Thank you for the informative video. If I understand correctly, we can obtain the tax deduction from both the mortgage/bank loan interest rate and the "bidragssats". When completing the tax form, should we combine the mortgage interest rate, the bank loan interest rate, and the "bidragssats"?
As Mario said it will happen automatically so you don't really have to do anything to get the deduction. However, if you want to get the deduction immediately you have to edit your "forskudsopgørelse". Otherwise you will just get the money back next year.
Hi Mario, great videos! Is that possible to negociate the bank loan interest rate ? What is the range of negociation we can have those days? Is that also possible to negociate interest rate on mortgage ? Thanks a lot
Thanks for video. As for an expats it Can be also interesting to talk about the situation when you have to sell the House After 4-5 years. How much it can cost, what will you have to pay to the bank. And would it be better just to rent instead.
As a very general guideline I would typically only recommend buying if you plan on keeping the property for 5+ years. The shorter the period you own it the greater the risk that property market fluctuations and transaction costs could make it unfavorable. There are a few different costs to factor in when you buy and sell property (the estate agent will usually be the most expensive of those when you sell).
@@ThorRavnsborgthanks for answer. So generally you would need to pay back only the rest of the mortgage without percentage plus some fee to the bank for premature pay out which is minor in comparison to real estate agent fee, right?
@@maksymkotenko7418 Typically yes. But the costs involved with paying out the loan prematurely can differ greatly depending on the type of loan. Most mortgages are directly funded by bonds so the cost can fluctuate with the price of those bonds for some loan types. You should look into the possibility for potential capital gains and losses for the type of loan you decide on.
@@MarioScianHQ thanks for an answer. I was more thinking of that expats like myself are not sure if they would like to live in the same city in 5 years. I was trying to investigate that topic, it seems like when the amount of mortgage (hovedstol) you paid out is at least equal to all fees from bank and real estate agent then you will not loose.assuming same price for the house. I have concluded the same number of 5 years for my case as general rule mentioned by the guy below. I was not taking into account what would happen if I invest those money.
could you please explain in a video what are the differences beetween villa,ejerlejlighed and rekkehus?i mean some villas are cheaper than normal apartments and some rekkehus are more worth to buy....Are there different expences on each one?
Yes and no. You can avoid the bank loan but you will still need the bank since they do the approval for the mortgage on behalf of the mortgage credit bank they cooperate with (or own). You will typically also need the bank for some of the transactions involved with the sale.
Yes but there can be fines , check with your bank what their agreement is to pay off early. For example, If I make payments to my mortgage repayment, it will cost me 1000 kr with each extra transaction.
Depends on the type of loan. On traditional mortgages there are fees involved if you want to repay some of it early. The loan types with full flexibility like you describe are often called "prioritetslån" (or something else with the word "prioritet" in it) or "boligkredit".
@@MarioScianHQ you pay 15 % in downpayment and 5 i morgage you said in the video. Why dont yo just pay the 20%? The aame thing only that the 5 goes to morgage?
Depends on several factors. The "expat specific" ones are primarily your time in the country, whether or not you have obtained a permanent recidency permit and whether you have family living here also. Of course your financial situation and the specific property will also influence how the bank will evaluate the risk and how much they will require you to put down (deposit) as a result but that applies to everyone. In my experience a down payment of 10-15% will rarely be enough until you have lived here for around 5 years or more (maybe 15% could be possible with some banks after 3 years if they think you're very credit worthy otherwise). Btw. Mario said that this applies til all non-Scandinavians. I would say everyone non-Danish. People from Sweden and Norway often face the same obstacles in my experience.
Thank you for the informative video. If I understand correctly, we can obtain the tax deduction from both the mortgage/bank loan interest rate and the "bidragssats". When completing the tax form, should we combine the mortgage interest rate, the bank loan interest rate, and the "bidragssats"?
Yes, though SKAT will get the data automatically as well
As Mario said it will happen automatically so you don't really have to do anything to get the deduction. However, if you want to get the deduction immediately you have to edit your "forskudsopgørelse". Otherwise you will just get the money back next year.
Hi Mario, great videos! Is that possible to negociate the bank loan interest rate ? What is the range of negociation we can have those days? Is that also possible to negociate interest rate on mortgage ? Thanks a lot
You can negotiate the bank loan, but not the interest rate on the mortgage
Thanks for video. As for an expats it Can be also interesting to talk about the situation when you have to sell the House After 4-5 years. How much it can cost, what will you have to pay to the bank. And would it be better just to rent instead.
Yeah but it depends on so many factors. But if you’ve lived in DK for at least 5 years you’re not obliged to sell
As a very general guideline I would typically only recommend buying if you plan on keeping the property for 5+ years. The shorter the period you own it the greater the risk that property market fluctuations and transaction costs could make it unfavorable. There are a few different costs to factor in when you buy and sell property (the estate agent will usually be the most expensive of those when you sell).
@@ThorRavnsborgthanks for answer. So generally you would need to pay back only the rest of the mortgage without percentage plus some fee to the bank for premature pay out which is minor in comparison to real estate agent fee, right?
@@maksymkotenko7418 Typically yes. But the costs involved with paying out the loan prematurely can differ greatly depending on the type of loan. Most mortgages are directly funded by bonds so the cost can fluctuate with the price of those bonds for some loan types. You should look into the possibility for potential capital gains and losses for the type of loan you decide on.
@@MarioScianHQ thanks for an answer. I was more thinking of that expats like myself are not sure if they would like to live in the same city in 5 years. I was trying to investigate that topic, it seems like when the amount of mortgage (hovedstol) you paid out is at least equal to all fees from bank and real estate agent then you will not loose.assuming same price for the house. I have concluded the same number of 5 years for my case as general rule mentioned by the guy below. I was not taking into account what would happen if I invest those money.
Can you pls make a video on purchasing House in Denmark today. Its good time to buy this House good or not ?and what is intrest rate
I made one just a few weeks ago, check it out: ua-cam.com/video/XRqQemkysW8/v-deo.html
Also in fixxed loan, the kurs is varying around 97% these days so effective interest rates becomes even higher :(
Yep
could you please explain in a video what are the differences beetween villa,ejerlejlighed and rekkehus?i mean some villas are cheaper than normal apartments and some rekkehus are more worth to buy....Are there different expences on each one?
Villa are houses, raekke are terraced houses and ejer are apartments, same price dynamics everywhere in the world
Do you need permanent residence permit to have a mortgage in Denmark or temporal also will work?
No you don't need
Is it possible to avoid the bank all together? I almost have 20% of the apartment I want in cash! Can i only have a mortgage then? 🤔 thank you
Yes, you can - if you have the 20% or more you can get the realkredit loan directly
Yes and no. You can avoid the bank loan but you will still need the bank since they do the approval for the mortgage on behalf of the mortgage credit bank they cooperate with (or own). You will typically also need the bank for some of the transactions involved with the sale.
@@ThorRavnsborg That makes sense they would still get a cut for the transaction. Have you done this? or do you have more info? thanks
can you put some more money each time you pay to try to pay off capital early ?
Yes you can
Yes but there can be fines , check with your bank what their agreement is to pay off early. For example, If I make payments to my mortgage repayment, it will cost me 1000 kr with each extra transaction.
Depends on the type of loan. On traditional mortgages there are fees involved if you want to repay some of it early. The loan types with full flexibility like you describe are often called "prioritetslån" (or something else with the word "prioritet" in it) or "boligkredit".
What is the difference on down payment and morgate loan?
?
@@MarioScianHQ you pay 15 % in downpayment and 5 i morgage you said in the video. Why dont yo just pay the 20%? The aame thing only that the 5 goes to morgage?
Is it realistic to get 10% or 15% for an expat? I asked Danske bank on a conference and they said 20-30 😢
Depends on your story, the more “connection to Denmark” you can prove the better deal you’ll get
Depends on several factors. The "expat specific" ones are primarily your time in the country, whether or not you have obtained a permanent recidency permit and whether you have family living here also.
Of course your financial situation and the specific property will also influence how the bank will evaluate the risk and how much they will require you to put down (deposit) as a result but that applies to everyone.
In my experience a down payment of 10-15% will rarely be enough until you have lived here for around 5 years or more (maybe 15% could be possible with some banks after 3 years if they think you're very credit worthy otherwise).
Btw. Mario said that this applies til all non-Scandinavians. I would say everyone non-Danish. People from Sweden and Norway often face the same obstacles in my experience.
i recenttly got loan with 10%. i have been in denmark for 4 years. One of my friend got like 7%.
@@tusharshukla1990 Good to know. Just out of curiosity may I ask which bank you got it from?
@@tusharshukla1990 Wow, 10% is really good. How did you manage to do it? Do you have many ties with Denmark?