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There are many preconceived notions when it comes to real estate finance. We are confronted with this every day. But what is it really about? Today we ask Anna Niendorf, branch manager at MoneyPark in Baar and Zug: Is it really only allowed to use ten percent of the money from the pension fund?
It’s the other way around. Contrary to popular belief, mortgage borrowers must bring in at least ten percent of the property value (lending value) estimated by the bank as equity, which does not come from funds from the second pillar, i.e. from the pension fund. The aim of this guideline is to reduce the risk to retirement assets and future pensions. In addition, more equity should be saved at your own risk.
The required ten percent, which may not come from the pension fund, can be the following: savings and securities, money from the 3rd pillar, a gift, your own building plot, construction work that you can do yourself or a Lombard loan. The remaining own funds can therefore come from the pension fund, which can either be withdrawn or pledged. In addition to equity, you should consider the ancillary purchase costs. These mainly consist of notary fees and, depending on the canton, the transfer tax. Such costs may not be financed from the assets of the pension fund. This means that a good 15 percent of the purchase price must be available outside of the pension fund in order to bring in the required equity (ten percent) and cover the incidental purchase costs (approx.
The use of the pension fund is therefore not limited to ten percent. The interaction of all factors is very individual. MoneyPark supports you in analyzing your situation and your real estate project in detail. Together we will determine which equity structure makes sense so that you receive the mortgage you need for the purchase. We will find the best mortgage terms for you and work with you to optimize your tax situation. We make sure that you find the best solution for insurance too: to protect your family and property even in the event of disability or death. And we support you in maintaining the benefits of the pension fund as well as possible.
Anna Niendorf
Branch manager Baar / Zug
[email protected]
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