In April 2019, a new law will enter into force in Belgium. From that moment, it is possible for homeowners to take out consumer loans at a mortgage rate!
Inquiry shows that banks are not yet prepared for this
Consumers are also hardly aware of this new law. This is remarkable because for a lot of consumers this new law can yield a benefit of hundreds of euros per month.
What is going to happen? Imagine you’re all that fully repaid on age and on your 55 th all mortgage for another gain. On your 58th, you must enter into an expensive loan conditions € 100,000 and you pay for it 9.95%.
This interest is also high because you do not make the investment
This interest is high because your income is not super time and the “big banks” cannot or will not help you. This interest is also high because you do not make the investment of € 100,000 for a purchase of a home or for work, but for purely consumer purposes.From April next year you can convert this loan into a mortgage! You can extend the term if you want and you can reduce the interest enormously.
There are also many more options for making your loans cheaper. Most important is that you have your own house. In addition, the value must be at least 10% higher than all debts combined. You can already inform without obligation about the possibilities.
We are happy to calculate a few things for you
I have come across dozens of files myself in recent years and I am convinced that monthly payments can be reduced by hundreds of euros.
Merge loans then become cheaper, centralize loans or even refinance your mortgage with inclusion of loans not used for the home.
Wondering if the banks will come up with special products in the coming period. We at Good Finance will follow up for you.
Note: January 6, 2019: As described above, there is still much uncertainty about the content and application. As far as we know, everything has been postponed until the end of this year. We will continue to follow up for you.