To apply for a mortgage for a house, you need to have it appraised. Without a valuation report, you cannot get an NHG mortgage. There are 2 types of appraisals available. A validated valuation and an unvalidated valuation. For a mortgage application, a validated valuation report is required. For a valuation, or when objecting to a WOZ assessment, an unvalidated valuation is sufficient. An unvalidated report also suffices in other situations. A validated valuation is usually validated by the Dutch Housing Valuation Institute (NWWI). All lenders in the Netherlands accept an NWWI valuation report.
Strict quality requirements by NWWI for property valuation
Only valuers who meet strict quality requirements are affiliated with the NWWI. Through continuous monitoring of appraisals and valuers, the quality of a NWWI valuation is guaranteed. All lenders in the Netherlands accept a valuation report validated by the NWWI, and most lenders even require a valuation report validated by the NWWI for non-NHG financing.
What is the NWWI?
The NWWI was established to offer lenders, intermediaries and consumers greater certainty about how the value of homes has been determined, to help prevent valuation fraud. The Nederlands Woning Waarde Instituut, the NWWI, validates (approves) valuation reports of homes of affiliated valuers and ensures that each valuation is drawn up uniformly and according to clear guidelines.
What are the values of the NWWI?
The NWWI stands for high-quality and objective valuations. All appraisers work in a uniform, digital manner. Only valuers who meet strict quality requirements are affiliated with the NWWI. This continuous monitoring of appraisals and valuers guarantees the quality of a NWWI valuation.
Do all mortgage lenders accept NWWI validation reports?
Yes, all lenders in the Netherlands accept a valuation report validated by the NWWI. Virtually all lenders now require a valuation report validated by the NWWI even for non-NHG financing.
When do you need an NWWI appraisal report?
The WEW (administrator of the NHG) has established that a valuation report for financing an NHG mortgage may only be accepted if it has been ‘validated’ by one of the institutions recognised by the WEW. Validation means checking whether the appraiser and the appraisal report meet the strict quality requirements as prescribed by the WEW.
Why is an NWWI appraisal report important?
An appraisal report is important risk management tool for you and for the lender. Correct and complete substantiation of an appraised value of your property is important for all concerned. Validating your appraisal report ensures the correct substantiation of the value and risks.
As a consumer, the NWWI gives you insight into how the value of your home has been determined. The appraisal report includes an extensive substantiation and explanation by the appraiser, as well as 6 relevant photos of the home and various model values that guarantee a higher quality of the appraisal report. The NWWI is a non-profit foundation and does not distribute assignments to appraisers because you choose them yourself.
NWWI validation report and its values
- The NWWI is a non-profit foundation;
- If a predetermined desired value is stated, which conflicts with EVS regulations, the NWWI will report this to lenders;
NWWI notifies lenders of any conflicts of interest found;
- The NWWI contributes to the prevention and detection of fraudulent valuation reports and is discussion partner in fraud projects from, among others, the Ministry of Justice;
- The NWWI wants to contribute to better positioning and image of the appraiser in the financial world;
- The NWWI does not make price agreements and does not award assignments to appraisers.
How do NWWI property validations work?
The appraiser works within a set working area of up to 20 kilometres around your home. When you have indicated to the appraiser that you specifically need a NWWI appraisal report, the appraiser will accept the appraisal assignment and then indicate to the NWWI which property will be appraised.