Ash : If I recall correctly, the maximum mortgage in Belgium is 25 years, and it's only been introduced to the market 1 or two years ago. I pay around € 550 a month, insurance included, and it's a 20 year fixed rate mortgage. Of course, if rates are as high as 9% in the USA, it would make sense to have longer terms, or no one would be able to afford it.

Marianne : nothing is new around here. It's all used. :)

Zed : I feel your pain - oh, doesn't that sound nice? Actually comparable houses being rented out for nearly twice as much as you pay for your mortgage, is a good thing. If you make that last payment, you'll be able to do whatever you want with the house. Sell it, rent it out, or stay. Renters that leave "their" place after 15 or 20 years usually leave with what they entered the lease : nothing. In other words, they've been paying for that long and own nothing.

Joco : can the rate rise 1% every 5 years, or only 1% over the course of the 20 years? Anyway, it is probably the best solution for your case, and that's also the hardest part about mortgages : they're hard to compare as everyones situation is different.


when the mortgage is finally paid off i intend to rent the house and if the kids have left (i'm praying), then i intend to move to an entirely different continent altogether. i'm going to be left with yet another problem : 2/3 of the damn house belongs to my ex and i aim to buy it off him so as to be able to leave the kids something when i pop my clogs. so basically, i'm in debt for the rest of my life. what a lovely thought.

1% maximum over the full 25 years over

i pay +- 900euro to the bank every month
and some to my parents(intrest free ;)

i have a deal that i can pre-re-pay every 5 years max 25k euro , without any extra intrest or fee.

i thought a long time about what i should take( the bank has like 10000 solutions for a loan, but you do have to find out whitch one is the best to your personal situation.. especially in my situation(gf not working, a son, not marrried, working in other country) it was necessary to do lots of calculations before deciding.

9 HUNDRED euros ? holy fuck, that's a lot.

Zed... it's a big and nice house :)

Oh... and it's got a little pond in the back, containing 150 litres of water, and embedded in about 1400 kilo of sand and pebbles... it ain't going anywhere!

but this house is big and has a pond in the garden. it's also a private road. but �900 ??? how many bedrooms ? cellar ? garage ?

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This page contains a single entry by ServMe published on June 19, 2003 11:59 AM.

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