Can I repay my loan early?
Yes, you may always repay your loan early, in whole or in part — it is a legal right. The lender may claim a reinvestment fee, but it is capped by law (Code of Economic Law, Book VII). For a mortgage, the fee is limited to three months' interest on the capital repaid early, at the loan's rate (art. VII.147/11–147/12); on a 3 percent loan, repaying €50,000 early therefore costs about €375. Since 10 June 2024, no reinvestment fee may be charged if you refinance with the same bank, and the dossier fee for that is capped at €175. For consumer credit, the fee is limited to 1 percent of the capital repaid early if more than one year remains, or 0.5 percent if one year or less remains (art. VII.97), and never more than the interest you would otherwise pay. If you repay during a variable-rate period of your consumer credit, no fee is due.
📋 The rules
- Repaying early (in whole or in part) is always a right
- Mortgage: reinvestment fee limited to 3 months' interest on the repaid capital (art. VII.147/11–12)
- Consumer credit: fee max 1 percent (> 1 year remaining) or 0.5 percent (≤ 1 year remaining) (art. VII.97)
- With a variable rate on consumer credit: no fee during that period
- Since 10 June 2024: no mortgage fee when refinancing with the same bank; dossier fee max €175
- Notice period of 10 days; the lender provides the amount and the calculation in writing
🔓 Exceptions
- For a credit facility (revolving credit), no reinvestment fee is due
- The fee may never exceed the interest you would pay without early repayment
- Repay a consumer credit during a variable-rate period and no fee may be charged for that period
⚠️ Penalties & fines
Here the sanction is mostly your own protection. A reinvestment fee above the statutory cap is unlawful: it does not bind you, and you can reclaim the excess. The lender also faces the civil sanctions of Book VII — loss of interest or costs — plus supervision by the FSMA and the Economic Inspectorate. So use the 10-day notification period: the lender must give you the amount and the calculation in writing, and with that sheet in hand you can test the fee against the cap before you sign anything.
📎 Official sources
- FPS Economy · early repayment of consumer credit →
- Wikifin (FSMA) · ending your mortgage early →
- ejustice · Code of Economic Law, Book VII →
❓ Frequently asked
Can I repay my mortgage early?
Yes, always, in full or in part. The bank may ask a reinvestment fee, but it is capped at three months interest on the capital repaid. On a loan at 3 percent, repaying 50,000 euros therefore costs about 375 euros.
What does it cost on a consumer credit?
The fee is capped at 1 percent of the capital repaid if more than a year remains, or 0.5 percent if a year or less remains. It may also never exceed the interest you would otherwise still pay.
Do I pay a fee if I refinance?
Since 10 June 2024 no reinvestment fee may be charged if you refinance your mortgage with the same bank. The administrative cost is capped at 175 euros — refinancing elsewhere is a different story.
What if the bank charges more than the cap?
That part is unlawful and not owed: it does not bind you and you can reclaim the excess. The lender risks the civil sanctions of Book VII, such as the loss of interest or costs. Ask for the written calculation before you accept anything.
Must I give notice in advance?
Yes, there is a 10-day notification period. The lender must give you the amount of the fee and the calculation in writing, so you can use those ten days to check that he stays within the statutory cap.
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