Mortgages & real estate
Mortgages & real estate
  • Fixed-rate mortgages
  • Variable-rate mortgages
  • Home ownership
  • Financing
  • Repayment
  • Mortgage life insurance
  • Mortgage & Real Estate

    Suissepool will help you determine what home you can afford, and what type.

    Fixed-rate mortgages

    With a fixed-rate mortgage, you know exactly how much interest you will be paying over the loan term. The mortgage cannot be terminated during the term. If you sell the property, you can be released from the mortgage early for a fee.

    Variable-rate mortgages

    Interest rates on variable-rate mortgages depend on market conditions and so may go up or down. The mortgage may be terminated at any time with six months' prior notice.

    Home ownership

    Home ownership is one of the pillars in your retirement plan. You should consider the following issues when purchasing a home:

    Financing homes with retirement capital

    Pillar 3a assets, pension fund capital or vested retirement assets may be used as equity – either in the form of a withdrawal or a pledge – to finance the purchase, construction or refurbishment of a property.

    Repayments on annuity and pension mortgages

    With an annuity mortgage, you repay your second mortgage in instalments over 10 or more years. This reduces your principal, interest deduction and tax deduction.

    With a pension mortgage, you make regular payments into a Pillar 3a retirement account and repay the entire second mortgage in one balloon payment. The 3a account earns interest at an attractive rate, while the 3a contributions are tax-deductible.

    Mortgage life and disability insurance

    Illness accounts for 85 per cent of income losses due to health problems. However, the law does not fully cover the income lost in these cases. Homeowners need to think carefully about whether they can continue servicing the mortgage if one spouse dies or becomes disabled. Suissepool will calculate the short- and long-term impacts of death or disability due to illness or injury.