House purchase while on unemployment... - Page 2

plm987sdf · #21 11.03.2021, 09:01

	Quote:	eyebeebe
	Not true. I took our more than 10% of the purchase price from my pension. 10% is the amount that you need to put in of your own non-pension funds. I‘m not aware of there being an upper amount on how much pension you can use, but the withdrawal tax on a big lump sum will be noticeable.

Oh, thanks for that tip.. That's good to know..!

st2lemans · #22 11.03.2021, 09:12

	Quote:	eyebeebe
	10% is the amount that you need to put in of your own non-pension funds.

Or more.

3p counts as non-pension funds, BTW.

Tom

cremebrulee · #23 11.03.2021, 09:29

	Quote:	eyebeebe
	Not true. I took our more than 10% of the purchase price from my pension. 10% is the amount that you need to put in of your own non-pension funds. I‘m not aware of there being an upper amount on how much pension you can use, but the withdrawal tax on a big lump sum will be noticeable.

Yes, you can even drain your pension fund to buy a property. Whether it is wise to do so, is another question.

fatmanfilms · #24 11.03.2021, 09:36

	Quote:	cremebrulee
	Yes, you can even drain your pension fund to buy a property. Whether it is wise to do so, is another question.

The return from most Swiss pensions is so poor, there would be very little in it.

p42 · #25 11.03.2021, 13:22

The subject was house purchase. I would not recommend buying an apartment in Switzerland, especially if you are a foreigner. It is all too easy to upset someone, your noisy English toaster after 10pm etc. I just see it ending badly, you thinking extortionate block management fees are unreasonable, etc.

HickvonFrick · #26 11.03.2021, 18:18

	Quote:	cremebrulee
	Yes, you can even drain your pension fund to buy a property. Whether it is wise to do so, is another question.

And the answer, in my view, is resoundingly a yes. At least if you aren't close to retirement.

Phil_MCR · #27 11.03.2021, 19:58

	Quote:	HickvonFrick
	And the answer, in my view, is resoundingly a yes. At least if you aren't close to retirement.

Not sure I would agree. The mortgage interest rate is currently <1% so your return on investment by reducing mortgage is very low. On the other hand, you are subject now to higher wealth taxes which can be more than the post-tax interest savings.

p42 · #28 11.03.2021, 20:36

Have you got a cat Phil? Has the OP got a cat, dog (that bites people occasionally maybe)? Ask your pet. Should Daddy/Mummy reduce their mortgage by... Pets are generally smarter than their owners...