How long can my mortgage loan last?

The minimum duration is set at 8 years and the maximum duration at 30 years and depends on the age of the applicant.

What is mortgage discharge?

First, let us clarify that the mortgage is the guarantee which allows a bank to cover itself in the event that the borrower is no longer able to repay his loan. In fact, the borrower could not sell the property without obtaining approval and the release of the mortgage. The bank has the right to cancel the credit in the event of non-payment, to have the property sold during legal proceedings and to recover the balance of its debt from the proceeds of the construction of the building. On the other hand, in the event of early repayment of your mortgage loan, the notary is required to request the release of the mortgage. Release is a legal act where the bank certifies that the borrower has fully repaid their loan. This release is done by notarial deed which therefore generates notary fees. In practice: the release of a mortgage is only essential if you decide to sell the building. Otherwise, just let time pass to get the 30-year period to expire. In this case the mortgage will disappear automatically but this time without any costs.

What are the consequences of failing to repay my loan?

If you do not pay two monthly payments, your lending organization has a legal obligation to cancel your credit contract and request your registration from the National Bank of Belgium. In this case, you will no longer be able to borrow on the credit market until your dispute is resolved.

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.

What is “offer to purchase”?

This is the unilateral commitment of a person to acquire property under certain conditions. The offer does not bind its recipient as such unless they expressly agree to it. In this case, the sales contract is formed.

At what age can I take out a loan?

You must be at least 18 years old.

Is it possible to prepay?

Yes, this is a right inherent in any type of loan.

I am unemployed, can I borrow? - Crédit populaire Européen

Warning, borrowing money also costs money.

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I am unemployed, can I borrow?

In principle, if you are unemployed you cannot borrow because your unemployment benefit cannot be seized unless you have a guarantee, that is to say a person who agrees with you and who has seizable income. . In addition, if you own an investment property and have rental income, you can borrow under a mortgage loan.