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Netherlands – Flexible workers to get assistance from Randstad in securing a mortgage

12 December 2013

Two million Dutch workers, nearly 30% of the workforce, have a flexible work contract or works as an independent contractor, known locally as ZZP’ers; but due to the reliance on past work history in getting a mortgage, many of these workers encounter difficulties trying to buy a home.

In January, it will become easier for flexible workers to buy a house with the creation of a trial program launched by recruitment firm Randstad in collaboration with Obvion Hypotheken (Mortgages) and Vereniging Eigen Huis (Homeowners Association). The scheme will initially be open to 1,200 flexible workers from Randstad.

Alje Kuiper, Director of Innovation at Randstad Netherlands, commented: “Whoever wants to attain a mortgage is assessed on the basis of their chances in the labour market, their mobility, flexibility, and their readiness to invest in training. It’s a new way of looking at income security from the perspective of work prospects in the future.”

“We look through the windscreen, not the rear view mirror,” he added.

Eligible flexible workers from Randstad will receive a so-called ‘prospect statement’ and be handled by Obvion, a subsidiary of Rabobank, in the same way as other home buyers with an employer declaration.

Douwe Dijkstra, from Obvion, commented: “The mortgage must naturally fit within the budget of the applicant but that applies to everyone.” 

Johan Marrink, President of ZZP Netherlands, commented: “This is a very good development for flexible workers and independent contractors. It is high time that this group have the same rights as those with permanent contracts. It is also good for the economy if, in a responsible manner, more mortgages can be sold.”

Hans Andre de la Porte, of Homeowners Association, added: “For permanent employees wanting a mortgage, it is enough to provide a statement form their employer. Flexible workers must demonstrate that they have had a pretty steady income for the last three years. That is difficult in the current job market.”

He expects that more mortgage lenders will follow suit should the trial prove successful. “[Flexible workers] have steady incomes and future prospects, but fail to meet the strict rules. The problem is that there are too many who look at the numbers and too few looking at the people. That changes with the prospect statement.”

Mr Dijkstra concluded: “If this works, we will decide in October next year if we are going wider into the market and whether or not to include other flexible workers, such as temporary workers.”


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Marios Paras13/12/2013 4:17 am

I pressure in Holland it must be an innovation!
I just wanted to remind the writer that Vedior and before that Bis operated such a schema, since nearly 20 years ago, perhaps not in an complex approach as described above- further Vedior Luxembourg as well as Tempo-Team now Randstad also operated a similar scheme and not only facilitated the process of obtaining bank accounts, credit cards, and had a joined initiative for an on line bank account facilitation with a Dutch Bank! surely you do not need a director of innovation for such a societal contribution of equal opportunities for the ''flexible workers'' it is more about equal opportunities in the labour market and more recognition of the sector real contributors the fly worker because without them it will not be possible. So ''fidelisation'' is not an innovation in my opinion. The paradox is that some financial institutions support/recommend the share of quoted staffing organisations, but are not prepared to provide mortgages or other financial products. Perhaps they need an Innovation Director to remind them their societal obligations! in a crisis stricken world created by them, Their values, their ethics. Although Randstad initiative allows 1.200 only of their work force because presume this number is the one that may have more or less a guaranteed employment, the bitter truth is that if you have no work it does not matter what skills you have and what is your mobility or training, or if you are out of work and you can not pay your mortgage what are the consequences.

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