Special fixed rate Mortgage
A flexible yet secure option for all types of acquisition, old and new, as well as equity release. It may be attractive to those who hesitate to take out anything other than a traditional fixed rate mortgage. The interest rate remains fixed during the first fixed period and then becomes variable. The monthly instalments remain constant.
Fact Sheet
- Minimum amount
- 50 000€
- Maximum amount
- No Maximum
- Duration
- From 7 to 30 years
- Loan-to-value
- Up to 85%
- Interest Only available
- No
Advantages
- Combines the security of a fixed rate with the flexibility of a variable rate
- Possibility to switch to a fixed rate at any time
- You can borrow up to 85% of the property value
- No penalties in the case of early repayment during the variable period
In the event of a mortgage request for the purchase of a second home on the 30/11/2011 for 250 000 Euros for a term of 20 years. Fixed rate during 5 years then quarterly reviewed based on the Euribor 3 months. Total cost of the loan : 137 079.20 Euros, overall effective rate at 4.73% per year (life insurance included, without notary costs). Gives monthly repayments for 240 months of 1 612,83 Euros.
Subject to approval, some restrictions apply