Financings ETW Student + Engineer

2020-07-12 13:48:16

What does it look like when I have paid off 70% - 80% of the apartment and we would like to buy a house without having saved any money but instead put the money into special repayments. Does the condo then count as equity or can it be used as collateral? I would rather not sell it but rent it out, you never know in old age...

2020-07-12 13:53:39

What does it look like if I have paid off 70% - 80% of the apartment and we want to buy a house but haven’t saved anything, instead we have put the money into special repayments. Does the condominium then count as equity or can it be used as collateral? I would rather not sell it but rent it out, you never know in old age...

If you want to rent it out anyway, repayment is not worthwhile ... because of deducting interest

2020-07-12 13:54:47

That's true, but would the repaid amount be available as equity if you mortgage the apartment? I'm not very knowledgeable on the subject.

2020-07-12 14:01:39

What does it look like when I have paid off 70%-80% of the apartment and we would like to buy a house and have not saved anything but have invested the money in special repayments. Does the condominium then count as equity or can it be used as collateral? I would rather rent it out than sell it, you never know in old age...

If you want to sell, there is bridging finance and it counts accordingly as equity. Completely normal

2020-07-12 14:03:57

Actually, we are reluctant to sell, but if that is an option, why not... It's only about theoretical pipe dreams, we have to buy the apartment first.

2020-07-12 15:18:10

Fantasies sometimes have a kernel of truth.

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Financings ETW Student + Engineer

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