What does an outstanding balance?

Get when buying a property look a lot of extra costs. Registration fees, notary fees, legal fees, ... and of course the outstanding balance . Which is not mandatory, but highly recommended if you close a mortgage. To keep the total price within bounds, so you'd better buy an outstanding balance at the correct rate. What does an outstanding balance? Find out here!

What does an outstanding balance? Depends on your loan!

What price you have to pay your outstanding balance, depends to a large extent on your loan. The premium is calculated on the basis of borrowed capital, the interest rate and the term of the loan. Besides the risk of death also plays the payment involved. There are three possibilities:

Single premium: the premium is paid immediately at the conclusion of the credit. This formula can be the most advantageous in the case of taxation on the end of the year.

Constant annual premium about two thirds of the term: slightly more expensive, but you can spread the payments over several years.

Half-yearly, quarterly or monthly premium payments: payments are more spread out. Here be charged for fractioneringskosten.

Compare debt balance insurance with a simulation

Exactly how much you will pay depends on the insurer with whom you are dealing with. To ensure the best value for money , it is therefore important to compare. This can be easily on the basis of an online simulation . Fill the capital borrowed, the interest rate and term of the loan and you will know how much your outstanding balance!

Fixed rate or variable rate

The total cost of an outstanding balance also depends on the tariff you choose. At a fixed rate (also called 'guaranteed rate) rate is guaranteed for the entire duration of the contract. When cheaper floating rate is the rate guaranteed only during the first three years of the term. A rate increase could there be for example, by a dramatic increase in mortality rates. In practice, however, an adjustment of the variable rate rarely ... If you wish any further information on the costs of an outstanding, do not hesitate to contact us . We are ready!