Temporary workers in the Netherlands will have easier access to a mortgage as of January

From next year, temporary workers in the Netherlands will have easier access to applying for a mortgage. Currently, temporary workers have to work at the same employment agency for at least 52 weeks before being considered for a mortgage. From January 1, that period will be shortened to 26 weeks, the trade association for intermediaries, NBBU, announced.

Employment agencies will now be able to give temporary workers a “perspective statement” - which indicates the temporary worker’s earning capacity and prospects on the labor market - after 26 weeks instead of 52 weeks. The temporary worker in question must have worked for at least 12 of the past 14 months to qualify.

“It’s great that even more temporary workers can now have their own home. In this way, our sector contributes to more security for a very large group of workers,” NBBU director Marco Bastian said.

He added that a perspective statement is not a guarantee for a mortgage - banks also consider other things when deciding whether to approve a loan. But the shortened period will give many more temporary workers access to at least applying for a mortgage and buying their own home.

“Access to a mortgage for temporary workers is an important step in promoting their financial prospects and well-being,’ said Jurrien Koops, director of the General Association for Temporary Employment Agencies (ABU). “The relaxation of the Perspective Statement is a positive development that opens doors for significantly more people to apply for a mortgage.”

The perspective statement was introduced in 2013. According to the NBBU, almost all banks and insurers accept the statement as a fully-fledged alternative to the regular employer’s declaration.

Since 2013, over 16,000 temporary workers have requested a perspective statement, and two-thirds of those requests were granted. Over half of the issued statements resulted in a mortgage, the NBBU said.