The number of loans in the Netherlands is increasing, among other things for refinancing and cars. On average, how much do we borrow and who borrows the most money?
Dutch people often take out a loan
Last year, consumer credit was taken out more often than the year before. According to Good market researchers, the number of loans increased by a quarter in 2017. Currently, 18% of households in the Netherlands have one or more current consumer loans.
An increase in the number of loans was also reported in 2016.
The average loan amount is falling
It is striking that the average amount that is borrowed is falling. The Dutch borrow an average of € 14,817 per household. This is 19% less than a year earlier. This brings the total amount that is currently on loan in the Netherlands to around 15.4 billion euros.
Most often borrowed for rescheduling
Last year, the Dutch most often borrowed money to refinance existing loans (33.6%). Transferring a loan is interesting because of the low borrowing rate at the moment. A number of lenders also offer a longer term, which means that monthly payments fall considerably.
In addition, refinancing offers the opportunity to get rid of expensive forms of borrowing, such as red card and payment cards.
What else do we borrow for?
The Good study shows the following things for which money is regularly borrowed:
- The purchase of a car (16%).
- Renovation of the home (16%).
- A new kitchen or furniture (9%).
Who often borrows money?
Single people borrow the most money. The need for consumer credit is particularly high in the 31-40 age group. They are at the beginning of their career and have often not saved much. We face them with a number of major expenses for cars and housing.
More loans for home purchase
The market research agency expects the number of loans in the Netherlands to grow further. In 2018, the maximum mortgage is equal to the home value. Whoever buys a home must therefore fully pay the costs of the buyer. It is expected that a consumer credit will be taken out for this more often in the future.