Does anyone has experience on taking second mortgage for rental or holiday home?
After already having mortgage for the primary home.
What is the borrowing capacity that banks give?
What about holiday home in foreign country?
[https://www.dnb.no/en/loans/home-mortgages/international-home-mortgages](https://www.dnb.no/en/loans/home-mortgages/international-home-mortgages)
Are there other banks that does home mortgages in foreign countries?
What are the tax implications owning rent/holiday home?
Holiday and rental property counted as 100% of their value,
so when total wealth exceeds 1.7mil we get 1% yearly wealth tax.
[https://www.skatteetaten.no/en/rates/wealth-tax/](https://www.skatteetaten.no/en/rates/wealth-tax/)
Can you give any suggestions how to keep the taxes to minimum?
by TheGuyFromOslo
1 comment
We did this, and we got a combined loan for both. This means your loan capacity will be as if both were one property.
For homes in other countries, check with the bank.
Regarding taxes, they are what they are, and there is pretty much nothing to be done to reduce then.