According to the notary barometer, the average price of a house in our country rose by 5.7 percent last year, to 276,993 euros. A logical consequence of this is that we also borrow more to buy, build or renovate a house. Many Belgians spend a large part of their income on the payment of their house. Spaargids.be checked how much we borrow and pay off on average.
–
During the first quarter of 2021, the average loan amount broke forbrak the construction of a house the limit of 200,000 euros: at 204,000 euros, it was 36,000 euros, or 21%, above the average of two years earlier. In 2018, that was still 169,000 euros, according to data from the Credit Professional Association.
–
But also for the purchase of a home is borrowed a lot more than before. Three years ago, that was an average of 157,000 euros. Already almost 181,000 euros.
–
And when purchasing a home, which is accompanied by a renovation between the first quarter of 2018 and the beginning of 2021, the average loan amount evolved from 184,000 euros to 201,000 euros. The amounts borrowed are lower for pure renovations. They rose from an average of 50,700 euros in 2018 to 65,700 euros now.
–
Are you going to take out a loan soon? Simulate here how much you should pay off.
–
Per group
The high credit amounts are also reflected in the individual banks. Bee BNP Paribas Fortis, the market leader in Belgium for mortgage loans, the average loan amount last year, across all intents, was EUR 175,800. The borrowers chose to repay it over an average of 223 months (or 18.5 years). The average monthly repayment amounted to 823 euros. That amounted to 38% of their disposable income. On average, the borrowers borrowed 73% of the value of their property. Please note, for statistical reasons, the combination of an average monthly repayment and the average repayment duration does not necessarily correspond to the average credit amount.
–
BNP Paribas also made the calculation for some groups of people. Who was younger than 30 years borrowed an average of 201,000 euros and paid that amount off on average over about 23 years. The average payment amounted to 880 euros, which meant 35% of the income.
–
Bee 55+ the average loan amount was still 191,100 euros. The repayment term was almost 10 years, the average repayment amount was 842 euros. On average, they borrowed 49% of the home’s value.
–
Bee singles the payment weighs the most. They borrowed an average of 170,400 euros to repay this over 231 months, or about 19 years. The average amount was 776 euros or 38% of their disposable income.
–
Still looking for a mortgage loan? Hthe interest rate is the lowest.
–
How much can you borrow?
How much is the best loan for you right now? The most important thing is that you can handle the payments quickly. This means that after you have paid off your income, you still need to have enough left over to be able to live properly. Is the loan taking too big a bite out of your budget? Then be realistic and put your wishes in the fridge. Or try to agree a longer repayment term with the bank so that your monthly charges are lower. You can still shorten the duration of your loan during the term of your loan, extending it is slightly more difficult.
–
Also keep in mind that the first years of the loan are usually the toughest. You can expect your income to increase over the years, partly as a result of inflation. The loan costs, on the other hand, are fixed from the time the loan is taken out.
–
