Your monthly repayments are fixed for the term of your loan.
Fixed rate packages provide certainty. There are no unpleasant surprises.
Between 10 and 30 years
You decide from the outset how much you will pay for the term of your loan. There will be no increase or decrease in the monthly repayments thereafter. This certainty comes at a price: the interest rate is slightly higher.
Your monthly repayments may go up or down, but are always within a predetermined range.
- Variable rate packages offer the lowest interest rates. Those rates depend, however, on the economic climate at the time. What happens if interest rates fall? It is to your advantage.
- Throughout the term of your loan, you can switch to another package (e.g. a fixed rate option) when your contractual interest rate is reviewed. This means that your choice of Home Loan is never final.
Between 10 and 30 years
Your interest rate is regularly reviewed. This might mean that next month you may pay less than the previous month. Or the opposite even. Interest rate rises and falls are limited to a given percentage of the initial interest rate.
Variable rate and fixed monthly repayments, our “concertina” packages.
Your monthly repayments remain the same, but the term of your loan can be extended or shortened.
You do not need to tighten your belt if there is a rise in the interest rate on your loan.
The initial term is 15, 20 or 25 years, but can be extended or shortened.
You repay the same amount each month, but your loan can be extended by a maximum of three or five years (depending on the initial term of your loan) if interest rates rise. If interest rates fall, the term of your loan reduces without limitation.
Other packages are also available that are designed to meet specific needs (Bullet Loan, Home Invest Plan, etc.). Just contact a branch for information about a tailor-made solution.
The sum you pay each month repays a proportion of the principal as well as paying interest on the outstanding balance.
The sum you pay each month may vary, depending on the repayment method you have chosen.
- Monthly flat-rate repayments. In this case, the same sum is paid each month.
- Reducing balance repayment In this case, the monthly total to be paid diminishes progressively.
With our Flexible Home Loan, you can change your repayment method throughout the term of your loan, whether you initially opted for a fixed or variable rate package.
You must take two types of costs into account when you buy a property:
Costs linked to the home loan
- Costs linked to the mortgage deed:
- Registration duties for the mortgage loan deed, mortgage registration duties and fee of the mortgage registrar.
- Notary fees.
- Miscellaneous deed costs (cost of tax searches, land register excerpts, stamp duties, etc.)
- Arrangement fee: arranging your mortgage incurs certain costs. They fall permanently due from the time you receive written price offers, and stand at EUR 350 per file.
- Any appraisal costs: it may be the case that under certain circumstances, BNP Paribas Fortis appoints an expert to establish the market value of the building given as a guarantee.
Costs linked to the purchase of real estate (sale by mutual agreement)
- Notary costs: the notary's fees include remuneration for their work and that of their co-workers, for their liability and continuous training. These fees correspond to a percentage of the transaction, laid down by law.
- Registration duties. Note: if you are purchasing new-build accommodation, you do not pay registration duties, rather you pay VAT.
- In Flanders: registration duties stand at 10% of the purchase price as given on the deed. This percentage falls to 5% if you do not own any other properties in Belgium, and if the rate able value for the property does not exceed a certain amount, depending on the number of dependent children.
- In Wallonia: registration duties stand at 12.5% of the purchase price as given on the deed. This percentage falls to 6% if you do not own any other properties in Belgium, and if the rate able value for the property does not exceed a certain amount, depending on the number of dependent children.
- In Brussels: registration duties stand at 12.5%. Under certain conditions, the Brussels-Capital region schedules a reduction of EUR 60,000 on taxable income (this can go up to EUR 75,000 in some areas) for the acquisition of a family home designed to be the main residence.
- Miscellaneous costs: these include administrative search costs, stamp duties, etc.
Don't worry: even if your financial or family circumstances change during the term of your Home Loan, we can offer you numerous options for adapting your loan.
From the start:
- You have a long cooling-off period from the time you submit your application. Indeed, you have 4 months in which to sign the final loan agreement from the date on which you apply for your Home Loan, which will still be under the initial terms and conditions offered.
- Lower monthly repayments at the start of the term. You only need to begin repaying the principal after 36 months. During that time, you only have to pay the interest on the amounts you have drawn down. You only need to begin repaying the borrowed capital when this period comes to an end. This possibility is particularly interesting if you still have to pay rent even though your loan has already started.
- Immediate energy savings Why put off your energy saving projects? Do them now and take advantage of ecological incentives. These include tax subsidies and breaks.
Flexibility for the term of your loan
- Are your finances a little bit strained at the moment? Under certain circumstances, BNP Paribas Fortis will allow you to briefly suspend repayment of the principal for up to 6 months. Ideal if you have to keep a close eye on what you are spending.
- Pay less a month for less time? Extend the term of your loan if you want to repay less a month… or shorten the term if you want to repay for less time. The new duration can be simulated using this tool (FR).
- Reuse what you have already repaid... or even borrow more.
- If you have renovation plans that involve the installation or replacement of insulation, high-performance glass, geothermal heating or a condensing boiler, solar boiler or solar panels,
BNP Paribas Fortis
offers you the opportunity to borrow more than 80% of the value of your renovation or home without an interest increase. The normal acceptance rules remain in effect.
- You also have the possibility of drawing on your loan over 36 months, at no extra charge. This option is also available to you if your construction projects comply with the insulation standards set out in our interest rate sheet.
Financing the purchase, construction or refurbishment of a home with a Home Loan has significant tax benefits. The legislation in this area is, however, quite complicated. Want to make the most of the tax breaks? Go to one of our branches.
Each region provides financial support. For more information, take a look at Livios.be
Do you dream of buying a main or second home abroad? Bear in mind that there are likely to be legal, financial or simply practical problems. But don't worry, we are there to help! Why not contact your nearest branch for personalised information.
Whether you're seeking a loan for private or professional purposes, BNP Paribas Fortis is by your side. As a responsible lender. Indeed, a loan must help you to move forward in life, not lead you into financial difficulties. Our financing products are intended to help you turn healthy, feasible projects into reality, in a spirit of shared responsibility between yourself and the bank.
This principle of responsible lending can be easily illustrated through our promises.
- Firstly, we take the time to listen carefully to you in order to offer you a solution which is adapted to your project and your needs.
- Next, we give you a clear overview of our credit formulas and advise you in a clear, transparent manner.
- To protect you as much as possible from any risk of indebtedness, your project is examined in detail so as to determine your solvency and the most appropriate regular repayment.
- Finally, we strive to be ever-more accessible, via the various communication channels we offer.
Our support procedure is thus in place for the duration of each of your loans.