- If you are buying a home, you will draw on your capital in one go.
- If you are building, you will draw on the capital in instalments as and when you need to.
A bridging loan must be repaid at the date you sell your property and no more than 12 months after the date on which the loan contract is signed.
The loan amount is determined on the basis of the discounted proceeds of the sale, the minimum being EUR 12,500. It is paid into a separate account.
- You want to buy a house valued at EUR 200,000. To finance this purchase, you are awaiting the proceeds of the sale of your current flat (EUR 180,000) and are investing EUR 20,000 of your own money.
- Since your house is being purchased before your flat is sold, you take out a Bridging Loan for EUR 180,000 and draw down this sum in a single amount.
- Based on an annual interest rate of 4.85%, you pay EUR 2,142 in interest at the end of each three-month period after you have drawn down the Bridging Loan.
- If you repay your loan more quickly, the interest payable will be prorated for the period during which you used the loan.
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.