Mortgage credit buyback
Lower the rate of your current credit.
If rates have fallen since you borrowed, buying back (or renegotiating) your mortgage loan can reduce your monthly payments or the term — and the total cost.
Credit buyback consists in replacing your current mortgage loan with a new one, on better conditions. In Belgium, you can either renegotiate with your bank, or have the credit bought back by another lender. Watch out for the costs: a reinvestment fee (legally capped at three months' interest for a mortgage loan for private use) and, in the event of a change of bank, notarial deed fees for the new mortgage.
The operation is worthwhile when the rate gap and the outstanding capital are sufficient to absorb these costs and generate a real saving. We carry out the full cost/benefit calculation for you and only recommend the buyback if it is genuinely a winner.
Warning: borrowing money also costs money.
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