What are the main caracteristics of the different housing loan types (rate types, terms, repayment...)?
Conventional housing loan with fixed interest rate
- equal monthly instalments during the chosen fixed interest rate period,
- secures your budget by protecting you against interest rate increases,
- terms of fixed interest rates (until revision): 5, 10, 12, 15, 20, 25 or 30 years,
- maximum term of the loan: 30 years,
- the full or partial early repayment of a fixed interest rate loan without payment of an early repayment indemnity is limited to the interest rate resetting periods with 15 days’ prior written notice to be sent to Spuerkeess,
- outside the interest resetting periods, a request for a full or partial early repayment is to be sent with 15 days’ prior written notice to Spuerkeess. After you receive Spuerkeess’s prior written approval and an early repayment indemnity (breakage cost) and an early repayment fee currently equal to EUR 200 are debited from your loan account, repayment will be possible. The early repayment indemnity is calculated on the basis of the terms fixed at the signing of the loan in accordance with the legal provisions in force. Subject to fulfilling the conditions provided by law, the early repayment indemnity may thus be limited by a ceiling of six months’ interest calculated on the repaid amount. Note that the law excludes the financing of rental property from this ceiling.
Conventional housing loan with variable interest rate
- monthly instalments adjusted according to changes in the interest rate,
- maximum term of the loan: 30 years,
- early repayment possible at any time and without penalties.
Mixed housing loan with variable/fixed interest rate
By financing your investment with a loan that is part fixed interest rate and part variable interest rate, you can take advantage of the benefits of both forms of interest rates:
- flexibility of early repayment for the variable interest rate,
- stability of the monthly repayment amount for the fixed interest rate.
Flexibility Loan
The Flexibility Loan reduces your monthly repayments and gives you greater flexibility when it comes to repaying your loan. It is a flexible formula that is suitable for all ages and all life situations.
For newly-active people, the Flexibility Loan makes it easier to become a homeowner by reducing the monthly repayments at the start of the loan.
For others, the Flexibility Loan provides for degressive monthly repayments, higher during working life and lower on retirement.
Bridge loan
- interim financing solution pending the sale of real estate or the receipt of certain funds (for example, a life insurance payment),
- interest payable monthly,
- maximum loan term: normally 18 months,
- principal repayable at the final due date of the interim financing.
EcoPrêt
- simplifies the financing of your projects to improve the energy performance of your home,
- attractive interest rates,
- no mortgage registration,
- no handling fee,
- loan between EUR 5.000 and EUR 100.000,
- term of the loan: 12 to 120 months.