untill you have saved enough. It can also be interesting to take out a personal loan instead of a mortgage. We of course gladly help you in calculating what the smartest choice is.

Am I eligible for tax deduction when I increase my mortgage for renovation?

When you pay back the mortgage within 30 years, either by an annuity mortgage or with a linear mortgage, the interest is tax deductible. You normally receive this tax benefit once a year when you file your tax report. You can also choose to file a preliminary tax report, which means the tax authority will prepay you a monthly amount as tax benefit.

Increase your mortgage in five steps

We explain you in five comprehensive steps how financing a renovation works

Schedule a call

Considering your options


Advisory call


Starting the mortgage application


Signing the offer


Let the renovation begin!


You might have additional questions about financing a renovation

What additional fees do I have to take into account?

Is it possible to finance the additional fees from the mortgage?

What interest rate do I pay for my additional mortgage?

What if my renovation turns out to be more expensive than expected?