Does any body deal or expereince with SEW banksparen in regards to mortgage?
What is the tax rule on SWE ? limit ? Problems ?

Thanks
K.




Savings Private Home (SEW)
The Private Housing savings account (SEW) is a blocked savings account which is regularly deposited money that ultimately must be used to repay a mortgage. The account holder receives the interest on the savings account, will generally be equal to the mortgage over the (few bank) mortgage must be paid. The SEW has thus guaranteed a final capital. Because it has a guaranteed final capital any increase in mortgage interest always a direct reduction of the deposit results.


Rules and conditions for the establishment of a SEW
You must bring in the SEW with a bank or investment in the meaning of the Act on Financial Supervision (FSA) may act as a supplier;
there should be a private dwelling;
This private property must be owned by the account holder.
The account holder must own a house debt;
the account should be blocked. The blockade is indicated in the account agreement to assist;
the blocked account may only be to relieve the debt's home;
the account may therefore only be released once 1. The returns that must be achieved in the interim account to be credited.
Rules and conditions relating to the exemption from payment
You must live in the escrow account for at least 15 years in maintenance;
with a maturity between 15 and 20 years is a tax-free allowance of 32,900 euros. When a deposit period of 20 years or more, shall be exempt from 145.000 euro. The exemptions apply not only product per person. Any belastingplichtigde can in life than 145.000 euro tax receipt.
death, the account unblocked. The exemption also applies in this case, even though there is still not met the above period;
the deposit to the account must meet the bandwidth requirement;
the highest deposit amount may never have more than ten times the lowest deposit. It is not possible to temporarily stop destinations.
the exemption may not exceed the accumulated capital in the mortgage amount to be repaid;
When not all rules are met, the savings or investment account automatically moves from box 1 to box 3.