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How to finance house mortgage + regional tax expenses
Dear Experts,
I recently asked my bank for a loan to purchase a house.
The total amount and monthly installments are comfortable for my income and conform to the general legislation on this matter. The only problem i am facing is that my bank refuses to cover the expenses for the house purchase (regional tax = 10% or 12.5% + notary fees etc.). Do you happen to know of any banks that will include all the expenses in the loaned mount?
Many thanks in advance!
If I were you I would go and see a broker, like http://www.immotheker.be/FR/Modules_de_calcul/Capacite_demprunt/
It will depend on your personal situation, but I bet that not a lot of banks are willing to lend more than 100% of the price of a property and some banks never did, even before the crisis.
I recently enquired about a mortgage with KBC and was told to expect to pay 16-17% in buying costs alone (in Brussels)!! KBC said that since 2008 they no longer give loans of over 100% as it's contrary to the new banking regulation post-crisis. This not insignificant amount of money was enough to put me off buying altogether. That's on top of the deposit.
No - since the big crash, it is nigh on impossible to get a mortgage that covers more than the value of a property.
You NEED to save up.
"You NEED to save up."
Which, of course, in the good old days was what everyone did before even thinking of buying somewhere.
In the "good old days" house prices did not go up faster than you could save. Mind you, if ever there was a bubble.......
In the "good old days" house prices did not go up faster than you could save. Mind you, if ever there was a bubble, Belgium is it.......
How much in general should you save before buying if the bank is giving you 100%? 15% on top of that?
When you get the rebate (first 60k EUR), is this deducted immediately from the money you pay to the notaire for the registration?
