Mortgages in 2026: rates, deposits and building a strong application

For most buyers in Brussels, the mortgage is the single biggest element of the project – even ahead of the price of the property itself. In 2026, the landscape has changed: rates are rising again, mortgage lending is slowing and banks continue to apply the prudential expectations of the National Bank of Belgium (NBB). This article looks at where rates stand, how much of a deposit you really need, and how to put together an application that inspires confidence in a lender.

Where do mortgage rates stand in 2026?

A clear rise since the spring

According to NBB data cited by ING, the average rate on fixed-rate mortgages of more than ten years stood between 3.29% and 3.34% in the first quarter of 2026, before reaching 3.41% in April 2026, compared with 2.95% a year earlier. For its part, Belfius reports that mortgage rates rose by around 0.35 percentage points in the second quarter of 2026, with most of the increase occurring in April.

Two factors explain this movement:

• Monetary policy. The European Central Bank raised its key interest rates by 0.25 points in June 2026 (source: Belfius).
• Long-term rates. Belgian banks largely base their fixed rates on the yield on the ten-year OLO (Belgian government bond). This stood at around 3.5% at the end of June 2026 and exceeded 4.37% in mid-October 2026, its highest level in more than fourteen years according to press reports.

As OLO yields continued to climb after the summer, the rates on offer in October 2026 are generally higher than the official April average. Barometers published by brokers currently show indicative fixed rates of around 4 to 4.5% over 20 years for a loan-to-value ratio of 80% or less. These are estimates, not offers. The rate you are actually offered depends on your profile as a borrower, the loan-to-value ratio, the term and any linked products (insurance, having your salary paid into the bank).

3.41%: the average rate on fixed-rate mortgages of more than ten years in April 2026, compared with 2.95% a year earlier (NBB data cited by ING).

What the rise means in practice

A change of half a point may seem small, but its effect on the monthly repayment and on the total cost is significant. For a €250,000 loan repaid in constant monthly instalments, excluding insurance and fees:

• ⊞ Annual rate | Monthly repayment over 20 years | Total interest over 20 years | Monthly repayment over 25 years | Total interest over 25 years
• 3.0% | €1,386 | €82,759 | €1,186 | €105,658
• 3.5% | €1,450 | €97,976 | €1,252 | €125,468
• 4.0% | €1,515 | €113,588 | €1,320 | €145,878
• 4.5% | €1,582 | €129,590 | €1,390 | €166,874

Indicative calculation using the constant monthly repayment amortisation formula, with a monthly rate equal to the annual rate divided by 12. Banks sometimes use an equivalent monthly rate, which produces slightly different amounts.

Borrowing capacity follows the same logic. ING estimates that, for the same monthly repayment of €2,000 over 25 years, a household can borrow almost €21,000 less than a year earlier. Belfius puts the figure at around €15,000 less than in June 2025 for a monthly repayment of €1,500.

Fixed, variable or hybrid?

Fixed rates remain the norm: 91% of BNP Paribas Fortis's lending in 2025. Febelfin notes that in 2026, more borrowers are opting for a variable rate, betting on rates falling in future. This choice is only sensible if you can afford the monthly repayment in the worst-case scenario allowed by the contract (the maximum variation, or “cap”).

Deposit and loan-to-value: what the NBB rules say

The prudential expectations in force

Since 1 January 2020, the NBB has applied “prudential expectations” to lenders concerning the loan-to-value ratio (quotité) – that is, the ratio between the amount borrowed and the value of the property (loan-to-value, LTV). These are not absolute prohibitions. They are thresholds that each bank must observe across its total annual lending, with a tolerance margin:

• ⊞ Type of borrower | LTV threshold | Annual tolerance
• First-time buyer (owner-occupied home) | 90% | Up to 35% of volumes may exceed 90%, of which no more than 5% above 100%
• Other buyer of an owner-occupied home | 90% | Up to 20% of volumes may exceed 90%, none above 100%
• Rental investment (buy-to-let) | 80% | Up to 10% of volumes may exceed 80%, none above 90%

The NBB also monitors two “risk pockets”, each capped at 5% of lending: loans with an LTV above 90% and a repayment burden above 50% of income, and loans with an LTV above 90% and total debt above nine times annual income. A bank that exceeds these limits must justify itself to the NBB, on a “comply or explain” basis.

These expectations remain in force. In September 2026, the NBB removed the capital buffer specific to mortgage lending and incorporated it into the general countercyclical buffer, which was raised to 1.25% from 1 July 2026. It did, however, maintain its prudential expectations for new mortgage loans.

What this means for your deposit

In practice, most banks ask buyers to fund at least 10% of the property price themselves, plus the acquisition costs. For a buy-to-let investment, the expected deposit is generally at least 20%. First-time buyers retain slightly more flexibility, but financing above 90% remains the exception, in practice reserved for the strongest profiles.

In reality, the average loan-to-value ratio is much lower. According to BNP Paribas Fortis, it was 66% across its 2025 lending: 79% for borrowers under 30 and 36% for those over 55.

Don't forget acquisition costs in Brussels

Your deposit must cover the costs as well as the unfinanced portion of the price. In the Brussels-Capital Region, registration duties (droits d'enregistrement) amount to 12.5% of the price. When you buy your first home, intended to become your main residence, an abatement (abattement) exempts the first €200,000, a maximum saving of €25,000, provided the price does not exceed €600,000. Among other conditions, you must not own any other home outright, must register your domicile there within three years and must live there for five years without interruption.

Example for a €300,000 flat, close to the average price of a flat in Brussels (€301,666 over the first nine months of 2026 according to the notaries' barometer):

• registration duties with the abatement: (€300,000 − €200,000) × 12.5% = €12,500;
• on top of this come the notary's fees and costs for the purchase deed, as well as the costs of the mortgage deed (acte de crédit), which you can estimate using the notaire.be simulator;
• with a 90% loan-to-value ratio, the minimum deposit is therefore €30,000, plus all of these costs.

For a new-build flat sold with VAT, or for a property that does not meet the conditions for the abatement, the calculation is different. Your notary can provide you with a precise simulation.

Building a strong application: the method

A bank assesses three things: your repayment capacity, the stability of your income and the value of the property that serves as security. A well-prepared application is processed faster and puts you in a better position to negotiate.

1. Work out your repayment capacity before you start looking

• Add up your regular net income and all your fixed outgoings, including any existing loans (car finance, instalment loans, credit facilities).
• Keep a safety margin. The NBB regards applications where the repayment burden exceeds 50% of income as higher risk, and a bank will only approach that level for high earners.
• Ask two or three lenders, or a broker, for a simulation before signing a preliminary sale agreement (compromis de vente).

2. Gather your supporting documents

• Your last three payslips and your latest tax assessment notice (avertissement-extrait de rôle). If you are self-employed, your last two or three sets of accounts and a certificate from your accountant.
• Bank statements showing the source of your deposit (savings, a gift, the sale of a property) and your ability to save each month.
• Your employment contract. A permanent contract, with any probationary period completed, makes things considerably easier.
• Details of the property: the preliminary agreement or offer, the EPB certificate (certificat PEB) and, for a new-build or a property renovated by a developer, the specifications and delivery schedule.

3. Focus on the quality of the application, not just the figures

• A clean banking history. Avoid overdrafts and new consumer loans in the months before you apply.
• A deposit above the minimum. Moving from a 90% to an 80% loan-to-value ratio often gives you access to a better rate band.
• A financial cushion. Don't put all your savings into the deposit. Banks like to see funds still available after the purchase, and they protect you if the unexpected happens.
• The property's energy performance. Some banks offer better terms for energy-efficient homes, such as a rate reduction or a longer term. Ask for this explicitly, as a good EPB certificate can also improve your financing.

4. Compare the overall offer, not just the rate

Compare the APRC (annual percentage rate of charge – TAEG in French), which includes compulsory costs, and the conditions attached to the rate: mortgage protection insurance (assurance solde restant dû), buildings insurance, having your salary paid into the bank. A rate reduction tied to bundled products is only worthwhile if those products are competitive. Check, too, how long the offer remains valid. When rates are rising, a firm offer valid for several months is valuable, particularly if you are buying off-plan or with deferred delivery.

5. Plan ahead for the timetable

The preliminary sale agreement generally includes a condition precedent (condition suspensive) that you obtain a mortgage, with a limited deadline. To avoid being caught short, have your application prepared – or even obtain an agreement in principle – before making an offer.

This article is for information only and is no substitute for personalised financial or legal advice. Rates and conditions change quickly. Before making any decision, consult your bank, an authorised mortgage broker and your notary.

Sources

• ING Think, “Belgian housing market starts 2026 strong, but underlying dynamics soften”, 19 June 2026 (NBB rate data): think.ing.com
• Belfius / Immoweb, Pricemeter Q2 2026: belfius.be
• National Bank of Belgium, prudential expectations for mortgage loans (LTV thresholds and tolerances): nbb.be
• SUERF Policy Brief, “Nudging without forcing: do soft non-binding loan-to-value limits work? Evidence from Belgium”, 2026: suerf.org
• Brussels Morning, “National Bank Keeps Capital Buffer at 1.25%”, 25 September 2026: brusselsmorning.com
• Febelfin via La Libre / Belga, « Les crédits hypothécaires en baisse au deuxième trimestre », 28 July 2026: lalibre.be
• BNP Paribas Fortis, mortgage press conference, 5 February 2026: PDF document
• 21 News, ten-year OLO yield above 4.37%, 20 October 2026: 21news.be
• be.brussels, abatement on registration duties: be.brussels
• Notaire.be, property barometer for the 3^rd quarter of 2026, 13 October 2026: notaire.be

Planning to buy in Brussels?

Living Home Promotion acquires older buildings in Brussels and has them fully renovated by its partner Next Homes. We currently have flats available in Woluwe-Saint-Lambert, Forest and Uccle. If you are arranging your financing, discover our property projects. You can also ask us for the documents your bank will need, such as the specifications and timetable for each project.