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  #21  
Old 19.06.2011, 21:20
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Re: Is Eigenmietwert being abolished ?

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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
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  #22  
Old 19.06.2011, 21:24
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Re: Is Eigenmietwert being abolished ?

Our bank and tax accountant were horrified when we said we didn't want any mortgage, as the sale of our UK house covered the purchase of the house here!
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  #23  
Old 19.06.2011, 21:30
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Re: Is Eigenmietwert being abolished ?

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By the way, if you feel you are being charged too high a rate for the Eigenmietwert, try and collect ads for similar property as your own in the same area over a few months, such as you find on Homegate. Print them out and once you have a few you can use the data to back up your contestation of the value proposed by the tax authority. I've heard of cases where this has worked.
The eigenmietwert is arrived at as a percentage of the taxable value of the house. If you feel it is very unfair, you can request a new appraisal by the tax department, and they will send someone out. We had this done as our house was not privately owned when we bought it and it had to be done.

I also know of a situatÓon where tax was due on an inherited property and the inheritors were disputing the taxable value of the house so an appraiser was sent along.
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Old 19.06.2011, 21:33
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Re: Is Eigenmietwert being abolished ?

The re-appraisal can of course go both ways.
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  #25  
Old 19.06.2011, 21:36
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Re: Is Eigenmietwert being abolished ?

i found a large document on what i'm guessing is valuation. (see attached)
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File Type: pdf property valuation.pdf (294.5 KB, 492 views)
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