Mortgage loan

A mortgage loan is a long-term loan (typically 20 to 30 years) granted by a bank to finance the purchase of real estate. The property serves as collateral (mortgage). In Belgium, rates can be fixed, variable, or semi-variable. The National Bank asks banks to limit loans above 90% of the property's value for one's own home and above 80% for a buy-to-let investment. Monthly payments include capital repayment and interest. Credit deed costs include a 1% registration duty on the registered amount, a mortgage duty, notary fees and administrative costs.