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Step 3: How Can I Finance My Home Conversion?

In just a short time the conversion work can begin. Check
the best way of financing this exciting phase together with
our advisors.

Financing Conversion: Using Pension Capital or through Your Bank

As a rule, you can withdraw pension capital for real estate financing every five years (except for second and vacation homes). If you opt for bank financing, you need to bear in mind the following when increasing the mortgage:

• A renewed credit check will be carried out.
• As in the case of new mortgages, the bank will grant up to 80 percent of the future market value.
• For larger-scale construction projects, the bank will commission a project assessment (review of feasibility and cost estimate).
• Depending on the scope of the construction project, a construction loan will be granted initially or individual larger amounts will be paid out in the form of a mortgage loan.
• As a rule, all Credit Suisse mortgage products PDF (140KB) are available (subject to minimum amounts).

Your Credit Suisse advisor will support you in optimizing your home ownership situation.

Looking toward Your 60th Birthday: Use of Retirement Assets for Financing

Making a Pillar 3a withdrawal before reaching the age of 60 can be particularly worthwhile. Pillar 3a assets can be redeemed at any time in the last five years preceding normal retirement.

• These become due in full and are liable for income tax.
• The income tax on the paid-out capital is levied separately from your other income and charged at a special rate.

Review your personal situation using the Tax Calculator for the Withdrawal of Retirement Assets.

Looking toward Your 60th Birthday: Use of a Mortgage Loan for Financing

• By the time you reach 60, the entire financing on a first mortgage (66 percent of the market value) should be paid off if there are no additional securities available such as life insurance policies with a surrender value, securities safekeeping accounts, etc.
• In our advice we take care to ensure that you can continue to enjoy your dream home in advanced years.

Would you prefer to modify your home without converting it? In the next step, we'll show you the best way of realizing this dream.  

Step 4: What Do I Have to Take into Account When Converting My Home into a Multi-Family Dwelling?  

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