You can always sell your property, pay your debt, and take out a new mortgage. If your financial situation has remained the same or improved, it will be easier to get approval for a new mortgage. If your house’s value increased in the last couple of years, you have more equity now. As soon as you sell your home, you will earn money from it, used for a new mortgage.

If you want to keep your current property, you could consider refinancing the current mortgage. In some cases, you may end up paying a penalty fee. The early repayment fee depends on the difference between your interest rate and the bank’s current interest rates.

You can sell your home before the mortgage term ends. The bank wants you to repay the mortgage debt without future interest payments. There is no penalty involved if you sell a property in the Netherlands.

The moment you sell the property, you visit the notary to take care of the legal deeds. They also handle the administration and registration of real estate ownership and mortgage registrations.

When selling a home, the mortgage lender sends the notary a repayment invoice. If the sale's outcome is favorable for you, so selling price minus the mortgage debt, the notary transfers the amount to your account.