ABN AMRO customers are allowed to make repayments on their mortgage loan, without penalty charges, up to the assessed market value of their property. This option is available to all customers who are ‘under water’ on their mortgage loan and is not restricted to gifts.
About 25% of ABN AMRO’s mortgage customers are currently ‘under water’, and have a negative home equity position. Extra repayments will bring the outstanding loan amount more into line with the value of their home, and reduce or even eliminate the risk of negative home equity.
This extra repayment option is available from 1 November.