Depends on your mortgage/value ratio. Up to 2/3 you can do whatever you want with the money, anything above that has to go into a property.
So if you bought a house 10 years ago for 600k and a 480k mortgage and this house is now valued at 1000k, you could increase the mortgage to 666k and use those 186k for buying ETFs, or a Porsche.
Doesn’t work with my bank. I could raise the mortgage by 50k CHF and still would be below the 2/3 but they clearly stated if it’s not for the apartment they will not hand out cash…
At least in some banks even with a low mortgage/value ratio, if you pay back 100k, then ask for a 50k increase, they want to know for which revovation the money is for, but if you pay only 50k back in a first place, they are just fine with that… Another incentive to pay back less than needed.
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