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Home loan
Do you want to buy a house, an apartment, a piece of land or build yourself? In this case, you need a solid financial partner in order to achieve your project. ING Luxembourg is there to help you draw up a personal financial plan and provide you with the necessary funds.
What is a home loan?
A home loan is long-term loan that is repayable in monthly instalments. It is the ideal financing method to:
- purchase a plot of land;
- buy a house or apartment;
- build or make major renovations to a home.
What are the formulas for the home loan?
When choosing a home loan at ING, you have the choice between several type of rates.
A loan adapted to your needs
Apart from the more common home loans, we also offer home loans that can be used for home improvement, like our Loan for energy efficiency renovations.
These loans can be taken out for a period of six months to ten years.
Do not hesitate to contact one of our experts for more information on these loans.
New: video appointment
Do you want to receive personalised advice but don't have time to visit us? It is now possible to make a video appointment with one of our experts!
More frequently asked questions
The amount of the credit granted will depend:
- on the amount you can allocate to the monthly repayments;
- on the quality of the asset to be financed, which is used as collateral;
- on your personal contribution.
Your financial resources must be sufficient to allow you to make your monthly payments, while ensuring a normal standard of living.
The repayments are monthly and begin the month after drawing down the home loan in full.
These monthly payments depend on things like the interest rate, the term and the amount of credit granted.
The interest rate on your home loan can be variable, reviewable fixed or fixed.
The maximum term for home loans is 30 years, in general the loan should preferably be repaid before retirement age. Depending on the type of interest rate you choose, different maximum terms may apply.
Any private individual, acting for private purposes and with sufficient stable income to be able to repay the loan without difficulty.
The usual guarantees are:
- First home loan the real estate you would like to buy or build (the primary home loan);
- debt balance insurance to cover the outstanding borrowing in case of the death of the insured;
- fire insurance for the property subject to the home loan.
You can submit your application via any ING branch. Before visiting us you can always do an online simulation to get a first idea about your loan.
When visiting us about a loan, we advise you to have the following documents to hand:
- documents relating to income: pay slips, salary, pension, etc.;
- ownership document, purchase agreement, sale agreement (depending on the case);
- plans, specifications and the estimated conversion or construction cost;
- if applicable, a copy of statements from other banks (proof of own funds, other income or existing loans);
- photo of the item to be financed,
- identity card(s) of applicant(s);
- any other document you consider useful in processing your application.
We invite you to contact your ING advisor as soon as possible to inform her/him of your plans to leave Luxembourg. We will then give you the various conditions to be met in order to keep your home loan.
30 years.
75 years old
This can take up to 10 working days
Application fees, notary fees and registration fees
In the case of variable-rate home loans or fixed-rate loans that can be revised during a variable-rate period, early repayment or higher repayments than provided for in the contract are possible free of charge.
In all other cases, compensation will be payable to the bank and will be communicated to you on request.
If you buy a new property, it is possible, under certain conditions, to transfer this rate to the new property. For more information, contact your bank via your My ING secure messaging system or contact the Contact Centre (+352) 44 99 1 (8 a.m. to 6 p.m. Monday to Friday)
Outstanding balance insurance (ASRD), notarised loan agreement expenses, loan interest. For more details, see our brochure "How to optimise your tax returns" https://www.ing.lu/webing/content/siteing/en/Individuals/my-money/categories/savings/how-to-optimise-your-tax-declaration.html
No, we do not finance property in France
If you are a first-time buyer for personal use in the G-D of Luxembourg, you are entitled to a tax credit on registration fees of €30,000 and €60,000 for a couple.
09.2023
If you are buying a house or flat as an investment or second home, you should include conveyancing costs of between 7% and 8% of the purchase price in your financing plan.
Along with our partner Foyer Vie Luxembourg, we can make you an offer for death and disability cover on your home loan. You may use another insurer offering similar terms and conditions
Yes, you don't necessarily have to be married to take out a loan as a couple.
How to manage your home loan online
Free up funds from your loan
- Select the loan in question;
- Click on the “Transfer” icon in the top left corner;
- Select the account that you wish to release the funds to;
- State the transfer amount;
- Add the invoice corresponding to the payment;
- Finally, confirm your request.
Download your debit interest certificate
- Click on the “My accounts” icon in the top right of the screen;
- Click on “My documents”;
- Click on “Debit interest certificate”;
- Select the loan in question;
- Click on “Debit interest certificate” to open the document.
Change the name of your loan
- Select the loan whose name you wish to change;
- Click on the “+” icon in the top right corner;
- Click on “Detail”, then “Configure”;
- Click on “Edit”;
- Write your chosen name;
- Finally, confirm your request.
ING POP video: Remaining Due Balance Insurance (RDBI)
- Should I insure my real estate credit?
- What is an RDBI?
- What are the advantages of subscribing to a RDBI?
- Is this required to be able to borrow?
- How much does it cost?
"Remaining Due Balance Insurance (RDBI): Should I insure my home loan?"
with Clémence.
Should I insure my home loan?
What is a Remaining Due Balance Insurance (RDBI)?
A RDBI is a debt balance insurance which allows you to cover your monthly home loan expenses in the case of death or severe injury of the insured.
What are the benefits of subscribing to a RDBI?
The main benefit is to insure the person with whom you are doing the loan hence not having to sell the goods.
In the event of a death or severe injury, the insurance company will pay a part of your loan back in order to reduce your monthly instalments.
The second benefit is tax deduction. You can indeed deduce the cost of this insurance from your tax declaration.
Is it compulsory to get a loan?
A Remaining Due Balance Insurance isn’t compulsory depending on your family, asset and economic situation. In some cases, it is strongly recommended or even required by banking institutions.
How much does it cost?
Its cost depends on different factors: age, sum insured, length of insurance and health.
So if you apply for a home loan, think about Debt Balance Insurance to protect your loved ones.
Other useful links
Documentation
Need more information?
As ING client, it is also possible to make an appointment via My ING.
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Is insurance for the remaining balance due compulsory?
Accurately quantifying the cost of insurance for the remaining balance due is difficult, because in practice it is calculated on a case-by-case basis. It depends on your loan. The higher your capital to insure, the higher the premium will be.
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Renting or buying a property when arriving in Luxembourg?
The answer depends on how long you intend to stay in Luxembourg. If you stay in the country for a short time – less than 5 years-, renting is the best option. Owning your own home in Luxembourg is very expensive and not a very profitable short-term investment such as it is in other countries, even if the Grand Duchy is facing rising pressures on the housing market.
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Property buying: watch out for hidden costs!
When you buy a property for the first time, the classic mistake is to limit yourself to the purchase price of the house and not to consider the additional costs. To avoid unpleasant surprises, here are the 6 "hidden" costs to be aware of when planning on becoming a homeowner.
How can we help?
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