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Old 19.07.2009, 10:52
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Re: Paying Rent on your own House???????????

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I was told about when you have your house paid off, some type of government psychos come to your house and try to tell you to pay rent in your own house. What is going on here? Are these some type of totalitarian psycho commies?
Whoever told you that has no idea what they are talking about.

You will find more details by searching these forums, but in short:
- Swiss mortgages are usually not paid off. At least the one on up to 65% of the value of the property which is interest only
- this interest-only payment can be offset against the Eigenmietwert (notional rental value of the property as valued by your local community (the "totalitarian psycho commies"?) - much like the UK's former rates and now council tax system)
- your property will be part of your wealth and as such mildly taxed, thus keeping a % of its value as a mortgage loan is also a (small) advantage...
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