Guide - Paying off my mortgage
How do I pay off my mortgage? Find out how to repay your mortgage correctly, when it is advantageous to pay off your mortgage early and what benefits you need to take advantage of.
I'm paying off my mortgage
A mortgage is a long-term loan that you will gradually repay over a number of years. We know that different situations can arise in life. Moving to a smaller or larger apartment or house, divorce, a long-term loss of income... These are just a few common situations where you will be looking for a solution to what to do next with your mortgage. Our mortgage specialists will find a solution for every life situation.
How to pay the mortgage?
Like taking out a mortgage, repayment is cashless. Like other loans, you repay your mortgage monthly. The important thing is to send your regular payment on time and in the correct amount. To avoid the inconvenience of a payment not going out on time, set up a standing order in online banking.
Set your monthly repayment amount so that you can easily cover it from your regular monthly income. Remember also that there may be a short-term loss of income during the repayment period, for example, if you lose your job or become ill. In these cases, keep enough money in reserve to cover at least six monthly mortgage payments.
It is worth taking out repayment insurance with your mortgage. In the event of a long-term loss of income, you can be sure that your repayments will be taken care of. A mortgage is a long-term commitment and you never know in advance what might happen. If you're unsure about choosing the right mortgage insurance, contact our mortgage specialists.
Mortgage early repayment
You can choose to pay off all or part of your mortgage early during the repayment process. Our mortgage specialists will keep an eye on the end of your fixing in case you decide to pay off early. If you signed a mortgage agreement on or after December 1, 2016, or if you have an older agreement and your new fixing period started after that date, you can pay off your mortgage at any time without penalty. The bank can only charge you for costs reasonably incurred. You can also legally repay the whole mortgage loan for free three months before the end of the mortgage interest rate fixation period, in the event of death, long-term illness or disability where you can no longer repay the mortgage loan. You can also make an extra payment of up to 25% once a year, one month before the anniversary of the signing of the loan agreement.
Make payments and enjoy the benefits
Paying off your mortgage comes with tax-saving benefits. Once a year, you'll receive a certificate from the bank confirming the interest paid, which you simply attach to your tax return.
To keep you up-to-date on your mortgage, you will receive a monthly summary of your mortgage balance from us.