When you make (additional) repayments on your mortgage early, the money we lent is returned to us earlier than agreed. As a result, we will not receive the future interest payments that you would have owed on the amount of the repayment. To compensate for this lost interest income, we will try to lend the same mortgage amount to someone else for the remainder of the fixed interest rate period. If the interest payments we receive are lower than those we agreed with you, we will incur a financial loss, which is why we charge for early repayment.
If you’re looking to adjust your mortgage rate during an ongoing fixed interest rate period, there are two ways to do it:
Every year, you can pay off an additional 10% of the original amount borrowed on your mortgage without repayment charges. And in the following situations you can pay off even more without having to pay any charges:
When making a repayment on your ING revolving mortgage.
When making a repayment on a variable-rate loan part.
When making a repayment on a bridging mortgage, or putting extra home equity towards your new mortgage after moving house.
When making a repayment on a loan part within three months before a new fixed-rate period.
When making a repayment on a loan part when the current mortgage rate (comparison rate) we use to calculate repayment charges for that loan part is higher than your current mortgage rate.
When selling your home, with all debtors on the mortgage moving out after the sale. There is one exception: if you opted for the Voordeelrente Component 2 discounted rate in your interest rate contract, you will have to pay repayment charges when paying off your mortgage early when you sell your home.
You are making a repayment within 12 months after the death of your co-debtor or another person with whom you shared a household long term at the time of their death.
For more information about making additional repayments on your mortgage without incurring repayment charges, see the terms and conditions you received when you took out the mortgage.
"}},{"title":"When will the new monthly payments take effect?","richBody":{"value":"If you adjusted the mortgage rate before the 15th of the month, the new monthly payments will take effect the next month. If you adjusted the mortgage rate after the 15th of the month, the new monthly payments will not take effect until the month after the next. If you opted for the one-off charge to pay for the interim mortgage rate adjustment, it will be debited along with the first mortgage payment at the new mortgage rate.
Note: It takes a month for the new monthly payment amount to appear under ‘Kijk Vooruit’ (Look Ahead) in the ING app and on My ING.
We calculate repayment charges and the one-off charge when breaking a fixed interest rate period in exactly the same way. Take a look at the sample calculations below to find out how we calculate these charges. If one of the situations from these examples resonates with you, and you want to find out how additional repayments or an intermediate interest adjustment would work out in your case, we’ll be happy to run the numbers for you. To find out how much you can still pay down on your mortgage this year without incurring any charges, go to My ING/mortgages.
On 18 April 2022, the Dutch financial industry regulator AFM added the following information to its ‘Leidraad vergoeding voor vervroegde aflossing van de hypotheek’ (Early mortgage repayment guide). In calculating the charges for early repayment, the comparison mortgage rate can, in principle, not be lower than the mortgage rate as it is on the repayment date agreed between the provider and the customer. This does not affect our calculation of the charges for an early repayment on your mortgage, because ING was already charging customers for this before the AFM implemented this new rule.
"}},{"componentType":"accordion","accordionList":[{"title":"Take a look at sample calculation 1: Interest-only mortgage","richBody":{"value":"Situation
You want to pay off your interest-only mortgage in full before the end of your current fixed-rate period. The original amount you borrowed on the mortgage is €250,000. The amount currently outstanding is €205,000. How long there is left to run on the fixed-rate period depends on the repayment date you choose. If you want to pay off only part of your interest-only mortgage, we will calculate the repayment charges using the same calculation method.
Basic assumptions
You can pay off an additional 10% of your original mortgage amount every year without incurring charges.
| Amount to be repaid (outstanding debt) | € 205,000 |
|---|---|
| Amount you can still repay this year without incurring charges | € 25,000 -/- |
| Amount based on which we calculate early repayment charges | € 180,000 |
| Remaining fixed-rate period | 28 months |
| Term remaining under your mortgage agreement | 304 months |
| Your mortgage rate (conntractual rate) | 3.5% |
| Currently offered mortgage rate (comparison rate) | 2.5% -/- |
| Annual loss of interest income for ING | 1.0% |
Calculation of early repayment charges
Situation
You want to pay off your annuity mortgage in full before the end of your current fixed-rate period. The original amount you borrowed on the mortgage is €250,000. The amount currently outstanding is €205,000. How long there is left to run on the fixed-rate period depends on the repayment date you choose. If you want to pay off only part of your annuity mortgage, we will calculate the repayment charges using the same calculation method.
Basic assumptions
You can pay off an additional 10% of your original mortgage amount every year without incurring charges.
| Amount to be repaid (outstanding debt) | € 205,000 |
|---|---|
| Amount you can still repay this year without incurring charges | € 25,000 -/- |
| Amount based on which we calculate early repayment charges | € 180,000 |
| Remaining fixed-rate period | 28 months |
| Term remaining under your mortgage agreement | 304 months |
| Your mortgage rate (contractual rate) | 3.5% |
| Currently offered mortgage rate (comparison rate) | 2.5% -/- |
| Annual loss of interest income for ING | 1.0% |
Calculation of the one-off charge for breaking your fixed-rate period
Situation
You want to pay off your linear mortgage in full before the end of your current fixed-rate period. The original amount you borrowed on the mortgage is €250,000. The amount currently outstanding is €205,000. How long there is left to run on the fixed-rate period depends on the repayment date you choose. If you want to pay off only part of your linear mortgage, we will calculate the repayment charges using the same calculation method.
Basic assumptions
You can pay off an additional 10% of your original mortgage amount every year without incurring charges.
| Amount to be repaid (outstanding debt) | € 205,000 |
|---|---|
| Amount you can repay this year without incurring charges (10% x €250,000) | € 25,000 -/- |
| Amount based on which we calculate early repayment charges | € 180,000 |
| Remaining fixed-rate period | 28 months |
| Term remaining under your mortgage agreement | 304 months |
| Your mortgage rate (contractual rate) | 3.5% |
| Currently offered mortgage rate (comparison rate) | 2.5% -/- |
| Annual loss of interest income for ING | 1.0% |
Calculation of early repayment charges
Situation
You want to pay off your bank savings mortgage in full before the end of your current fixed-rate period. The original amount you borrowed on the mortgage is €250,000. The amount currently outstanding is €205,000. You have €30,000 in the savings account linked to your mortgage. The repayment date you choose determines how long there is left to run on the fixed-rate period.
*If you have variant 1 of a bank savings mortgage and your mortgage contract stipulates that you will be liable to pay charges for this repayment, we will waive these repayment charges if you close the linked savings account(s) at the same time as you pay off the mortgage.
Basic assumptions
You can pay off an additional 10% of your original mortgage amount every year without incurring charges.
| Amount to be repaid (outstanding debt) | € 205,000 |
|---|---|
| Capital accumulated in linked bank savings account | € 30,000 -/- |
| Amount you can repay this year without incurring charges (10% x €250,000 | € 25,000 -/- |
| Amount based on which we calculate early repayment charges | € 150,000 |
| Remaining fixed-rate period | 28 months |
| Term remaining under your mortgage agreement | 304 months |
| Your mortgage rate (contractual rate) | 3.5% |
| Currently offered mortgage rate (comparison rate) | 2.5% -/- |
| Annual loss of interest income for ING | 1.0% |
Calculation of early repayment charges
Want to know more about the possibilities? Or would you like to get an idea of the repayment or rate adjustment charges you would have to pay? Please call +31 (0)20 22 888 88. We’ll be happy to help.
"}},{"componentType":"linkList","iconTitle":{"title":"More about"},"textLinks":[{"url":"https://www.ing.nl/particulier/zoeken.html?q=hypotheken","text":"Frequently asked questions about making repayments"},{"url":"/en/personal/mortgage/your-mortgage/intermediate-adjustment","text":"Changing your mortgage rate before the end of the fixed-rate period"}]}]},"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 customers 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.
"}}]}}}