Do you have an investment‑linked insurance policy? Then you build up capital by investing. You use this capital to repay your mortgage debt in full or in part on the end date. How risky this is depends on your investments.
Is the remaining term short? Then taking less risk may be sensible, as you have less time to absorb disappointing investment results.
You can also choose to surrender your life insurance policy earlier. With the surrender value, you can already repay (part of) your mortgage. You can pay any remaining debt with your own funds or convert it to a mortgage type with monthly repayments.
"},"title":"1. When you invest, it may be sensible to secure the accumulated value towards the end of the term"},{"richBody":{"value":"If you repay your life mortgage (in part) using the accumulated value, your mortgage debt will be lower. As a result, you will pay less interest.
The interest rate may also decrease if your loan‑to‑value ratio becomes lower. You can find more information about the loan to market value ratio here.
"},"title":"2. You can use the accumulated value to repay part of your mortgage, reducing your outstanding balance, which means you pay less interest"},{"richBody":{"value":"Do you want to avoid having any mortgage debt left at the end of the term? Then it may be wise to switch to a mortgage type with monthly repayments*.
If you cannot fully repay your mortgage on the end date using the value of your life insurance policy, you will have to pay the difference, for example with savings. If this is not possible, you may sometimes be able to extend the mortgage, provided your income allows this and it fits within the policy at that time. If extension is not possible, selling the property will be necessary, and you will need to use the sale proceeds to repay the debt.
*You can also choose to let your life insurance policy continue until the end date and, in addition, make periodic repayments on your mortgage. Each year, you can repay up to 10% of the mortgage amount early without any costs.
"},"title":"3. Switching to monthly repayments helps you avoid a remaining debt and ensures your mortgage is fully repaid at the end of the term"}],"componentType":"accordion"},{"componentType":"sectionTitle","title":"The disadvantages of converting a life mortgage"},{"accordionList":[{"richBody":{"value":"Do you make an interim repayment? This may involve costs. The amount depends on, among other things:
These costs do not apply at the end date of the loan. It is therefore important to seek advice to find out whether it is worthwhile to repay your mortgage early and convert it in part. You can read more about the costs of making an early repayment on your mortgage here.
Please note: ING is not aware of the value of your insurance policy. You must request this value yourself from the insurer. If you decide to surrender the pledged insurance policy early, you must submit this request in writing to ING. We will then instruct your insurer to surrender the policy. Once we have received the funds, you will receive a redemption statement from us. This process may sometimes take several weeks.
If a residual debt remains after repayment, you must transfer the remaining amount yourself. If this is not possible, please contact us so we can convert the remaining debt to another mortgage type.
"},"title":"1. Early repayment charges may apply"},{"richBody":{"value":"With a life mortgage, you pay interest as well as a premium for the life insurance policy. Do you terminate your life insurance policy and convert the remaining mortgage to a type with monthly repayments? Then you will pay both interest and repayments. This may increase your monthly payments.
The amount of the monthly repayment depends on the remaining term and the size of your loan. For more information about mortgage types with monthly repayments, see, for example Annuity mortgage or a Linear mortgage.
"},"title":"2. Your monthly expenses may increase when you switch to a mortgage that includes monthly repayments"},{"richBody":{"value":"Do you want to terminate your life insurance policy early, and does this policy also include death cover? Then it may be wise to apply for a separate term life insurance policy before terminating your life insurance policy. This way, you will know whether the insurance is accepted and whether the risk of death is insured.
"},"title":"3. If your life insurance policy is terminated, you may no longer be covered for the risk of death"}],"componentType":"accordion"},{"componentType":"sectionTitle","title":"Want to talk things through?"},{"componentType":"paragraph","richBody":{"value":"Would you like to know whether converting is right for you? Or are you curious about your new monthly payments?
We are happy to think along with you.
"}},{"componentType":"cta","textLink":{"text":"Get in touch","url":"https://www.ing.nl/particulier/hypotheek/contact/fh?subscrid=cmnl-mort-fh"}}]},"hasMacro":false,"id":"312867da-5b47-4561-870a-9ab5997e9d4c","legalZone":{"flexComponents":[{"componentType":"sectionTitle","title":"Good to know"},{"componentType":"paragraph","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.
"}}]},"localeString":"en-GB","mainHeaderZone":{"backLink":{"textLink":{"text":"Your ING mortgage","url":"/en/personal/mortgage/your-mortgage"}},"componentType":"productHeader","coreHeader":{"body":"If your needs or personal circumstances have changed, it may be sensible to convert your ING Life mortgage to ensure your mortgage type better fits your current situation. Converting your ING Life mortgage has both advantages and disadvantages. We have listed them for you.\r\n\r\nGood to know: if there is insufficient value being built up in your life insurance policy, ING will not charge any advice fees for converting your mortgage.","headerImage":{"extension":"jpg","original":"https://assets.ing.com/m/bfd641de1467144/original/GROUP-OF-PEOPLE-SITTING-ON-SOFA.JPG","transformBaseUrl":"https://assets.ing.com/transform/6dacae0c-d545-4d6e-9ce9-a2c071a41137/GROUP-OF-PEOPLE-SITTING-ON-SOFA","type":"image","width":4239},"title":"Converting an ING Life mortgage: the pros and cons listed for you"},"legalBanner":{"body":"Let op! Geld lenen kost geld","componentStyle":"default","headerBannerType":"headerBannerType","image":{"extension":"svg","original":"https://assets.ing.com/m/3f5c0b274ee863ed/original/Group-7.svg","transformBaseUrl":"https://assets.ing.com/transform/bfc47636-d002-461a-b209-589beaaa7596/Group-7","type":"image","width":46}}},"publishDate":"2026-05-05T14:16:59.406+02:00"}}