{"type":"document","data":{"complementaryZone":{"flexComponents":[{"componentType":"linkList","iconTitle":{"title":"Mortgages"},"textLinks":[{"text":"Calculate your maximum mortgage","url":"/en/personal/mortgage/mortgage-calculator"},{"text":"Current mortgage rates","url":"/en/personal/mortgage/current-mortgage-rates"},{"text":"Refinancing your mortgage","url":"/en/personal/mortgage/mortgage-refinancing"},{"text":"Buying your first home","url":"/en/personal/mortgage/buying-a-house/buying-your-first-home/calculate-starters-mortgage"},{"text":"Buying your next home","url":"/en/personal/mortgage/buying-a-house/buying-another-house/maximum-mortgage-calculation"},{"text":"Buying a newly built home","url":"/en/personal/mortgage/newbuild"},{"text":"Your ING mortgage","url":"/en/personal/mortgage/your-mortgage"},{"text":"Mortgage types","url":"/en/personal/mortgage/mortgage-types"},{"text":"Sustainable living","url":"/en/personal/mortgage/sustainable-living"},{"text":"Mortgage advice","url":"/en/personal/mortgage/mortgage-advice"},{"text":"Costs","url":"/en/personal/mortgage/advisory-fees"},{"text":"Situation","url":"/en/personal/mortgage/situation"},{"text":"Property services","url":"/en/personal/mortgage/property-services"},{"text":"Contact","url":"/en/personal/mortgage/contact"}]}]},"contentType":"onecms:campaignPage","flexPageMetadata":{"afmBanner":false,"description":"Research into experiences with interest-only mortgages","robotInstruction":{"noFollow":false,"noIndex":false}},"flexZone":{"flexComponents":[{"componentType":"sectionTitle","title":"Who we spoke to"},{"componentType":"paragraph","richBody":{"value":"<p><span lang=\"EN-US\" dir=\"ltr\"><span><span>The homeowners in our research live across the Netherlands and are under 60. Four are ING customers. The other eight respondents have mortgages with other providers.</span></span></span></p>"}},{"alignedImage":{"position":"right","extension":"svg","original":"https://assets.ing.com/asset/ab0e3535-c77a-4de4-9384-156d9f1a5e46/grouppeoplepowerbusinessexperts.svg","transformBaseUrl":"https://assets.ing.com/transform/ab0e3535-c77a-4de4-9384-156d9f1a5e46/grouppeoplepowerbusinessexperts"},"componentType":"paragraph","richBody":{"value":"<ul><li><span lang=\"EN-US\" dir=\"ltr\"><span><span>Half have never made an early repayment on their </span></span></span><span><span><span><a data-type=\"internal\" href=\"/en/personal/mortgage/mortgage-types/interest-only-mortgage\">interest-only mortgage</a>.<span> </span></span></span></span><span><span><span><span>They are also not building up assets themselves to repay it at the end of the term.</span></span></span></span></li><li><span><span><span><span>A fifth have never made an early repayment, but are building up assets.</span></span></span></span></li><li><span><span><span><span>A third make a small early repayment each month or have previously made a larger one-off repayment.</span></span></span></span></li></ul><p> </p>"},"title":"Respondents’ experiences with early repayments"},{"componentType":"sectionTitle","title":"A clear goal"},{"body":"“Then the home is truly yours. Debt feels negative. Repaying it gives you a sense of freedom.”","componentType":"promotionalBanner","date":{},"icon":{"extension":"svg","original":"https://assets.ing.com/asset/8784c60a-c231-433e-b5a8-60fba015dbc5/Circle-Hands-conffeti-cheering-8.svg","publishedAt":"2024-10-01T14:00:11Z","transformBaseUrl":"https://assets.ing.com/transform/8784c60a-c231-433e-b5a8-60fba015dbc5/Circle-Hands-conffeti-cheering-8","type":"image","updatedAt":"2024-10-01T14:02:55Z","width":64}},{"alignedImage":{"position":"left","extension":"jpg","original":"https://assets.ing.com/asset/e48fb006-efa0-4f1b-9698-11698eb6657f/Man-celebrates-in-the-morning-artikel-aanvullend-pensioen-in-2026.jpg","transformBaseUrl":"https://assets.ing.com/transform/e48fb006-efa0-4f1b-9698-11698eb6657f/Man-celebrates-in-the-morning-artikel-aanvullend-pensioen-in-2026"},"componentType":"paragraph","richBody":{"value":"<p><span><span><span>Respondents who have made early repayments before do so with a clear goal in mind: they want to be debt-free as soon as possible.</span></span></span></p><p><span><span><span>Important goals for wanting to have no debt or less debt:</span></span></span></p><ul><li><span><span><span><span>“Leaving my partner well provided for.”</span></span></span></span></li><li><span><span><span><span>“Security for the family in the future.”</span></span></span></span></li><li><span><span><span><span>“Retiring without worries.”</span></span></span></span></li><li><span><span><span><span>“Stopping work earlier.”</span></span></span></span></li></ul>"}},{"componentType":"sectionTitle","title":"A financial windfall"},{"componentType":"paragraph","richBody":{"value":"<p><span lang=\"EN-US\" dir=\"ltr\"><span><span>A financial windfall is a natural moment to consider an early repayment. </span></span></span><span><span><span>It’s also something to think about when you get a large assignment (if you’re self-employed) or holiday pay (if you’re an employee).</span></span></span></p>"}},{"body":"“I once received an inheritance, so I used part of it for that. Also partly to lower my monthly payments a little.”","componentType":"promotionalBanner","date":{},"icon":{"extension":"svg","original":"https://assets.ing.com/asset/d27618f8-536e-4772-b86f-5119edab45ae/Circle-Coins-5.svg","publishedAt":"2024-10-01T14:00:11Z","transformBaseUrl":"https://assets.ing.com/transform/d27618f8-536e-4772-b86f-5119edab45ae/Circle-Coins-5","type":"image","updatedAt":"2024-10-01T14:02:55Z","width":64}},{"componentType":"sectionTitle","title":"Assessing the impact"},{"componentType":"paragraph","richBody":{"value":"<p><span><span><span>Many respondents find it difficult to work out in advance how an early repayment will affect their monthly payments. Monthly payments are one part of the bigger picture. A lower mortgage debt over time and greater certainty that you can stay in your home also count. </span></span></span></p>"}},{"body":"“In the short term, the result may be less impressive, but what is the snowball effect in the long term?”","componentType":"promotionalBanner","date":{},"icon":{"extension":"svg","original":"https://assets.ing.com/asset/2581754f-bf0e-4f8a-8cac-44bf1487b97a/Circle-Target-12.svg","publishedAt":"2024-10-01T14:00:11Z","transformBaseUrl":"https://assets.ing.com/transform/2581754f-bf0e-4f8a-8cac-44bf1487b97a/Circle-Target-12","type":"image","updatedAt":"2024-10-01T14:02:56Z","width":64}},{"componentType":"paragraph","richBody":{"value":"<p><span><span><span>But it also raises questions, such as the tax implications and how much you can repay early without incurring charges.</span></span></span></p>"}},{"componentType":"sectionTitle","title":"What comes first?"},{"alignedImage":{"position":"right","extension":"jpg","original":"https://assets.ing.com/asset/330f2327-392e-4212-869a-b9166e5da8c6/Large_Web-and-Screen-A-young-woman-pokes-her-boyfriend-with-a-measuring-tape-while-they-work-on-their-house-remodeling.jpg","transformBaseUrl":"https://assets.ing.com/transform/330f2327-392e-4212-869a-b9166e5da8c6/Large_Web-and-Screen-A-young-woman-pokes-her-boyfriend-with-a-measuring-tape-while-they-work-on-their-house-remodeling"},"componentType":"paragraph","richBody":{"value":"<p><span><span><span>The research shows that almost all respondents know that an early repayment can lower their monthly payments. But most also realise that the money you use to repay is “tied up in the property” and “can no longer be used” for anything else.</span></span></span></p><p><span lang=\"EN-US\" dir=\"ltr\"><span><span>If your income is limited or uncertain, making early repayments is not an option anyway. Nibud also recommends that everyone </span></span></span><span><span><span><a data-type=\"external\" href=\"https://bufferberekenaar.nibud.nl/ing/introductie\">keep a financial buffer</a> for future (unexpected) expenses.</span></span></span></p>"}},{"body":"“If you put it into the mortgage, it’s gone. I always want to have enough savings. So I can pay for it if something comes up.”","componentType":"promotionalBanner","date":{},"icon":{"extension":"svg","original":"https://assets.ing.com/asset/300285ee-9cbd-4bfd-a362-e2630fe51269/Circle-Piggy-bank-10.svg","publishedAt":"2024-10-01T14:00:11Z","transformBaseUrl":"https://assets.ing.com/transform/300285ee-9cbd-4bfd-a362-e2630fe51269/Circle-Piggy-bank-10","type":"image","updatedAt":"2024-10-11T08:16:58Z","width":64}},{"componentType":"paragraph","richBody":{"value":"<p><span><span><span>Other things take priority too. For example, respondents prefer to spend the money on their young family, a renovation, holidays or doing things they enjoy.</span></span></span></p>"}},{"actionAccordionList":[{"icon":{"altTextNL":"\"\"","extension":"svg","original":"https://assets.ing.com/asset/5455fc3f-9953-4879-925c-06db6daa2665/Savings_goals-Pig_Outline.svg","publishedAt":"2022-07-04T14:15:27Z","transformBaseUrl":"https://assets.ing.com/transform/5455fc3f-9953-4879-925c-06db6daa2665/Savings_goals-Pig_Outline","type":"image","updatedAt":"2023-12-21T15:08:48Z","width":32},"paragraphs":[{"componentType":"paragraph","richBody":{"value":"<p><span><span><span>Want to find out your potential savings in 1 minute? Not just now, but in the long term too? Try out different repayment amounts and instantly see the effect on:</span></span></span></p><ul><li><span><span><span><span>Your gross monthly payments</span></span></span></span></li><li><span><span><span><span>Your mortgage debt</span></span></span></span></li><li><span><span><span><span>Your interest</span></span></span></span></li></ul>"},"textLinks":[{"text":"Do the Repayment Check","url":"/en/personal/mortgage/your-mortgage/repayment-calculator-pros-and-cons"}]}],"title":{"value":"<p>Check now what repaying could mean for you</p>"}},{"icon":{"altTextNL":"\"\"","extension":"svg","original":"https://assets.ing.com/asset/e2274273-96dc-48a1-9c2c-17f9311aed5e/Feedback-Light_Bulb_Outline.svg","publishedAt":"2022-07-04T13:36:06Z","transformBaseUrl":"https://assets.ing.com/transform/e2274273-96dc-48a1-9c2c-17f9311aed5e/Feedback-Light_Bulb_Outline","type":"image","updatedAt":"2023-12-21T16:10:32Z","width":32},"paragraphs":[{"componentType":"paragraph","richBody":{"value":"<p><span><span><span>We’ve put together 5 important questions. From how much you can repay early without incurring charges to questions about taxes, whether there’s an ideal repayment amount and when making an early repayment may be less sensible.</span></span></span></p>"},"textLinks":[{"text":"Read more","url":"/en/personal/mortgage/your-mortgage/5-questions-about-making-early-repayments"}]}],"title":{"value":"<p>Explore 5 important questions</p>"}}],"componentType":"actionAccordion"}]},"hasMacro":false,"id":"8f063c44-183d-4114-8c0e-522dfae5f57d","localeString":"en-GB","mainHeaderZone":{"backLink":{"textLink":{"text":"Your ING mortgage","url":"/en/personal/mortgage/your-mortgage"}},"componentType":"campaignHeader","coreHeader":{"body":"We recently carried out research among homeowners with an interest-only mortgage. We spoke to 12 homeowners. They told us their reasons for choosing, or not choosing, to reduce their debt.","campaignTitle":{"primaryTitle":"Why others","secondaryTitle":"do or don’t make","tertiaryTitle":"early repayments"},"headerImage":{"extension":"jpg","original":"https://assets.ing.com/asset/ea42adec-0b7d-4fa6-99e3-f48de07678f5/MAN-LYING-ON-BED-IN-BEDROOM.jpg","publishedAt":"2024-05-13T09:30:29Z","transformBaseUrl":"https://assets.ing.com/transform/ea42adec-0b7d-4fa6-99e3-f48de07678f5/MAN-LYING-ON-BED-IN-BEDROOM","type":"image","updatedAt":"2024-05-13T09:32:39Z","width":4096},"subtitle":"Research into experiences with interest-only mortgages"}},"publishDate":"2026-11-13T11:25:24.261+01:00"}}