A group of top executives from the major Belgian banks gathered last night to finalize a scheme to give breathing room to families in need of money due to the derailed energy prices. They will do that by adjusting the credit terms for those families.
The bankers point out that the solution cannot be the same as during the corona pandemic. At that time, companies and shops had to temporarily close and there was a reasonable estimate of how long the crisis would last. It was then assumed that six difficult months. Nobody dares to predict how long the energy crisis will last. It cannot be ruled out that it will take two to three years.
Because of this uncertainty, the banks will work with interim evaluations. The starting point is for affected families to get through the winter. If you find yourself in need of payment, you will temporarily not have to make any capital repayments to your bank. The banks will extend the term of the home loan.