Dutch guarantee scheme

Iafh

Hello, I have a mortgage with ING, and am also considering moving my savings there as they offer good rates. However, I'm concerned about what might happen in the (admittedly unlikely) event that ING go bust. I understand that my savings are protected up to €100,000 and that my mortgage would probably be transferred to the administrator. But there is a passage in the Dutch Deposit Guarantee scheme which I don't understand - about a "set-off" taking place, with the mortgage being reduced by the savings and "if a positive deposit balance remains" (positive to whom?) you can claim that amount. Can anyone help? I am a new poster, so cannot paste the link, but if you google "deposit guarantee scheme holland" it is the second link, starting dnb.nl.

Many thanks.

Fruit_and_Nut_Case

Iafh wrote: »

I am a new poster

I guessed that even before looking at your post count.

Welcome. You have posted this question on the Credit Card Stoozing Board. I think you would get better results if you posted on the Mortgages & Endowments Board.

Iafh

Ah, thanks! And apologies.

euronorris

I assume your savings are currently with a Dutch bank then?

Are you also aware of how much you will be charged for transferring such a large amount of money?