31 March 2016
You would like to buy a property or you have already found one. Here is a practical summary of the stages to follow and aspects to take into consideration.
First of all, calculate your borrowing capacity. You will thus be able to focus your search according to your financial means.
How can you finance your purchase?
In most cases, buyers turn to their bank to finance their project. In addition to the purchase price, do not forget to take into account other costs such as registration fees, solicitors' fees and mortgage payment protection insurance when calculating your total budget
For your loan, different formulae of mortgage credit exist. According to the conditions of the market, it may be more advantageous to opt for a fixed or variable rate mortgage. You can also vary the term of your loan.
Does your property need some work?
Replacing your old boiler, changing the kitchen, fitting solar panels or isolating your roof, etc. - in order to finance this work, you do not have to use your savings. Again, your bank can help you. Different loans are available. Often, your energy saving work can even give you tax advantages or premiums.
Help with renovation
Also remember that every Region has a range of grants for renovations and home improvements (bonuses and subsidies). To find out the eligibility rules for these grants, contact the different competent authorities.
Have you found the accommodation of your dreams? What next?
- Make an offer. Perhaps you will be inspired by this typical example (FR) in order to prepare your offer?
- While waiting to find out whether your offer has been accepted, go back to your bank to submit your specific plans. You will be able to find the best loan for you according to your income.
- Contact a notary and arrange a date for the signature of the preliminary sale agreement.
- The contract of sale is generally signed within 3 to 4 months.
And that's it – you are a homeowner! Congratulations!Make an appointment at an ING branch
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