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 250 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.