| Quote: | |  | |
| I got a very odd look from 2 banks when I wanted to pay off my loan in 15 years, I was told thats not done like that in Switzerland.
One of the lenders wanted to sell some insurance backed nonsence saying it must be for 30 years minimium, I said is that how long it will take to get my money back after your commission! | |
| | |
i guess it depends on who you speak to. leaving it outstanding seems to be common here.
as is leaving it outstanding and having a separate amortisation vehicle (invest in another product e.g. 3rd pillar) then you have benefit of tax deduction on the interest, tax deduction on the 3rd pillar, tax free income on the 3rd pillar and you amortise at the end.
the guy i spoke to asked if i wanted to leave it outstanding or pay it off asap. i guess he's met more UK and US people who like to be mortgage free