Mortgage loan payment deferrals

Specifically, it concerns a possible deferral of up to 6 months (for both capital and possible interest) for future monthly repayments. After the deferment period, ordinary payments will be resumed and the term of the credit will be extended by the period of the deferral. For applications up to and including 30 April a deferral of up to 6 months is granted, and for applications after that date a deferral until 31 October 2020 at the latest. 

Who does the measure apply to?

The measure applies specifically to individuals who meet the following conditions:

1. Their income has decreased or is lost as a result of:

• Temporary or complete unemployment
• Illness as a result of the coronavirus
• Closing of business
• Bridging measures

2. On 1 February 2020 there were no arrears on the mortgage loan for which a deferral is requested.

3. The mortgage credit relates to the borrower's sole residence/principal place of residence in Belgium

4.. At the time of the application, the borrower has transferable assets (current and savings accounts, investment portfolio, etc.) of less than 25,000 euros.

How can I apply for the deferral?

The deferral must be requested from the bank. We advise you to do this at least one week before the due date of the following month, so that this monthly payment can be deferred in time. 

It is also important to note that the interest
deferral will only be granted if the family of the borrower(s) has a net monthly income that is less than or equal to 1,700 euros. For those with a higher income, the interest will remain due without delay during the period when the capital repayments are deferred.

Do you have questions about the deferral of mortgage loan repayments? Please contact your account manager or one of our specialists via corona@vdl.be.