Updated September 28, 2026
What is Purpose?
In short
A loan's purpose is the reason it was taken out, and lenders set rules for each one.
A purpose is the job a loan is meant to do. Lenders publish the aims they accept because a home purchase and a rental property are treated very differently, and the same is true of a loan that releases equity from a home you already own. Stating your purpose early keeps you away from products you cannot have.
The mortgages here carry different lists. 1822direkt covers purchase, remortgage and buy-to-let. ABA Bank covers purchase, remortgage and home-equity, so borrowing against a home you already own is on its list. ABB Bank and ABN AMRO Zakelijk each write for purchase only.
Sources
- abb-bank.az, checked September 26, 2026
- 1822direkt.de, checked September 26, 2026
- ababank.com, checked September 26, 2026
- abnamro.nl, checked September 26, 2026