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Switzerland Mortgages
Q. How much mortgage can I have to buy a
residential property in Switzerland ?
All Swiss mortgage applications need to be supported by a minimum
requirement of proof of income (income arising from renting your property
will be included in your income) i.e. if employed - copies of your last
three month's payslips/Employer’s Reference together with copies of your
last 3 month’s Personal Bank Statements will be required or alternatively if
you are self-employed - copies of your last two years Audited Accounts &
copies of both your last 12 month's Business and last 3 month’s Personal
Bank Statements will be required on application.
Your mortgage in Switzerland is based on your joint net “take home” pay and
is calculated on an affordability basis. All your existing liabilities
including any mortgage/rent payments, personal and bank loans, credit cards
(if the balance is not cleared on a monthly basis) and any maintenance – ie:
Divorce - payments together with your proposed Swiss mortgage payments
should not exceed 30% of your net income.
Maximum mortgage in Switzerland shall not exceed 80% of the market value of
the property. The market value is determined by the bank (either internally
through its own experts or externally through independent experts).
Swiss mortgage example:
Net joint monthly income £ 4,000 times 30% of that figure is £ 1,200, minus
existing monthly mortgage payment £ 300 – No other liabilities. This leaves
a balance of £ 700 for a proposed French Mortgage payment.
Mortgage details for Switzerland:
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Maximum loan to value 80%
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Maximum Swiss mortgage term
35 years
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£150,000 minimum mortgage
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Mortgages in Switzerland are
paid in Swiss francs only
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Repayment and interest only
mortgages available
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Rates from approximately
2.50%
details are subject to change, so you must check with your
broker on the link above before committing |
