President
Waarborgfonds Eigen Woningen / Foundation Guarantee Fund for Homeownership

Karel Schiffer is president of the Foundation Guarantee Fund for Homeownership, which is responsible for supplying the National Mortgage Guarantee (Nationale Hypotheek Garantie) to borrowers.

The National Mortgage Guarantee, set up in 1995 with the backing of the central government as the successor to the Municipality Guarantee, secures repayment of mortgags used to purchase or renovate private homes. The guarantee, called the National Mortgage Guarantee (Nationale Hypotheek Garantie), was introduced on Jan. 1, 1995, and is supplied to borrowers deemed eligible following an assessment procedure. Some 60,000 guarantees are supplied each year.

Prior to becoming head of the foundation, Karel worked in a number of different positions at the Ministry of Housing, Physical Planning and Environment.

In his last position at the Ministry - coordinator for matters related to homeownership - Karel wrote a number of policy documents, including one on building savings, and worked on studies outlining and analysing the mortgage market in the Netherlands.

His final effort as a civil servant focused on the privatisation of the municipality guarantee for homeownership. This led to the creation of the Foundation Guarantee Fund for Homeownership at the end of 1993. Karel has been president of the foundation since its inception.

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