CHF normen

The liaison committee for mortgage credit institutions CHF (Contactorgaan Hypothecair Financiers) is the umbrella organisation under which mortgage lenders (banks, insurance companies, pension funds) have standardised their rules of conduct. The CHF was founded in 1990 by the Netherlands Banker’s Association NVB, the insurers’ alliance Verbond van Verzekeraars, the sector pension funds association Vereniging van Bedrijfstakpensioenfondsen and Bouwfonds Hypotheken B.V., with the NVB handling all secretarial work. The CHF’s mission is among other things to monitor compliance with the code of conduct.

In agreement with all national organizations in the real estate appraisal sector, the liaison committee for mortgage credit institutions CHF has drawn up an appraisal report model. This model is compulsory for all financing institutions affiliated with the CHF. In practice this means that all banks in the Netherlands will accept only this model. To complete the report, the appraiser has to retrieve and verify a great many details from and with the local authorities: cadastral information, information pertaining to private law, and planning, environmental and fire safety information.

As of January 2001 the new appraisal report model is required for the financing of a house. This so-called housing finance appraisal report is compulsory for nearly all mortgage banks and life insurance companies. It is to be drawn up by a registered real estate agent or appraiser who is affiliated with the LMV, NVM, VBO or RVT associations or registered with NRVT.

For housing finance backed by the national mortgage guarantee scheme Nationale Hypotheek Garantie (NHG) this same appraisal report model “Financiering Woonruimte” (Housing Finance) is sufficient.