Taking out or partially repay a mortgage
| At the time of payment | The following years |
|---|---|
| You can use the ‘lump sum’ to (partially) repay your mortgage, to reduce your housing costs. Be well informed by your financial advisor. For example, you sometimes have to pay a fee in the event of early repayment. |
When taking out a mortgage, an income test is performed. By choosing the ‘lump sum’, your monthly income will decrease. As a result, you may be able to borrow less or have to pay more interest if you want to take out that new loan. |