Hyponex
2022-03-29 18:40:47
- #1
Good evening,
well, I don’t see any problems here...
1) Family sale, i.e. the bank would probably finance based on the value of the property here, and not on the purchase price
(PS. it is a sale from the sister, so real estate transfer tax applies here!)
2) if the price is indeed higher than the value at the bank, additional collateral can be provided here.
3) the rental income is unlikely to cover the "calculatory rate of the bank" (currently assumes about 5-6% of the loan amount p.a.)
but I think you live "rent-free" in your own property, so the rate would also be manageable in retirement
so the bank would calculate the capital service here based on the retirement income instead of current income.
(so the €2500 rate should fit for you, minus the rental income)
you have the following options here:
house financing (ideally purchase + the incidental purchase costs as one loan)
house as additional collateral = try to have enough registered so that you come to 60% loan-to-value for the conditions
disadvantage: not all banks want to do one financing with 2 properties, some charge surcharges if they have to examine 2 properties.
Alternatively:
best to ask the tax advisor here:
2 financings (60% on the new house from the sister) 40% + incidental purchase costs on the existing house
advantage: more banks to choose from
disadvantage: clarify the tax deductibility with the tax advisor
well, I don’t see any problems here...
1) Family sale, i.e. the bank would probably finance based on the value of the property here, and not on the purchase price
(PS. it is a sale from the sister, so real estate transfer tax applies here!)
2) if the price is indeed higher than the value at the bank, additional collateral can be provided here.
3) the rental income is unlikely to cover the "calculatory rate of the bank" (currently assumes about 5-6% of the loan amount p.a.)
but I think you live "rent-free" in your own property, so the rate would also be manageable in retirement
so the bank would calculate the capital service here based on the retirement income instead of current income.
(so the €2500 rate should fit for you, minus the rental income)
you have the following options here:
house financing (ideally purchase + the incidental purchase costs as one loan)
house as additional collateral = try to have enough registered so that you come to 60% loan-to-value for the conditions
disadvantage: not all banks want to do one financing with 2 properties, some charge surcharges if they have to examine 2 properties.
Alternatively:
best to ask the tax advisor here:
2 financings (60% on the new house from the sister) 40% + incidental purchase costs on the existing house
advantage: more banks to choose from
disadvantage: clarify the tax deductibility with the tax advisor