Homebuyers could be EUR 170 worse off a month

Calculations seen by the VRT suggest that a couple could be EUR 40,000 euros worse off at the end of a 20-year mortgage.

At present Belgium’s banks and notaries are being inundated with customers eager to beat the December 31st deadline when the present, more beneficial system ends.

The bank ING has looked into the changes together with journalists on the daily De Standaard. They worked out that the average hcouple could lose out around EUR 170 a month.

Even the existing system is set to become less beneficial.

A couple in Flanders with an existing mortgage could be up to EUR 14,000 worse off. This works out at around EUR 60 a month. This is because tax relief will no longer rise in step with inflation.

Couples who get the paperwork sorted by 31 December could still gain over EUR 25,000.

Flandersnews.be / Expatica