Go Back   English Forum Switzerland > Help & tips > Housing in general  
Reply
 
Thread Tools Display Modes
  #61  
Old 15.03.2015, 11:02
Belgianmum's Avatar
Forum Legend
 
Join Date: Jan 2010
Location: Neuchâtel
Posts: 11,511
Groaned at 180 Times in 162 Posts
Thanked 17,910 Times in 7,581 Posts
Belgianmum has a reputation beyond reputeBelgianmum has a reputation beyond reputeBelgianmum has a reputation beyond reputeBelgianmum has a reputation beyond reputeBelgianmum has a reputation beyond reputeBelgianmum has a reputation beyond repute
Re: housing prices... where are they going?

Quote:
View Post
The 3rd Pillar has nothing to do with an employer. If married, you are taxed together jointly and you deduct both you Pillar 3s off your combined income.
Quote:
View Post
No, you cannot, I checked. Otherwise, I would have done so.

Tom
Agree with Tom. It's the same here in Neuchâtel and believe me I checked too.
Reply With Quote
This user would like to thank Belgianmum for this useful post:
  #62  
Old 15.03.2015, 11:12
Forum Legend
 
Join Date: Feb 2008
Location: Zurich
Posts: 3,466
Groaned at 17 Times in 15 Posts
Thanked 1,992 Times in 1,185 Posts
CH_Me has a reputation beyond reputeCH_Me has a reputation beyond reputeCH_Me has a reputation beyond reputeCH_Me has a reputation beyond repute
Re: housing prices... where are they going?

Quote:
View Post
No, you cannot, I checked. Otherwise, I would have done so.

Tom
My mortgage contact has a clause that we pay via the Pillar 3 account. Strange if we couldn't do this when we don't have a job, since we have both been in that situation the past 10 years.

Beobacher:
http://www.beobachter.ch/geld-sicher...-3a-einzahlen/ -


According to this link, anyone earning an income can pay in, the pillar 3b anyone can pay in. Retired people can only pay up to 5 years after retirement age if still working though.
https://www.ch.ch/en/3rd-pillar/
Reply With Quote
  #63  
Old 15.03.2015, 11:22
st2lemans's Avatar
Forum Legend
 
Join Date: Dec 2010
Location: Lugano
Posts: 28,881
Groaned at 1,976 Times in 1,495 Posts
Thanked 34,269 Times in 16,305 Posts
st2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond repute
Re: housing prices... where are they going?

Quote:
View Post
According to this link, anyone earning an income can pay in
Umm, that's what I said.

(well, I said employed, when I meant had an income, obviously retired people and people on disability or other pension can)

If your spouse has no income, then they can't.

Tom
Reply With Quote
  #64  
Old 15.03.2015, 11:31
Forum Legend
 
Join Date: Feb 2008
Location: Zurich
Posts: 3,466
Groaned at 17 Times in 15 Posts
Thanked 1,992 Times in 1,185 Posts
CH_Me has a reputation beyond reputeCH_Me has a reputation beyond reputeCH_Me has a reputation beyond reputeCH_Me has a reputation beyond repute
Re: housing prices... where are they going?

Quote:
View Post
Umm, that's what I said.

If your spouse has no income, then they can't.

Tom

Tom, you said "And provided both are employed."

The link I sent said as long as you have an income.

I was thinking that your wife might have a source of income without being employed. Income from investments, self employment, pension ect.

I am the only person on my side of the family with an actual job that I have to turn up to.
Reply With Quote
  #65  
Old 15.03.2015, 11:33
st2lemans's Avatar
Forum Legend
 
Join Date: Dec 2010
Location: Lugano
Posts: 28,881
Groaned at 1,976 Times in 1,495 Posts
Thanked 34,269 Times in 16,305 Posts
st2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond repute
Re: housing prices... where are they going?

Quote:
View Post
I was thinking that your wife might have a source of income without being employed. Income from investments, self employment, pension ect.
Nope.

Tom
Reply With Quote
  #66  
Old 15.03.2015, 11:47
Belgianmum's Avatar
Forum Legend
 
Join Date: Jan 2010
Location: Neuchâtel
Posts: 11,511
Groaned at 180 Times in 162 Posts
Thanked 17,910 Times in 7,581 Posts
Belgianmum has a reputation beyond reputeBelgianmum has a reputation beyond reputeBelgianmum has a reputation beyond reputeBelgianmum has a reputation beyond reputeBelgianmum has a reputation beyond reputeBelgianmum has a reputation beyond repute
Re: housing prices... where are they going?

Quote:
View Post
Tom, you said "And provided both are employed."

The link I sent said as long as you have an income.
Your original post didn't make it clear that both spouses had to have an income. You made it sound as though a married couple could each deduct the third pillar contribution just by virtue of the fact that they were married.

Your later post with the links was what made it clear that both spouses need an income of some sort.
Reply With Quote
The following 2 users would like to thank Belgianmum for this useful post:
  #67  
Old 15.03.2015, 12:19
Forum Legend
 
Join Date: Sep 2006
Location: SZ
Posts: 10,380
Groaned at 29 Times in 25 Posts
Thanked 23,766 Times in 7,497 Posts
meloncollie has a reputation beyond reputemeloncollie has a reputation beyond reputemeloncollie has a reputation beyond reputemeloncollie has a reputation beyond reputemeloncollie has a reputation beyond reputemeloncollie has a reputation beyond repute
Re: housing prices... where are they going?

Quote:
View Post
My TI tax form states 60-70%, so 65% sounds right.

And the assesd value for tax purposes as more like 40% of market value, or less. (MIL's house was assesd at 600k, but sold for 1.8m)

Tom
Tom's right. It's a percentage of assessed value, not market value, which is usually quite a bit lower.

One of the Quartier houses is rented, a similar house to ours. IIRC, our Eigenmietwert, figured on a percentage of that assessed value is less than half of what that house is being rented for at market rates. And of course we do not pay that amount, but only tax on that amount.

I may grumble about many things wrt my white elephant of a house, but Eigenmietwert is not one of them. It really is a small amount especially when most people can almost fully offset it against mortgage interest. Additionally, Eigenmietwert declines when your tax bracket declines, something many will come to appreciate after retirement. (Contrasted with the houses I am looking at in the US, hit with 5 digit property taxes per year, forever, one reason seniors are often forced to give up their homes.)
Reply With Quote
The following 3 users would like to thank meloncollie for this useful post:
  #68  
Old 15.03.2015, 14:24
Forum Legend
 
Join Date: Apr 2008
Location: Zurich
Posts: 3,482
Groaned at 62 Times in 42 Posts
Thanked 3,608 Times in 1,962 Posts
rainer_d has a reputation beyond reputerainer_d has a reputation beyond reputerainer_d has a reputation beyond reputerainer_d has a reputation beyond reputerainer_d has a reputation beyond reputerainer_d has a reputation beyond repute
Re: housing prices... where are they going?

Quote:
View Post
Your original post didn't make it clear that both spouses had to have an income.
Actually, it was me who made that claim.

Not being married, I never spent that much time investigating this seemingly small semantic difference...

I stand corrected.
Reply With Quote
This user would like to thank rainer_d for this useful post:
  #69  
Old 15.03.2015, 15:25
litespeed's Avatar
Forum Veteran
 
Join Date: Feb 2006
Location: Dietikon ZH
Posts: 1,961
Groaned at 17 Times in 14 Posts
Thanked 2,598 Times in 798 Posts
litespeed has a reputation beyond reputelitespeed has a reputation beyond reputelitespeed has a reputation beyond reputelitespeed has a reputation beyond reputelitespeed has a reputation beyond reputelitespeed has a reputation beyond repute
Re: housing prices... where are they going?

You guys should all be glad you ain't trying to buy a house in Sydney, Australia. Prices there are skyrocketing daily.
Reply With Quote
This user would like to thank litespeed for this useful post:
  #70  
Old 15.03.2015, 19:32
Forum Veteran
 
Join Date: Oct 2014
Location: Lausanne
Posts: 859
Groaned at 11 Times in 9 Posts
Thanked 378 Times in 266 Posts
Tinkiwinki has earned some respectTinkiwinki has earned some respect
Re: housing prices... where are they going?

Quote:
View Post
I suspect so, when you can make 10-15% compound with equities over 10,20,30,40,50,100 years WTF will anybody lend money below 5% long term?
we have been anticipating higher interest rates for years now as most think all the QE and bond buying will have to lead to inflation one way or the other. In the meantime interest rates haven't risen at all and are a all time lows.

The Japan example is an important one. The demography is even more tilted to old people and they have now lost a generation with low growth and low interest rates. There is no easy way out even with the new Abenomics.

The alternative is Zimbabwe, hyper inflated and abandoning the Zimbabwean Dollar in favour of the USD.

If there is a choice I rather opt for the Japanese example...
Reply With Quote
  #71  
Old 15.03.2015, 19:46
Guest
 
Posts: n/a
Re: housing prices... where are they going?

Perhaps few here will remember the days in the UK where mortgage interest rates went up to 19.5% (we had just moved towns and over-stretched the budget as I was due to give birth to second child... and we were gazumped on another house). So many of our friends ended up in negtive equity too- and it broke the back of those who had to sell for whatever reason- moving for job, or separation/divorce.

Let's hope it won't come to that here (well 19.5 % is unlikely)...
Reply With Quote
This user would like to thank for this useful post:
  #72  
Old 15.03.2015, 20:26
Forum Legend
 
Join Date: Apr 2008
Location: Zurich
Posts: 3,482
Groaned at 62 Times in 42 Posts
Thanked 3,608 Times in 1,962 Posts
rainer_d has a reputation beyond reputerainer_d has a reputation beyond reputerainer_d has a reputation beyond reputerainer_d has a reputation beyond reputerainer_d has a reputation beyond reputerainer_d has a reputation beyond repute
Re: housing prices... where are they going?

Quote:
Perhaps few here will remember the days in the UK where mortgage interest rates went up to 19.5% (we had just moved towns and over-stretched the budget as I was due to give birth to second child... and we were gazumped on another house). So many of our friends ended up in negtive equity too- and it broke the back of those who had to sell for whatever reason- moving for job, or separation/divorce.

Let's hope it won't come to that here (well 19.5 % is unlikely)...
I sometimes wonder why the government doesn't just hike the interest rates for real-estate purchases of private persons, if they want to stop that bubble.
As I understood it, the interest rates are so low as to allow companies to borrow money cheaply so that they can finance tools and machinery to produce stuff they can sell.
(Also, to allow the state to borrow for next to nothing, but that is only a side-effect)

I mean, there is already a difference between when I take out a loan for a car, I pay 5-11% and if I take on a mortgage, I get the money for <2%.
When the music stops and everybody wants to sell, they are both pretty worthless after all.
Reply With Quote
  #73  
Old 15.03.2015, 20:46
Forum Veteran
 
Join Date: Jul 2007
Location: Vaud
Posts: 2,386
Groaned at 163 Times in 114 Posts
Thanked 4,696 Times in 1,809 Posts
Mikers has a reputation beyond reputeMikers has a reputation beyond reputeMikers has a reputation beyond reputeMikers has a reputation beyond reputeMikers has a reputation beyond reputeMikers has a reputation beyond repute
Re: housing prices... where are they going?

Quote:
View Post
I sometimes wonder why the government doesn't just hike the interest rates for real-estate purchases of private persons, if they want to stop that bubble.
As I understood it, the interest rates are so low as to allow companies to borrow money cheaply so that they can finance tools and machinery to produce stuff they can sell.
(Also, to allow the state to borrow for next to nothing, but that is only a side-effect)

I mean, there is already a difference between when I take out a loan for a car, I pay 5-11% and if I take on a mortgage, I get the money for <2%.
When the music stops and everybody wants to sell, they are both pretty worthless after all.
Why are rates so low for long term fixes here does anyone know ? It's a real question. The bank gives you the interest rate based on what it thinks is reasonable over the term, making it break even or make a profit at least compared with the base interest rate. So why can you fix now for 15 years for less than 2%. Does it really mean the banks think rates will be that low for that long ? This is a serious question.
Reply With Quote
  #74  
Old 15.03.2015, 21:47
Forum Veteran
 
Join Date: Nov 2007
Location: Vaud
Posts: 1,404
Groaned at 107 Times in 70 Posts
Thanked 1,481 Times in 859 Posts
yacek has a reputation beyond reputeyacek has a reputation beyond reputeyacek has a reputation beyond reputeyacek has a reputation beyond repute
Re: housing prices... where are they going?

Some are. Some find investors who want to lock in at least some positive interest. Insurances probably don't give inflation-adjusted policies so they have a lot of cash which they pump into mortgages - currently the best long term rates are from insurers.
Reply With Quote
  #75  
Old 16.03.2015, 00:48
Phil_MCR's Avatar
Forum Legend
 
Join Date: Oct 2009
Location: Basel
Posts: 13,785
Groaned at 271 Times in 177 Posts
Thanked 16,875 Times in 7,137 Posts
Phil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond repute
Re: housing prices... where are they going?

Quote:
View Post
Why are rates so low for long term fixes here does anyone know ? It's a real question. The bank gives you the interest rate based on what it thinks is reasonable over the term, making it break even or make a profit at least compared with the base interest rate. So why can you fix now for 15 years for less than 2%. Does it really mean the banks think rates will be that low for that long ? This is a serious question.
i'd be interested to know who is taking the risk. but when you look at how low LIBOR is, you might be surprised by where the break-even point is in terms of taking LIBOR or the fix.

see also:

http://www.pimco.com/en/education/pa...asics1-08.aspx
Reply With Quote
This user would like to thank Phil_MCR for this useful post:
  #76  
Old 16.03.2015, 00:58
Hoppy's Avatar
Senior Member
 
Join Date: Aug 2013
Location: Oakland US
Posts: 449
Groaned at 20 Times in 16 Posts
Thanked 361 Times in 228 Posts
Hoppy has a reputation beyond reputeHoppy has a reputation beyond reputeHoppy has a reputation beyond reputeHoppy has a reputation beyond repute
Re: housing prices... where are they going?

Quote:
View Post
You guys should all be glad you ain't trying to buy a house in Sydney, Australia. Prices there are skyrocketing daily.
Or San Francisco.
Reply With Quote
  #77  
Old 20.03.2015, 17:54
Newbie
 
Join Date: Aug 2013
Location: Oregon
Posts: 6
Groaned at 0 Times in 0 Posts
Thanked 3 Times in 1 Post
Bosshard has no particular reputation at present
Re: housing prices... where are they going?

As a retired expat returning to Switzerland is it possible for someone over 65 to get a mortgage in Switzerland for a home with say 45-50% down? Or are mortgages only for those currently employed?
Reply With Quote
  #78  
Old 20.03.2015, 17:58
Guest
 
Posts: n/a
Re: housing prices... where are they going?

It is entirely possible to get a mortgage when you are retired- but only if the value of the house is much higher than the mortgage, so they can get their money back if you 'peg' it, and of course providing your savings and income indicate clearly that you can pay for mortgage and other costs, maintenance, tax, etc, etc, comfortably- even if exchange rates and interest rates + house value (especially if you intend to purchase in areas with very high prices where a 'bubble' may well burst, change significantly

Last edited by Odile; 20.03.2015 at 18:29.
Reply With Quote
  #79  
Old 20.03.2015, 18:28
Guest
 
Posts: n/a
Re: housing prices... where are they going?

Quote:
View Post
Why are rates so low for long term fixes here does anyone know ? It's a real question. The bank gives you the interest rate based on what it thinks is reasonable over the term, making it break even or make a profit at least compared with the base interest rate. So why can you fix now for 15 years for less than 2%. Does it really mean the banks think rates will be that low for that long ? This is a serious question.
Banks refinance with other institutions at a lower rate on a back to back basis. I think it was called "sub prime" or something similar, this is why banks don't let you out of fixed mortgages without paying full penalty.

I can't see rates moving here at all, they are desperate to keep Euro under some semblance of control, and by increasing the interest rate for CHF, people will sell other currencies to buy CHF (not at all what they want/need) plus we already have negative rates that have only just started and i think will continue.

The max mortgate rate is actually written into the constitution after a vote (sometime in the 70's or 80's i think...??)

It is 15% maximum.
Reply With Quote
  #80  
Old 20.03.2015, 18:28
Guest
 
Posts: n/a
Re: housing prices... where are they going?

Quote:
View Post
Why are rates so low for long term fixes here does anyone know ? It's a real question. The bank gives you the interest rate based on what it thinks is reasonable over the term, making it break even or make a profit at least compared with the base interest rate. So why can you fix now for 15 years for less than 2%. Does it really mean the banks think rates will be that low for that long ? This is a serious question.
Banks refinance with other institutions at a lower rate on a back to back basis. I think it was called "sub prime" or something similar, this is why banks don't let you out of fixed mortgages without paying full penalty.

I can't see rates moving here at all, they are desperate to keep Euro under some semblance of control, and by increasing the interest rate for CHF, people will sell other currencies to buy CHF (not at all what they want/need) plus we already have negative rates that have only just started and i think will continue.

The max mortgate rate is actually written into the constitution after a vote (sometime in the 70's or 80's i think...??)

It is 15% maximum, don't even think about it !
Reply With Quote
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Where is the housing market going...? cmmi Housing in general 24 18.12.2013 13:09
Free, Confidential STD Clinics in Switzerland. Are there any? Where are they? coverthomas Family matters/health 17 22.08.2012 21:58
Aisha the lynx, are they going to kill her too? Sparrowgirl Swiss politics/news 16 11.09.2010 22:45
Are they going to send me and my baby home? pinay_pie Permits/visas/government 93 05.06.2008 10:22


All times are GMT +2. The time now is 03:56.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0