If you opt for a fixed-interest rate period, ING applies the principle: ‘interest rate offered is mortgage interest rate’. What does this mean? The fixed-interest rate, as you have accepted it, remains the rate for your first interest rate period. Even if the current interest rate for the same offer is lower on the passing date of your mortgage.
Good to know: ‘Interest rate offered is mortgage interest rate’ does not apply to loan parts with variable mortgage Interest rate. A variable mortgage interest rate is automatically revised.
"}},{"componentType":"sectionTitle","title":"Costs for extending the validity of the mortgage offer"},{"componentType":"paragraph","richBody":{"value":"Expiry costs: the signed offer is valid until 12.5 months after the offer date. Will the mortgage pass later? The offer will then be automatically extended for a maximum of 12 months. You pay an extension fee of 0.2% per month, calculated pro rata per day on the offered mortgage amount. This does not apply to loan parts with variable interest rate and also not to loan parts that you take with you 1 on 1 (the mortgage portability option).
"}},{"componentType":"sectionTitle","title":"Cancelation costs"},{"componentType":"paragraph","richBody":{"value":"You sometimes pay cancelation costs if the mortgage contract does not pass within the term agreed in the signed offer. We do this because after you have accepted the offer, ING commits to guarantee you the interest rate offered. If the mortgage does not go through, we may have a financial disadvantage. The cancelation costs will be charged if on the cancelation date or (if there is no cancelation date) on the expiry date after extension, the interest for the same ING offer (including all discounts and surcharges that then apply) is lower than the interest in the signed offer. This is assessed for each individual loan part in the offer. The cancelation costs are determined according to the present value method, with a maximum of 3% over the principal amount of the loan parts for which you owe cancelation costs. For an explanation of the method and example calculations on cancelation costs, please see the brochure "General information and terms and conditions ING Mortgages".
Good to know: ING will not account any cancelation costs if the purchase contract is terminated before the expiry date. This can be the case, for example, in the event of divorce or death and if you (or someone on your behalf) do not conclude a new purchase contract for that property afterwards.
"}},{"componentType":"sectionTitle","title":"New fixed-interest term"},{"componentType":"paragraph","richBody":{"value":"3 months before the end of the fixed-interest period of a loan part of your mortgage, you will receive a new offer with multiple possible fixed-interest periods for this loan part. This offer, to which you should respond in time, is based on ING’s policy, the interest rates and any discounts or surcharges that apply at that time. Our offer also states which fixed-interest period you will receive if you do not respond in time. On ING.nl you can find the current interest rates. If you use MijnING, you will also receive the offer there. You can then choose your new fixed-rate period via MijnING.
Good to know: The fixed-rate period of the Bridging loan is 1 year. After that, the interest rate is fixed again for a period of 1 year. You will receive an information letter with the new interest rate 3 months before the end of the fixed-rate period.
"}},{"componentType":"linkList","iconTitle":{"title":"More information"},"textLinks":[{"url":"/en/personal/expats/mortgages/mortgage-step-by-step","text":"Mortgage step by step"},{"url":"/en/personal/mortgage/mortgage-advice","text":"Mortgage advice in English"},{"url":"/en/personal/mortgage/contact","text":"Plan orientation meeting"},{"url":"/en/personal/mortgage/mortgage-types","text":"Mortgage types"},{"url":"/en/personal/mortgage/mortgage-calculator","text":"Calculate your maximum mortgage"},{"url":"/en/personal/mortgage/current-mortgage-rates","text":"Current mortgage rates"},{"url":"/en/personal/mortgage/advisory-fees","text":"Advisory fees"},{"url":"/en/personal/mortgage/property-services","text":"Property services"}]}]},"legalZone":{"flexComponents":[{"componentType":"paragraph","title":"Good to know","richBody":{"value":"The English text of the website is a translation of the Dutch original version. This translation is intended for the customer's convenience only. In case of any discrepancies between the two versions, the original Dutch version shall prevail. The mortgage offer and contract will be signed in Dutch. Also, all further communication after signing the mortgage contract will be in Dutch. You acknowledge and accept this. If any assistance or clarification is needed, we recommend contacting your mortgage advisor or to call our customer service via the ING app.
"}}]}}}