What does this regulate?
01 · UNDERSTAND
In a mortgage credit, the lender receives a mortgage as security. The credit agreement regulates the repayment; the notarial deed records, among other things, the mortgage guarantee. Both documents must be read together.
We examine who the borrower is, who the owner is, and who may possibly provide security for someone else’s debt. These can be different persons. A guarantee can therefore have consequences not immediately apparent from the monthly repayment.
A RECOGNISABLE SITUATION
A parent wants to provide a property as security for a child. The parent does not receive the credit themselves but can expose their property to recourse. This requires a separate discussion.
What requires attention?
02 · CHOOSE CONSCIOUSLY
A mortgage is different from a mortgage mandate. Also, the end of your repayments does not automatically mean that an existing registration has immediately disappeared.
Also explain what was agreed earlier and where doubts remain. A regulation can only be appropriately developed if facts and wishes are clear.
More points to consider for your own situation
03 · YOUR INTENTION
You do not need to be able to answer all this in advance. Your doubts are also a good starting point.
Click on a question for an initial explanation or practical tip. You do not need to have an answer to everything yet.
Who borrows and who provides their property as security?
Make a list of borrowers and owners of the offered security. Mention if someone provides security for another’s loan.
Does the security cover only this loan or also other obligations?
Bring the credit offer and all guarantee conditions. Ask exactly which current and future debts fall under the security.
Is there already a loan or mortgage on the property?
Provide existing credit deeds and a recent overview of the loans. This allows repayment and the position of existing guarantees to be examined.
What happens in case of sale, separation or early repayment?
Ask the bank for an explanation and cost estimate in case of early repayment. Also discuss separately what must happen to the debt and guarantee in case of sale or separation.
Are the own funds and additional costs available?
Set out the purchase price, loan, own funds and additional costs side by side. Also check when each amount must be available.
What do we need, and why?
04 · PREPARATION
Bring what you already have. We will agree on any additional documents the office needs to request. The final list depends on your file.
Identity and contact details
To correctly identify the persons involved and their capacity. Provide identity documents via the channel we agree with you.
Loan offer and bank instructions
To verify amounts, borrowers, conditions and securities.
Deed of ownership or purchase agreement
To determine the encumbered property and the owners.
Details of existing loans
To coordinate ranking, repayment and possible cancellation.
Marriage contract and relevant powers of attorney
To assess who must cooperate or give consent.
Is something missing? Mention it in your application. An initial meeting does not have to wait until you have gathered everything yourself.
What does NotaLegal do for you?
05 · GUIDANCE
We explain the scope of the security, coordinate with the bank and ensure the required mortgage formalities. The bank assesses your loan application; our office handles the legal documentation and explanation.
You will receive a draft for discussion. We review your questions and agree the final version before signing. Afterwards, we explain which preservation, registration or further execution applies to your document.
Know in advance what to expect.
06 · FEES
Statutory tariff where legally established
For deeds with a legally established fee, we apply that tariff. The total settlement also includes, depending on the file, taxes, dossier costs, third-party expenses and VAT. For services without a legally established fee, we agree the remuneration in advance.
You will receive a clear explanation in advance regarding the costs of your transaction. We discuss the services your file requires and distinguish between fee, taxes and other costs.
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Substantive background: notaris.be · Mortgage mandate
General explanation for preparing your meeting. Foreign ties, previous documents and your concrete situation may change the outcome. Sources and legal explanation.