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Buying a second home

Buying a second home can be the dream of a lifetime. By the sea, in the mountains or in the countryside, we can all aspire to something.

How to fund your project ?

Owning a home is often a goal or even a dream for many families. Careful preparation is needed if it is to become a reality. Property is a serious long-term investment requiring a reliable financial partner to help you identify your needs and analyse your financial situation.

  • Different types of loan

    You can choose between variable-, revisable- and fixed-rate loans with all the benefits that each one presents.

    Variable-rate loan

    A variable-rate mortgage is the type of financing that most closely tracks changes in market rates. Interest rate fluctuations affect your monthly repayments, which will be adjusted accordingly (depending on whether money market rates rise or fall).

    Fixed-rate loan

    Completely independent of fluctuations in the market during the period chosen, this mortgage offers a fixed rate throughout the mortgage over a maximum period of 20 years. With this option, you have complete security against a rise in market interest rates. However, you will not benefit from any falls in market rates. Your monthly repayments remain constant until the loan matures. You avoid unpleasant surprises and can plan your family budget with more certainty.

    Revisable-rate loan

    Flexible and very popular, the revisable-rate mortgage allows you to keep the interest rate unchanged for a given period, at the end of which you decide whether to enter into a fixed-, variable- or revisable rate period.

    Capped-rate loan

    An innovative, efficient financing plan offering exclusive benefits:

    • An attractive initial rate;
    • Monthly repayments that fluctuate in line with the reference rate (falling if the reference rate falls);
    • The guarantee that for a given period (e.g. the next 10 years), your interest rate will not exceed a predetermined limit.

    Simulate your loan

  • Insurance

    Mortgage protection insurance

    In the event of death, your family will be able to continue living in the property without having to worry about its financing. Mortgage protection insurance is a secure solution as it covers the complete or partial repayment of your outstanding mortgage.

    With your relationship manager you will establish:

    • The amount to be insured;
    • The lease term;
    • The payment frequency.

    You will also have the option of taking out:

    • Supplementary accident insurance;
    • Supplementary disability insurance.

    Endowment policy

    This endowment type of insurance provides for payment of:

    • Either guaranteed death benefits plus profit-sharing if the policyholder dies before the policy matures;
    • Or a guaranteed sum plus profit-sharing when the policy expires, if the policyholder is still living at that date.

    Fully comprehensive home insurance

    With fully comprehensive home insurance, your property is covered against major risks including fire. Optional cover can be taken out for specific needs. Policies available from different insurance companies generally protect against the following risks:

    • Family civil liability;
    • Window breaks and cracks;
    • Property civil liability;
    • Electric and electronic fittings;
    • Legal protection;
    • Home insurance;
    • Fire and related perils;
    • Theft;
    • Storm, hail, pressure from snow and ice;
    • Earthquake;
    • Electrical damage;
    • Consequential loss;
    • Water damage;
    • Contents damage.

    Mortgage protection insurance

    When you take out a mortgage it is important to buy insurance to protect your family. Depending on the choices you make, this policy will result in our paying off your mortgage in the event of your death. Your debt can therefore be partially or fully repaid. If you opt for periodic premiums, you can deduct them from your taxable income within the limit of EUR 672 per year and per household member.

    Pre-financing of a Wüstenrot mortgage savings plan

    This is a BIL home loan incorporating a Wüstenrot mortgage savings plan.

    It is a tax enhanced loan:

    • Deduction of debit interest (same limit as for a standard mortgage);
    • Tax deduction of payments made under the Wüstenrot mortgage savings plan (up to EUR 672 per household member);
    • Guaranteed fixed rate throughout the term of the plan.

    Find out more

  • BIL Immoplus Green

    It is now important to consider the environment when building or renovating a home. BIL supports you in your eco approach, allowing you to protect your budget from constantly rising energy costs.

    Reduced interest rates available with Immoplus Green

    • Photovoltaic solar panels;
    • Energy-related installation or renovation;
    • Construction of a passive or low energy home.

    Contact us

  • Check-list

    Here is a checklist of things to consider when buying a property:

    Banking issues

    • Type of interest rate
    • Mortgage insurance
    • Fully comprehensive home insurance

    Other financial issues

    • Personal contribution
    • Guarantees
    • Monthly repayments according to your income

    Other costs arising from a property purchase

    • Notary’s fees
    • Registration duty
    • Land tax
    • Local taxes
    • Home insurance

    Expert involvement

    • Notary
    • Bank adviser

Useful Addresses