Homebuyers with a ‘free’ smartphone thousands of euro’s can get less mortgage loan because the phone contract is seen as a hire purchase agreement.
crediting
the Hypotheekshop, one of the largest chains advice, cautions that a decision by the Ministry of Finance in order to protect consumers against excessive lending, has major implications for those who want to buy a house. Who will pay € 15 per month for his phone, can get the current rate € 4,000 less mortgage. With a monthly payment of € 25 is already at € 7,000.
This effect occurs at all income levels, shall, on request the Hypotheekshop. Only the level of interest has slight effect: the higher the rate, the smaller the effect
Toleration of unofficial
Many telecom companies offer subscriptions where a brand new phone is included. Basically it is a type of loan, but until now was tolerated that the sector outside the special rules for this was said Minister Jeroen Dijsselbloem of Finance last week in a letter
Bedoeling was to arrange with an industry-wide code of conduct that could continue. But because the industry has failed to establish a code that meets in the eyes of the Ministry of European rules regarding consumer credit and also the Competition Dijsselbloem will put an end to the tolerance. There is now a “free” phone just a loan.
Effects
Hypotheekshop subsequently to affiliated advisory firms in the weekly newsletter for calculated what the consequences are. Incidentally, this story does not apply to SIM-only subscriptions.
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