Many people buy a mobile phone on a subscription basis. As of 1 May 2017, the Dutch authorities will consider the mobile phone cost a loan, particularly if it costs more than €250.00. The new law affects only mobile phones bought on or after 1 May 2017.
Loan registered with Dutch credit agency
Starting 1 May 2017, when buying a mobile phone with a value €250.00 or more, the seller must ensure that a loan is registered with the Dutch credit registration agency, BKR (Bureau Krediet Registratie). The BKR registers loans issued by banks and other loan providers to ensure, amongst other things, that companies can validate customer credit-worthiness.
This can have consequences for a mortgage or any other loan you have in mind further down the line. Imagine you have a family of 4 persons and all have a mobile phone, this can – according to experts – mean that you can borrow thousands of euros less. It also means that as of 1 May 2017, you will have to prove that you are credit-worthy when you buy a mobile phone on a subscription basis, that costs more than €250.00.
According to BKR, there are benefits that accrue when your loan is registered with them. E.g., if you pay on time every month, credit providers may deduct that you have a good risk profile and have confidence in prioviding you with more credit.