Mortgage

A mortgage is a real security on a property guaranteeing loan repayment. In Belgium, the mortgage registration is performed by the notary at the Legal Security office. Costs include a 1% registration duty on the registered amount, a mortgage duty, a fee for the Legal Security office and notary fees. The mortgage can be on the purchased property or on another already-owned property. Alternatively, a mortgage mandate is less costly (no immediate registration) but offers less guarantee to the bank. The mortgage remains registered for 30 years, even if the loan is repaid earlier, unless voluntarily cancelled (release). It is one of the main cost items when purchasing property.