Mortgage loans: Belgians pay too much

5/7/2019

1 in 3 Belgians pays too much for a home loan, reveals a study commissioned by TopCompare.be, a comparison site for banking products, and conducted by Profacts.

Even though for most of us, buying a home is a monumental occasion in our life, one in three Belgians visits only one lender, usually the home banker, to get a price quote for his home loan.

Of those who make the effort to request a proposal elsewhere, four in ten limit themselves to two banks. “However”, according to TopCompare, “anyone visiting multiple banks during his search for a mortgage loan can easily save tens of thousands of euros”.

Sounds logical, and yet still far too few Belgians make the effort. “The visit to the lenders often means taking a day or several days off. And moreover, it is often 2 to 3 weeks waiting for a final answer”.

(*) Survey conducted among 1000 Belgians, representative sample.