Real Estate Financing / Equity
The mortgage amount typically covers 75 to 80% of the value or purchase price of the property. 20 to 25% are missing at your expense, have equity.
To these are added the costs of ownership transfer tax (municipal, cantonal, notary fees), between 4 and 5% depending on cantons.Certains financial institutions proposing to add the cost of transferring the purchase price and to have 20% of the total. It is an alternative when you do not have enough capital, but this is not the best rate marché.Pour construction, generally, banks include transfer costs of land in the total cost.
Equity may consist of:
Cash savings available on current account, savings account or cash. On savings accounts, a monthly withdrawal limit is set, in principle 10'000 .-, I suggest you quickly make your withdrawals if not you may pay a surcharge.
Titles
Sale or pledge of securities (stocks, bonds, units of investment funds, ...)
Financing with the help of the 2nd pillar
Ordinance on encouraging home ownership ( OEPL) authorizes you to use your 2nd pillar capital to finance your home. You have two options: either you remove or put you pledge capital available from your pension fund. Talk to your pension fund for the exact amount of capital available for your second pillar.
If payment Early
Creating equity through early payment of your second pillar In this case, you have your pension fund to pay your available capital, which will direct you to complete your personal contribution to equity. The share paid to you must be declared. This causes a deficiency in foresight that you must be able to compensate by using a solution of private provision . The taxes you pay on the amount payable will be calculated regardless of your income and can not be paid with the amount withdrawn. This means that separate amount must be provided for this purpose. These taxes can represent up to 17% of the amount levied (Swiss average 10%) by borough, the township and the importance of the sum. The amount levied also included in the land register. You have to book well in advance: as pension funds, the time required for payment of money may be several months.
Upon withdrawal of the benefit vested (possible)
Spousal consent is required.
The minimum withdrawal is 20'000 .- and that all 5. If your credit is less than 20'000 .- It is possible under certain pension funds, to pay the difference to withdraw the minimum amount.
A statement entered in the land register.
A tax is levied.
If you sell your property, the advance payment must be repaid, and taxes are refunded if the application is filed within 3 years.
In case of pledge (recommended)
Spousal consent is required.
A statement entered in the land register.
Policyholders aged over 50 can obtain a maximum the vested benefits to which he was entitled at the age of 50 years or half the vested benefits to which they are entitled at the time of payment.
Financing with the help of the third pillar
A police pension established under the third pillar can also be valuable for the purchase of a property. Provident Capital formed may be used in this case in two ways: you withdraw the amount that you lack to cover your capital needs. Or you put this amount pledged to get a mortgage more high.
Provident Capital Pillar 3: advance payment or pledge?
Creating equity through early payment of pillar 3a ( possible). You can withdraw prematurely
money paid for your pillar 3a to buy a house staff. This is possible every five years. Capital debited from your pillar 3a must be declared. Complete
its own funds through a pledge ( recommended).
You can pledge your life insurance 3a to obtain a mortgage more high. It also allows you to obtain financing amounting to more than 80% of the purchase price.
The advantage for you: you let your money work for you, without paying taxes. Possible with a police general who has a favorable interest rate and attractive investment opportunities and guaranteed through the selection of funds which come from the largest banks and institutional investment funds in Switzerland and Europe ( Luxembourg, Liechtenstein ..)
Loan near
To avoid future conflict, it is essential to prepare a written contract. The duration and rate of interest on the loan should be included. This rate may be lower than those in force.
Interest is tax deductible just like mortgage interest. He who gives the loan must add the interest to his income imposables.Autre option often overlooked: a loan granted by the employer
Increase in mortgage debt of a close
A friend already owns and has an amortized part of its debt. We can increase the loan and get the cash available for your money own, without this third person is injured, however. You are responsible to pay additional interest.
The lender will indicate on its tax return an extra income (payments) and may deduct all the interest, so we balance the income tax. As for capital, debt is more important then the taxes will be reduced.
Building land and personal work
As part of a structure, you use two ways to obtain additional funds propres.Le Land of which you are already owner by purchase, gift, inheritance or other advance. The purchase price or market value of the said land will be retained as a fund propres.Les personal work done in your home.
Tips and strategies
You have more than 20% of the equity and invest it you want your property to reduce debt and mortgage interest.
If mortgage interest rates are high, it's a good reason. Currently (2005), rates are historically low. By reducing the debt, you reduce the interest as described above. Consequently, the rental value will be greater than interest expense, so your taxes augmenteront.La strategy to adopt is to maintain a maximum debt to deduct more interest from your taxable income, which diminura your taxes, your taxes! . The extra capital will be invested in a guaranteed return could be lower mortgage rate. Eventually, compound interest investment will cover the interest expense of increasing debt.
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