Q: Which interest rate is best for me?

What is fixed interest rate? In this formula, you benefit from an interest rate which will be identical for the entire duration of the execution of the loan / mortgage credit. This is a particularly interesting formula when rates are low and likely to increase over time. Currently interest rates are historically low and this is therefore the ideal formula. What is the semi-fixed interest rate? In this formula, you benefit from a fixed rate for a period of 10 years and then a rate review takes place. This formula is interesting when rates are likely to increase in the future. What is the graduated interest rate? In this formula, you repay more interest than capital. The monthly payments are linked to the index and increase by €30 to €40 every two years. This is a particularly interesting formula for young people whose professional salary is expected to increase over the course of their career.

Question 1

Up to what age can I borrow?

Accepted Answer

There is no age limit for borrowing. Our advisors analyze your situation on a case-by-case basis.

Question 2

How does the credit application procedure work? Do I need to make an appointment to apply for credit?

Remy · Accepted Answer

In general, credit requests are taken by our advisors over the telephone. We then submit the file to one of our financial partners who gives us a response within 24 hours. If your application is accepted, we will schedule an appointment for you at one of our agencies so that you can sign your credit contract.

Question 3

What is an authentic act?

Remy · Accepted Answer

This is an act generally drawn up by a notary or in certain cases a bailiff.

An authentic act is enforceable against third parties, that is to say that third parties or people who are not parties to the agreement cannot question the existence of the act.

To take out a loan/mortgage credit, you must necessarily go before a notary because the deed of sale and the loan/mortgage credit contract are notarial acts.

Question 4

Which interest rate is best for me?

Remy · Accepted Answer

What is fixed interest rate? In this formula, you benefit from an interest rate which will be identical for the entire duration of the execution of the loan / mortgage credit. This is a particularly interesting formula when rates are low and likely to increase over time. Currently interest rates are historically low and this is therefore the ideal formula. What is the semi-fixed interest rate? In this formula, you benefit from a fixed rate for a period of 10 years and then a rate review takes place. This formula is interesting when rates are likely to increase in the future. What is the graduated interest rate? In this formula, you repay more interest than capital. The monthly payments are linked to the index and increase by €30 to €40 every two years. This is a particularly interesting formula for young people whose professional salary is expected to increase over the course of their career.

Question 5

Can reimbursements be made to an account in Luxembourg?

Accepted Answer

Without any problem, you must know the IBAN and BIC accounts. There are no fees to repay your credit from an account in Luxembourg.

Question 6

How much can I borrow on a mortgage?

Accepted Answer

It is generally accepted that the total credit charges for a month should not exceed 33% of your monthly income for a single person and for certain banks. In certain other cases, the debt ratio for importable income can go up to 50% of household income.

At Crédit Populaire Européen, our specialists study your situation and will offer to repurchase and consolidate current loans so that you only have one loan to repay, guaranteed by a mortgage.

Question 7

For a mortgage loan, do banks require a minimum deposit of money?

adeline · Accepted Answer

Some banks do not require a contribution of funds from the borrower. However, if the bank has to finance the entire amount of the loan plus the costs of the notarial deed, it is possible that your interest rate will be higher than if you are able to make a prior contribution .

If you are not able to make a advance contribution, we invite you to consult our 125% mortgage loan solution.

Question 8

I am going to divorce, is it possible to repay an existing loan on my own?

Remy · Accepted Answer

You must first be divorced to consider this solution or have a property separation contract. You can take out a loan to buy out your former spouse's share. If you have a mortgage loan in both names, you can continue to repay it alone if your income is sufficient to repay the initial monthly payment (decoupling of the loan), which requires the agreement of the lending bank. If the monthly payment proves too high, we could refinance the remaining balance of the mortgage loan over a longer term through another bank.

Up to what age can I borrow?

Up to what age can I borrow?

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