Profession

Mortgage credit brokers in Belgium: FSMA registration

Mortgage credit intermediaries must be registered with the FSMA, with their enterprise number, not a licence number. Categories, how to check, what to ask.

Checked on against the sources at the bottom of the page.

In short

Anyone who offers mortgage credit to consumers as an independent, professionally and for a fee must be registered with the Financial Services and Markets Authority (FSMA). The obligation applies to individuals and to companies. The FSMA gives credit intermediaries no registration number of their own: they are registered under their enterprise number. There are 3 categories of mortgage credit intermediary: broker, tied agent and sub-agent. The FSMA pages on this topic that we read are in French and Dutch.

What the mortgage credit broker does

A credit intermediary presents or proposes credit contracts to consumers, helps them prepare the conclusion of those contracts, or concludes them for a lender. According to the FSMA, the broker brings lenders and consumers together without being a tied agent, so has no obligation to place any of its production with a particular lender. The tied agent acts under the full and unconditional responsibility of a lender or a group of lenders. The sub-agent acts under the responsibility of a broker or a tied agent. The categories are exclusive: an intermediary can be registered in only one of them.

Always ask which category your contact belongs to. The register does not tell you which lenders a broker works with: ask in writing. To see what you could borrow, use the borrowing capacity tool, and for what lenders ask of foreign residents, see a mortgage in Belgium for expats.

The title and where to check it

What the rule says. A registration as credit intermediary is valid either for mortgage credit or for consumer credit. An intermediary active in both fields needs two registrations, so check that the one you deal with is registered for mortgage credit. Someone already registered as an intermediary in banking and investment services or in insurance must also apply for a supplementary registration if they carry out these activities.

Who publishes what. The FSMA publishes on its website an updated list of registered intermediaries, searchable by name and/or enterprise number. The list of credit intermediaries that are provisionally authorised is not published.

Where to check. Use the FSMA’s “Check your provider” tool (in French: “Vérifiez votre fournisseur”): fsma.be/fr/verifiez-votre-fournisseur/search. Search one professional at a time, with their enterprise number, and note the date of your check. The FSMA itself warns that the absence of a warning about a firm does not mean it holds the required registration: what matters is whether it appears in the official lists.

Terms of use of the register. The FSMA’s “Disclaimer & Copyright” page (English) reads: “The information available on the FSMA’s websites comes under a Creative Commons Attribution (CC BY 4.0) licence, which allows unlimited use, distribution and reproduction in every medium, provided the original author and source are acknowledged.” It adds: “Visitors are thus free to use the information obtained directly from the websites. This information may be further disseminated or reproduced, provided it is accurately presented and the FSMA is identified as the source.” Payotte nevertheless does not copy the register: the listing sends you to the search tool, and you check.

What it costs

The FSMA states that the remuneration a credit intermediary receives can take different forms (money, benefits in kind, any economic advantage). The pages we read set no tariff and no percentage, so do not assume the price is the same everywhere.

Before signing, ask in writing whether you must pay anything yourself, whether the broker is also paid by the lender, and what happens if the loan is not finally concluded. The loan itself brings other costs that do not depend on the broker: see the purchase cost calculator.

How Payotte chooses the firm

Payotte selects one brokerage firm per municipality, on a published scoring grid based only on public data:

  • only companies, never an individual: no broker is named;
  • a neutral name, with no first name or surname;
  • the title is displayed on the firm’s own website; the listing reads “declared title, checkable with” the FSMA and sends you to its search page;
  • at most 3 listings per enterprise number;
  • the selection is free for the firm and never paid for. Payotte does not check the registration for you: you consult it yourself.

Questions to ask

  • What is your enterprise number, and are you registered for mortgage credit?
  • Are you a broker, a tied agent or a sub-agent? If a tied agent, for which lender?
  • How many lenders do you work with for this type of file?
  • What commissions do you receive from lenders, and will I have to pay anything myself?
  • Can you give me the detail of each offer in writing?
  • Which complaints service can I turn to in case of a dispute?

Frequently asked questions

Is there an FSMA number to ask for?

The FSMA writes that no registration number is given to credit intermediaries: ask for the enterprise number and look it up in the register.

Must a broker really be registered?

Yes, if they act professionally, as an independent and for a fee. The obligation also applies to companies.

What is the difference from a tied agent?

A tied agent works under the responsibility of a lender or group of lenders. A broker is not tied to any lender.

Does the FSMA publish every intermediary?

No: the list of provisionally authorised intermediaries is not published.

What can I do in a dispute?

Ombudsfin handles complaints about financial institutions. Its procedure asks you to complain to the institution concerned first, requires the complaint in writing, and in principle takes 90 calendar days (renewable for the same period depending on complexity).

Sources