Go Back   English Forum Switzerland > Help & tips > Housing in general  
Reply
 
Thread Tools Display Modes
  #1  
Old 12.08.2018, 20:09
Newbie
 
Join Date: Jul 2012
Location: Basel
Posts: 5
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
Golden boy has no particular reputation at present
Buying a second home

Hi, I hope someone can help, I have checked the forum and cannot find the information I am looking for. We purchased a property 2 years ago where we paid the 20% deposit in cash.

We have now found a nicer property we are interested in, however it would not be a good time to sell our current property as there is some major construction work planned in the area that will turn off buyers plus any gains tax etc and so we plan to rent it.

Could we use our pension finds for the deposit on the new place as it will be the property we plan to live in, considering that the place we will rent will have the deposit already paid in cash. With pension funds we could meet the deposit to loan value + affordability.

Many thanks
Reply With Quote
  #2  
Old 12.08.2018, 20:11
aSwissInTheUS's Avatar
Forum Legend
 
Join Date: Nov 2007
Location: Zurich area
Posts: 12,783
Groaned at 99 Times in 88 Posts
Thanked 19,576 Times in 8,681 Posts
aSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond repute
Re: Buying a second home

If you have not invested any pension fund money in your first property or repaid all than it should be possible.

PS: No gains tax if you reinvest the money in a new self lived in home.
Reply With Quote
  #3  
Old 12.08.2018, 22:11
Medea Fleecestealer's Avatar
Forum Legend
 
Join Date: Jul 2011
Location: Switzerland
Posts: 22,314
Groaned at 411 Times in 319 Posts
Thanked 17,348 Times in 9,733 Posts
Medea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond repute
Re: Buying a second home

Bear in mind that only 10% can come from the pension fund now iirc. The rest has to be made up in other ways.
Reply With Quote
  #4  
Old 13.08.2018, 07:32
Forum Legend
 
Join Date: Oct 2014
Location: Nyon
Posts: 5,348
Groaned at 300 Times in 213 Posts
Thanked 7,310 Times in 3,430 Posts
bowlie has a reputation beyond reputebowlie has a reputation beyond reputebowlie has a reputation beyond reputebowlie has a reputation beyond reputebowlie has a reputation beyond reputebowlie has a reputation beyond repute
Re: Buying a second home

Do you have the equity in the first house? The UBS did not ask for a deposit as we owned 60-70% of our first property.
Reply With Quote
  #5  
Old 13.08.2018, 07:36
Forum Veteran
 
Join Date: Aug 2010
Location: Zürich
Posts: 517
Groaned at 4 Times in 3 Posts
Thanked 448 Times in 252 Posts
ThomasSSS has a reputation beyond reputeThomasSSS has a reputation beyond reputeThomasSSS has a reputation beyond reputeThomasSSS has a reputation beyond repute
Re: Buying a second home

Assuming that you still have a mortgage on your first home, have you checked if this mortgage agreement lets you rent it out for a reasonable rate?
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
Swiss resident buying second home in France ipoddle Housing in general 10 21.11.2017 17:35
Buying / Investing in property in UK as a second home krlock3 Housing in general 16 11.07.2017 16:46
Buying a second home, in the UK swissrob General off-topic 11 20.01.2014 21:25
Buying a second home Phil_MCR Housing in general 1 27.06.2013 23:19
Buying A Car Second Hand... matilda blue Transportation/driving 2 07.08.2008 19:13


All times are GMT +2. The time now is 09:08.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0