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Record for the mortgage loan in Belgium!

 

The third quarter of Belgian real estate activity closed with an index of 119.4 points. Never seen in a decade!

At the end of September 2017, the national index was 119.4 points, the best result in 10 years! Indeed, the last high index was last displayed in 2007.

While in the summer the real estate market is generally running at a slower pace, it is clear that this was not the case last year!

Real estate effervescence

Real estate effervescence

For the whole of Belgium, the 3rd quarter of 2017 was characterized by an increase in real estate transactions. At the end of September, increases of 5.7%, 2.5% and 3.7% were recorded for Brussels, Flanders and Wallonia.

Yet, at the same time, mortgage demand had decreased by almost 7%. So how do you explain this increase in sales? Simply by increasing real estate purchases without recourse to mortgage credit.

Increasing the average price of a house

Increasing the average price of a house

The increase in real estate transactions can be explained in particular by the rise in real estate prices. In fact, Belgian houses were 1.7% more expensive on average this quarter. In Flanders, the increase was 2.4% whereas in Wallonia it was only 0.3%. Nevertheless, it should be noted that the average price of a property was at its highest level in the whole country.

Slight decline for apartments

Slight decline for apartments

The only drop recorded in this quarter 2017 was for apartments. Indeed, the competition in this area was then very large. The average price of an apartment had decreased by 0.1% compared to the 2nd quarter of the same year.

Barometer of the notaries

All of these observations come from the barometer of notaries, which is based on sales for the past quarter. The data is collected electronically and allows notaries to get a better idea of ​​the state of the real estate market in Belgium.

 

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Energy loan – Finds the best Green loan

An energy loan from a bank or financial institution, also known as a green loan, is a variant of a renovation loan. With this loan, a home is also being renovated, but here it is from an energy-saving point of view. For example, a loan for solar panels is a green loan.

Banks want to promote these environmentally-friendly initiatives, which is why the interest on an energy loan is lower than on an ordinary renovation loan. Usually we work here with personal installment loans and not with mortgage loans.

In addition to the fact that an energy loan or green loan has a low interest rate, there are also benefits associated with energy-saving investments. This way you will get a lower energy bill, which may be very welcome given the high energy prices. The value of your home also increases, which can then be useful for a later sale or lease. For example, you can apply for a loan for solar panels and discuss this on your electricity bill.

However, these energy-saving investments can be quite expensive. So if you prefer not to use a large part of your savings account, a green loan can help you with this. You then have enough money from the start to pay for your investments and pay back at your own pace. That is why it is useful to compare energy loans. This way you can find the cheapest green loan on the Belgian market!

Most banks give you the option to borrow between € 1,250 and € 100,000. You must then repay this within 6 and 120 months. So you have enough money available to cover the costs associated with energy-saving investments.

You can of course use an energy loan to implement energy-saving measures. But what exactly is seen as an energy-saving investment? For this, it is best to contact your bank to check whether they do offer a green loan for the works that you want to perform. However, most banks do offer energy loans or green loans for the following renovations:

Roof insulation, floor insulation and other insulation. A loan for solar panels, solar water heater and heat pump also fall under the green loans.

There are also banks that offer energy loans for measures that better protect your home against burglary or fire. However, this is not the case with all banks. So definitely ask this.

At most banks it is possible to apply for an energy loan for other renovations that are not energy-saving. For example, if you need a new kitchen or bathroom, you can use an energy loan for this. The construction of a swimming pool can also be financed with an energy loan.

However, you must bear in mind that when you take out an energy loan, most banks require that at least 75% of the investments are energy-saving investments. The banks therefore also expect that you can submit quotes or invoices that show that at least 75% of the money borrowed is used for energy-saving measures.

However, do you only want to renovate your kitchen? Then it is better to apply for a renovation loan. This loan allows you to renovate your home without the obligation that you do so by taking energy-saving measures.

The federal government grants you a tax reduction for certain environmentally friendly investments. However, it is important to keep checking this; the premium can vary from year to year. In Belgium you can receive a discount on your property tax for environmentally friendly renovations.

There is also such a thing as a Flemish energy loan. These loans are paid out by the ‘Energy Houses’ of municipalities. They decide whether you will be granted the loan or not. Specific conditions apply here: only a number of energy-saving investments are eligible. You must live in or rent out the property. Also the maximum amount that you can borrow is usually a bit lower than with normal green loans. Please note: this option currently applies to everyone until the end of 2018. From 2019 only the priority target group and legal entities will be eligible for a Flemish energy loan.

Because people want to promote environmentally friendly investments, it is possible to claim premiums through your network manager. These premiums can be very interesting. It is therefore best to inquire about the possible premiums for the current year. On our blog you can find some articles about renovation premiums.

Besides the general conditions of a personal loan you here can find, keep still account for an energy loan with another condition: you should only use a green loan to finance energy-saving work as a loan for solar panels. Sometimes the projects are specified by the bank itself. You must therefore be able to submit to your bank tenders or invoices that prove that you will actually use the money from the energy loan to finance energy-saving investments.

There are, however, certain banks that make exceptions to this. For example, it is possible for some banks to apply for energy loans where it is sufficient that at least 75% of the borrowed amount is used for environmentally friendly works. You can then spend the other 25% on other things, such as redesigning your garden or a new veranda. Some banks also offer you the option of securing your home better against burglary or fire with a green loan.

Just like with a renovation loan, you can reduce your costs. After all, it is difficult to estimate in advance exactly how many energy-saving renovations you are going to choose. This can result in you borrowing the wrong amount which can be disadvantageous. If you borrow too little, you may get into trouble, but if you borrow too much, you must repay more than you should have.

The best way to prevent this is to request quotes. Most contractors are willing to offer you quotes free of charge and without obligation. This allows you to find the contractor with the best price and you know exactly how much you would best borrow.

To find the best energy loan it is important to compare these loans. You do this best on the basis of the Annual Cost Percentages. On this website you can place several green loans next to each other for free and find the loan that best suits your needs. So do not hesitate any longer and get started with our result table so that you can quickly make your home energy-friendly!

Due to rising energy prices and climate changes, more and more people are interested in purchasing solar panels. However, this green and economic way of generating energy has a price tag. Fortunately, there are several ways to finance this investment that you do not have to immediately claim from your savings account. For example, a green loan for solar panels can offer a solution. On OneTopNotch you can easily and quickly find the cheapest energy loan. All you have to do is click on the orange button at the top of the page and choose the green loan that suits you best. On the left side of the page you can update and personalize the various criteria. You can then click further on the page of the bank where you are applying for the loan.

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Payday Loan – compare all loans

A payday loan is a consumer credit on installment and can be used for all purposes. This loan therefore makes it possible for you to finance all kinds of expenses, whether unforeseen costs, the purchase of a consumer good or the financing of certain services. What you should certainly not forget here is that the loan amount plus interest must be fully repaid.

The most important characteristic of this loan is that you can use this loan for all kinds of purposes. For example, if you want to finance a car, make a dream trip to Asia or pay for your children’s studies, you can take out a payday loan without having to use your savings account or investments. Therefore, you do not have to show documents with the application to justify what you will use the money for.

In Belgium there is a whole range of payday loans for all purposes such as the energy loan, the small loan and the student loan. These loans do not have to be used for one specific case and they all work in the same way. The possible duration varies from bank to bank.

It is important to make a distinction between borrowing for a specific purpose and an ordinary payday loan without a specific purpose. A payday loan with or for a specific purpose makes it possible to pay for a specific project, such as buying a motorcycle or renovating your house. The other type, the ordinary loan, on the other hand, is a consumer credit and is also referred to as a payday loan for all purposes or a multi-purpose loan. Whether you are going to pay for a holiday to Australia with the money, or want to buy a second-hand mobile home, you do not have to justify why the loan is being requested. Unlike with loans for or for a specific purpose, with payday loans for all purposes there is no difference between the annual cost percentages. The interest calculation is so easy: feel free to visit our payday loan simulation.

Do you ever wonder: “How much money can I borrow?” The total amount depends on the bank, so it is advisable to compare loans. In general, the minimum amount is € 1,250, although this can also exceptionally be € 500. The maximum amount will be determined by your credit history, repayment capacity and financial situation.

Cheap borrowing is of course a dream for many. To help you with this, you can compare all cheap loans for free on OneTopNotch. This way you can immediately see which bank you prefer and you can make your choice with certainty. The amounts of the different banks can be found in our payday loan simulation.

Depending on your credit history, your personal and financial situation, the chosen institution, the annual percentage rate (APR) and the chosen term, you agree on an amount with the bank. You can choose yourself how many months you will repay your loan. However, the maximum duration is set by Belgian law through the Royal Decree of 14 September 2016. Therefore, the duration – depending on the amount borrowed – is usually between one year (12 months) and ten years (120 months).
A payday loan always entails extra costs. These costs include interest and file costs and are expressed in the APR. The cost percentage makes comparing loans a lot more accessible and easier. The APR is fixed and does not change during the entire term of your loan. In other words: the bank cannot adjust the interest rate of the loan and is fixed at the start of the loan. The interest rate depends on the chosen bank, how much money you borrow, the term and the type of loan.
Banks and financial institutions are adapting to increasing life expectancy and therefore do not make borrowing exclusively possible for younger generations. Most banks offer specific loans for older people, since senior citizens are in a different phase of their lives. They often no longer work, have a pension and run a higher risk of illness or the inability to pay off long-term loans. Borrowing money at an older age is therefore possible if sufficient guarantees are provided, such as proof of taking out sickness and invalidity insurance.
With a payday loan you are not required to take out insurance. However, insurance can be highly recommended by the bank, especially if the amount borrowed is high. If something happens that makes it impossible for you to pay your repayments, the insurance will pay this for you. Extra insurance can therefore be useful, for example, if you fall out of work, become permanently or temporarily disabled or in the event of illness or death. The specific insurance conditions depend on the bank. So please inform yourself well at the bank or the insurance office.
You may repay all or part of your loan before the loan comes to an end. Banks can then ask you for an additional fee, namely a reinvestment fee. This reimbursement is legally limited and varies when the loan is fully or partially repaid. For example, you pay no more than 1% of the early repaid capital if the contract runs for more than a year, and no more than 0.5% if the contract runs for less than a year. However, the bank may not charge a reinvestment fee if you repaid the borrowed amount earlier in a period in which the debit interest rate, ie the interest rate that you pay annually for your loan, is variable. These are the rules for payday loans taken out after December 1, 2010. Different rates apply for older contracts.

You do not have to justify yourself

The biggest advantage of a payday loan is that you don’t have to justify what you want to use this loan for. You can choose for what you want to use this money, as long as you are able to repay a fixed part of the capital with interest each month for the entire duration of the loan.

A structured reimbursement

A loan granted by a bank or financial institution is a reliable source of financing. You know in advance exactly how much money you will receive. You also know perfectly how much you will have to pay monthly and what the total repayment is. Finally, the APR is also known at the start of the loan and does not vary over time. By comparing loans through our payday loan simulation, cheap borrowing is within reach.

The biggest disadvantage of a payday loan is the higher interest rate. Since you do not have to account for what you will use the money for, this increases the risk of the banks. As a result, the interest rate of a payday loan will generally be higher than that of a loan for or for a specific purpose. In addition, you must always be aware that borrowing money costs money. The amount you borrow is increased by the percentage that you have to pay in interest. So make sure that you can bear this responsibility financially.

On OneTopNotch you can calculate the interest and the monthly repayment and compare the total costs of loans from more than forty banks in Belgium. Our online payday loan simulation is 100% free, easy to use and informs you in a clear and transparent manner about the conditions and advantages and disadvantages of each bank.