The remaining fixed interest rate period is the period from the repayment date until the end date of your current fixed interest rate period. The current interest rate is the rate that would apply if you were to take out a comparable mortgage now with a fixed interest rate period equal to your remaining current fixed interest rate period.
If that remaining fixed interest rate period is not a full year (for example, 5 years and 4 months), or if we no longer offer such fixed interest rate periods, we look at the interest rates for the next longer and next shorter fixed interest rate periods that we offer at that time for similar mortgages. From these two interest rates, we take the higher percentage. In doing so, we apply the loan to value that your current interest rate (the contractual rate of your existing mortgage) is based on.
"}},{"componentType":"paragraph","title":"National Mortgage Guarantee (NHG)","richBody":{"value":"Do you have a mortgage with us under the National Mortgage Guarantee (NHG)? For this, we currently apply one product interest rate. The loan-to-market-value ratio does not affect the determination of the current interest rate (comparison rate) when calculating repayment or early redemption costs.
"}},{"componentType":"paragraph","title":"Do you have Active payment discount or 'Dagrente' surcharge in your contractual interest rate?","richBody":{"value":"When determining the current interest rate (comparison rate), we take this discount into account. This means we reduce the current interest rate by the amount of this existing discount. If your current contractual interest rate includes a 'Dagrente' Surcharge, we also take this into account when determining the current interest rate. This means we increase the current interest rate by this surcharge.
"}},{"componentType":"paragraph","title":"Do you have Sustainability Discount?","richBody":{"value":"We no longer offer a Sustainability discount for new interest rate contracts. Instead, we adjust the current product interest rate up or down by the amount of the Energy Label component associated with the energy label on which your current interest rate is based. Therefore, when determining the current interest rate (comparison rate), we do not take this discount into account. Instead, we adjust the current product interest rate by the amount of the Energy Label component linked to the energy label on which your current interest rate is based.
"}},{"componentType":"paragraph","title":"Example calculation current interest (comparison interest)","richBody":{"value":"At the time we agreed on the percentage of your current contractual interest rate, you had an Annuity mortgage without National Mortgage Guarantee, with an outstanding debt of €250,000. The market value known to ING at that time was also €250,000. This means you had a loan to value ratio of 100%.
How do we calculate the current interest?
You want to do an early repayment or an intermediate interest rate adjustment. Your fixed interest rate period still has 2 years and 4 months remaining, which is 28 months. Since ING does not offer this exact period, we look at the interest rates for the next shorter and next longer fixed interest rate periods that we offer at that time for similar mortgages. From these two interest rates, we take the higher percentage. We apply the loan to value ratio of 100%, which is the same ratio your current contractual interest rate is based on.
The current interest rate (comparison rate) in this example is therefore 2.5%, which is the higher of the two rates.
"}}]}}}