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Formulas for the home loan rates
Do you intend to buy a house, an apartment, a plot of land or to build your own home? If so, you need a sound financial partner to finance your project. ING Luxembourg is there to help you to draw up a personal financing plan and to provide the funds you need.
home loan with a revisable rate
A tailor-made financing solution, adapted to your projects. Do you intend to buy a house, an apartment, a plot of land, or build your own home? Do you want a fixed rate* for the complete duration of the loan for more security? A variable rate** for greater flexibility? Or are you still undecided? ING offers you an innovative financing solution that combines flexibility and transparency: a revisable rate, designed to evolve with you.
What are the advantages of the “revisable rate”?
1. Flexibility
- Choice of rate type
You have the freedom to choose and change the type of rate at each renewal period.
At the end of each renewal period, you can opt for:- a fixed rate, to secure your budget,
- or a variable rate, to take advantage of market opportunities.
- Renewal frequency
The renewal frequency can be set at 3, 5, or 10 years, depending on your choice when the loan is set up. This revision frequency remains unchanged throughout the loan term. - Early repayment
You can repay your loan early, partially or in full, without fees:- At any time, if your loan has a variable rate.
- At each renewal period (every 3, 5, or 10 years), if your loan has a fixed rate.
Outside these periods, fees may be applied.
2. Transparency
The variable rate is reviewed every 6 months, based on the 6-month Euribor index, with automatic adjustment of your monthly payment.
This ensures full transparency on the evolution of your rate, indexed to a clear and public market indicator.
The profit margin is defined in the contract and remains unchanged throughout the loan term.
How does this work?
This is a revisable rate, structured in periods of 3, 5, or 10 years.
For example, for a 9-year loan with 3-year periods:
- You can start with a variable rate,
- After 3 years, you can choose your rate type for the second period: variable again or fixed,
- And adjust again according to your needs at each renewal every 3 years.
This way, you maintain control over your financing throughout the loan duration.
Need personalised advice?
Our credit advisors are available to help you choose the formula best suited to your situation.
*What are the characteristics of a fixed rate?
By choosing a fixed-rate loan, you choose security. The rate and, therefore, your monthly payment amount will remain stable throughout the defined period, so you will not face any unpleasant surprises.
**What are the characteristics of a variable rate?
- Your monthly payment may increase or decrease every 6 months depending on the evolution of the 6-month Euribor reference rate.
- The variable rate mortgage allows you to make early repayments (partial or full) at any time.
home loan with a variable rate
Do you intend to buy a house, an apartment, a plot of land or to build your own home? If so, you need a sound financial partner to finance your project. ING Luxembourg is there to help you to draw up a personal financing plan and to provide the funds you need with the flexibility of a variable rate.
What are the characteristics of the variable rate?
- Your monthly payments increase or decrease following the overall rate changes in the financial markets.
- The variable-rate home loan has the great advantage of always allowing you to make partial additional repayments or even repay it in full or increase your monthly payments depending on your financial means without incurring any penalty payment at all. You can therefore shorten the term according to your financial means.
When making your application, we will clearly explain to you the effect of a change in rates on the monthly payments to be made. This will allow you to plan for the level of monthly repayment should the rates increase.
home loan with a fixed rate
What are the advantages of the “fixed rate”?
When choosing a fixed-rate loan, you opt for certainty. The rate and therefore the amount of your monthly payments will remain unchanged during the entire term of your loan; thus you will never have any unpleasant surprises.
However, this formula does not allow you to make partial early repayments. Only repayment in full is allowed, subject to a repayment penalty.
All home loan applications will be subject to a review of your financial situation, in accordance with applicable laws.
In the event of non-compliance with your obligations, legal action may be taken. As a last resort, the Bank may sell the property to recover the amounts owed.
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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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