Deferral of mortgage repayments for private individuals

Private individuals can apply for deferral of mortgage repayments (both capital and interest payments) with their bank. 

However, there are some conditions that need to be fulfilled: 

1. The applicant (or its partner) has a lower income due to the COVID-19 crisis:

• Temporary or full unemployment;
• Illness resulting from COVID-19;
• Closure of your business;
• Bridging measures.

2. On 1 February 2020, there were no arrears in repayments for the mortgage loan;

3. The mortgage loan relates to the only immovable property that serves as main residence of the applicant. Private individuals having several immovable properties will therefore not be able to apply for a deferral of repayment;

4. The applicant has a total in liquid assets lower than 25,000 EUR, taking into account the total of all current and savings account(s) together with the investment portfolio, at the time of the request.

The conditions will have to be proven, amongst a certificate of unemployment/ a certificate of decrease in income.

Deferral period for repayment:

Deferral of repayment can be requested for a period until 31 October 2020 at the latest and can only be requested for future monthly payments.

There are no additional administrative costs as a result of the deferral of repayment. The capital repayment and interest will resume after the period of deferral. The term of the mortgage loan will be extended by the months of the deferral.

An additional favour is granted to individuals with a net income of less than 1.700 EUR, they will not have to pay interests for the period of deferral.

 The net household income is being determined as following:

• For employees: monthly income in February 2020 + recurring incoming payments (for example alimony  and rental income) – child allowance payments – consumer loan and mortgage repayments for the primary residence;
• For one-man businesses: monthly income before the COVID-19 crisis + recurring incoming payments (for example alimony and rental income) – child allowance payments – consumer loan and mortgage repayments for the primary residence and repayments for any business loans in own name.

Useful links

https://www.febelfin.be/nl/consumenten/artikel/vragen-en-antwoorden-betalingsuitstel-hypothecair-krediet-van-particulieren; https://www.ing.be/en/retail/my-news/charter-deferment-payment-mortgage-loan