NHG as credit protection

NHG as credit protection

The NHG product has been changed in order to comply with the standard conditions laid down for a guarantee to qualify as permissible credit protection for banks (Capital Requirements Regulation: CRR).

At the request of NHG, NautaDutilh has confirmed in a memo that the changed NHG product meets these conditions. The change means that the NHG product is deemed to be suitable for banks as permissible credit protection in line with these conditions. This change has been assessed by De Nederlandsche Bank (DNB) against the current CRR on the basis of the memo by NautaDutilh.

Read here the memo that was presented to DNB.

Change to NHG product
NHG offers lenders the option of receiving payment of the expected loss if the dwelling has not been sold within 21 months of default, and the default still applies. This option is available for new and current loans with NHG. Payment of the expected loss does not affect NHG’s suretyship, but will be offset by NHG against payment under the suretyship, as payment of the ultimate loss following the sale.

The option of receiving payment of the expected loss has been introduced in the Conditions & Norms 2020-2, published on 31 March 2020. Lenders may avail themselves of this option immediately after publication, under the comprehensive scheme laid down in the Conditions & Norms.

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