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On 9 December 2020, the Minister of Finance and Febelfin adopted a second Charter on the deferral of payment for mortgage and business credits, in view of the economic consequences of the Covid health crisis. The second lockdown had, and would continue to have, economic repercussions for many households and businesses.
Minister Vincent Van Peteghem and Febelfin announced measures similar to those of the first lockdown: a payment deferral on credits granted to individuals and businesses. Those who meet the conditions may benefit from an additional deferral of 3 months from 1 January 2021, provided the total deferral obtained does not exceed 9 months. In other words, the deferrals granted under the first and second Charters, taken together, may not exceed 9 months. To be valid, the request had to be submitted by 21 March 2021 at the latest. The conditions are, in substance, the same as those imposed previously.
For individuals
Individuals seeking a deferral on their mortgage credit had to: be financially affected by the Covid-19 crisis; have no arrears on their instalments as at 1 September 2020 and not be registered with the National Bank’s Central Individual Credit Register; have contracted the mortgage credit to finance their sole home and main residence; and hold no more than EUR 25,000 in movable assets on their current and savings accounts or in an investment portfolio.
For businesses
Businesses had to demonstrate: payment difficulties linked to the health crisis (for example, a fall in turnover or recourse to temporary or full unemployment); a permanent establishment in Belgium; no arrears as at 1 September 2020 on current credits, taxes or social security contributions (a deferral remained possible where arrears were under 30 days at 30 September 2020); and that they had met their contractual obligations towards all banks during the 12 months preceding 31 August 2020 and had not been subject to an active credit-restructuring procedure before that date. The credits covered are those with a fixed amortisation plan, cash credits and fixed advances, provided they were granted before 1 April 2020.
This article is a translation. Only the French version is authoritative. It is provided for information purposes and does not constitute legal advice.
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