Hi All,

My wife and I are hoping to move to Switzerland from Francewithin the next few months or so and are looking to finance a property overthere.
We have the required deposit to meet what seems to be the normal loan to valueratio and our gross income more than meets any other criteria.

I've emailed several banks/groups asking the question but thus far have had noresponse apart from the cantonal bank which said they can’t help us until we'reresident - so, thus far it’s a bit chicken and egg!
My question is - can anyone recommend (preferably a Swiss bank/group) that canhelp us with a mortgage before we actually reside in Switzerland?

Any info much appreciated and apologies if this has been asked many timesbefore.
Thanks

Andrew

No

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You will need a far bigger deposit as it's for a holiday home, not a main residence. Without a B permit your nor even allowed to buy a main residence & you can't legally use it as such.

Thanks for the info FatManFilms - deposit wise we're flexible so its not such an issue to increase it. With regards permit, i was under the impression as an EU citizen we woud almost be assured of being granted one - is this not the case?

In any event, am i to asume that no Swiss bank would entertain us?

Thanks again for the reply.

That is not the case.
The Swiss must prove to the cantonal authorities that you have specific skills which they cannot find in a local person to justify employing a foreigner. The EU makes it easier, but not guaranteed.

As a hairdresser: very little chance
As a qualified highly specialized person in the area of XXYY: maybe, always depends if the country needs more XXYY specialists.

Without a local job and local residence, I expect no local bank is interested in you.

To move forward:
1. Get a local job
2. Get a local residence (rent a place) and a permit (subject to 1)
3. Then talk to the local bank

Not accurate, an EU (original countries) can apply for a job on equal footing to a Swiss, they can come unemployed & look for work. If they are self employed or self sufficient they are entitled to a B permit end of story, as soon as an unemployed job seeker gets a permanent job they are entitled to a B permit, hairdressers are welcome!

To the OP, whilst your entitled to one you have to be living here to get it,
your not allowed to buy a house to rent it out, it has to be your main residence unless it's a holiday home.

Untill you have a permit, your not entitled to buy the property , so the Bank wont give you a mortgage.

Thanks FriendlyKiwi, im self employed (IT Contractor) so im thinking permit wise i shouldnt have an issue. Im going to speak to the local canton and see whats what.

Thanks again.

I don't think you will be self employed as a contractor, you will be an employee. To be self employed you have to be taking risk, working in the same company on a regular basis or even 2 companies on a regular basis is just normal employment.

If you were self employed, you would have very little chance of getting a mortgage till you have been here for 3 years even with a 35% deposit, unless of course you don't need a mortgage, then you can have one!

Yeah this makes sense and sounds similar to what im reading. Permit should be ok to get but looks like we'll have to rent first before we can buy, unless i raid the piggy bank and pay cash!

You still need a permit before you can buy, be aware the market is totally illiquid in CH, houses can take many years to sell. Remember you can't rent it out if you decide to leave Switzerland.

Well ok then, i work for my own limited company as a company director but i'm thinking the point is to prove i can live in Switzerland without needing to claim of the state.

That won't work, your not in England. You have to work for a Swiss company to get a permit.
If you come as self sufficient you probably wont be allowed to work in CH.
You do realise CH has a wealth tax & your liable for taxes on world wide assets & income?

Well thanks for all of your advice, much appreciated.