This bank only had variable unfortunately.
I don’t think so. I dimly recall asking about one when we got our mortgage, and the possibility was mostly dismissed.
What about taking mortgage in foreign currency?A lot of Europeans took mortgage in Schweizer Franken and got burnt when it appreciated.
Is possible to get mortgage in euros? Euro is tanking and is currency in which we receive salaries. So it makes sense. I would love we own something in Taiwan
In Taiwan? All of them I saw were in TWD. I don’t know if European banks will approve a mortgage for a Taiwanese house. I know Canadians won’t approve a mortgage they can’t enforce.
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Please tell me this is a thing.
Yep, I mean German Bank is willing to give mortgage for apartment in Germany in Franken.
Taiwanese have a lot of foreign reserves, so maybe Taiwanese banks might be interested.
Asking either Taiwan bank is willing to give mortgage in euros for apartment in Taiwan?
I wouldn’t know. But right now, I am mostly just trying to replace my housing budget with something I own.
I’ve never seen any advertised services for houses in Euro.
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Question for anyone who has ever bought more than one house here:
Are banks willing to give mortgages to people buying a second home, even if their first home isn’t paid off yet? I’m thinking of a scenario where you buy a house and have the tenant pay the mortgage, and then do the same thing on a second property.
Yes banks will give u a second or third mortgage. As long as u meet their income criteria u can technically have as many as u want.
20% down payment for the first two & 60% thereafter. Or put the third in your spouses name at 20%
Yes.
They will increase your down payment but usually end up returning some of it once all the paperwork is done in my experience.
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Is the cash yield on property anywhere in TW high enough to do this?
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If you pay a 30% down payment and stretch the remaining 70% + interest over 20 or 30 years it is definitely possible. Many people do this
Put the figures into a mortgage calculator. I doubt you would get enough rent to cover the monthly payment. As someone said above, the rental yield is too low.
We get almost double.
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When did you buy your property? Not recently i bet.
About 2.5 years ago.
You bought a house 2.5 years ago and now rent it out. The amount you receive in rent is double your monthly mortgage payment. Is this right?
20 percent down ?
Repayment mortgage, not interest only, right?
If you don’t mind, could you provide us with the figures.
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Not speaking for @TaipAmy but plenty of landlords never pay back the mortgage, get 20 or 30 year plan that includes a 2 or 3 year no payback on the mortgage plan and then switch banks every 2 or 3 years to make sure you are never in the payback part of the mortgage. There is a penalty to pay but it’s not much when factored into how much has to be payed back on the property.
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Yes, I know, but that is a different thing. That is how a lot of people do it. And it works as long as house prices go up.
But @meishijia is talking about leaving it and having the tenant pay off the mortgage and I don’t think it is possible if you bought today with 20 percent down. Rental yield is too low.
But @TaipAmy is saying that she is doing it now so I guess I’m wrong.
Hopefully she provides numbers
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You’d definitely need a 30% down payment and stretch the payments over 20-30 years. My landlord also charges twice as much for rent than she pays for her mortgage, and my rent is considered cheap in my area.