PostFinance Release of pledged 3a

Real Estate
1

Greetings everyone,

We bought a house about seven years ago. To finance the mortgage at Post finance I have allowed to pledge my 3A with the PostFinance.
The 3A was invested in In an active fund (Fonds 75).
I begin more and more to realize that the fund performance is not very satisfactory and that PostFinance takes quite a commission which is I believe almost 1.5%. Ridiculous.
I am now thinking of getting Away from the pledge and have The 3A some transferred for example To finpension.

Does anybody have experience with similar scenarios?
Is it simple to remove the pledge (Our house has gained in value)?

Your thoughts and perspectives are appreciated

2

General answer as details are missing:

No. Removing the pledge requires refinancing. The house appreciating isn’t helping, as the pledge secured part of your mortgage for which you lacked sufficient income (ergo income increase would help).

Existing pillar 3 is equity-like, and pledging it almost never makes sense anyway (indirect amortization via building pillar 3 post-financing might be sensible).

Depending on how fixed your mortgage is and what early payback PF permits, I would withdraw pillar 3 as soon as possible and reduce the mortgage accordingly (especially as tax increase for withdrawals are in discussion, even though not necessarily likely to really be enacted). Then start a new pillar 3 at at VIAC/finpension/etc.

3

Hello,

Which pledging your are referring to;
Pledge (2nd and/or 3rd) mainly to close the gap between 10% cash to necessary 20% personal contribution on the overall value
Or indirect amortisation via 3a for the 1st level mortgage reimbursement (not sure about the right term in English)

In both cases I guess you could un-pledge your 3a (or a fraction of it) if the conditions are filled (already the 20% or the 35%) either by:

  • paying in cash the difference (only when negociating a new loan)
  • Your house had taken value and the difference is already filed Just because increase of value (can be done during your loan/hypothèque period)

I had personally un-pledged both my 2nd and 3rd pillars recently just because I asked the bank for a reevaluation of the value of my house (during my 10 years period loan (hypothèque) ).
As the value increased by roughly 30% … The condition of 20% have been automatically filed with my previous cash contribution.

You may simply contact your loan organism and ask…

4

Perfect thank you. I have emailed my bank two days ago. They say they need to reevaluate the whole thing again. Hopefully, I don’t need to add extra cash on top of it As also the house has gained in value.