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Old 10.08.2018, 10:31
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Re: Douche bank advisor?

OP - I think your question has been asked and answered...reading through the responses it seems most people concur that both questions are reasonable and necessary. Not sure about the manner in which those questions were asked and whether he may have been too blunt, but the misogyny accusation seems entirely unfounded.
I think part of the cultural shock is due to a fundamental difference in what home ownership and housing loans mean in different countries. Not sure what country OP is from, but in countries where governments actively encourage and promote home ownership, mortgages are almost seen as an entitlement, and there are often laws or policies which effectively require banks to lend to you once you meet certain minimum requirements. Where I'm from, targeting 100% home-ownership is the government's policy, so applying for a mortgage is a largely mechanical, rules-based exercise - you don't even need to go down to the bank and meet the banker.
Switzerland is not a country where home-ownership is actively encouraged, which is why it has one of the lowest home-ownership rates in the world. So the banks providing housing loans apply the same standards as they would to anyone asking a loan - whether its a business or personal loan - they don't relax their credit standards just because its a housing loan, as banks in some other countries would.
As for the 2nd question - as many have pointed out, he's simply fulfilling his legal and regulatory obligations by asking that.
Hope this perspective helps.
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  #22  
Old 10.08.2018, 11:01
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Re: Douche bank advisor?

Is there any particular advantage to going with a German bank? Douche Bank is probably involvent, so you may incur extra admin when they go into receivership, and in any case, why not go with a local Swiss one? Most towns have their own Gemeinderbank.
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  #23  
Old 10.08.2018, 11:04
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Re: Douche bank advisor?

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Is there any particular advantage to going with a German bank? Douche Bank is probably involvent, so you may incur extra admin when they go into receivership, and in any case, why not go with a local Swiss one? Most towns have their own Gemeinderbank.
Banks with a competent and thorough vetting procedure when negotiating mortgages are indicative if being insolvent?
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Old 10.08.2018, 11:06
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Re: Douche bank advisor?

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Is there any particular advantage to going with a German bank? Douche Bank is probably involvent, so you may incur extra admin when they go into receivership, and in any case, why not go with a local Swiss one? Most towns have their own Gemeinderbank.
I doubt a German Bank will lend on a CH property.

Mortgage documents tend to be bearer documents, who holds the piece of paper has the security so a Bank's insolvency is of no concern, your mortgage is merely an asset of the bank which will be sold on to someone else.
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Old 10.08.2018, 11:07
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Re: Douche bank advisor?

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Banks with a competent and thorough vetting procedure when negotiating mortgages are indicative if being insolvent?
Speak to the link, cos the face ain't listening:

https://news.goldcore.com/ie/gold-bl...ank-insolvent/
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Old 10.08.2018, 11:08
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Re: Douche bank advisor?

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I doubt a German Bank will lend on a CH property.

[...]
Hence my advice to go with a Swiss one, instead of OP's original plan.
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Old 10.08.2018, 11:11
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Re: Douche bank advisor?

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Speak to the link, cos the face ain't listening:

https://news.goldcore.com/ie/gold-bl...ank-insolvent/
Dear Link

How do you know the OP was referring to Deutsche Bank?

Did you confuse "Douche" with "Deutsche"?
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  #28  
Old 10.08.2018, 11:18
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Re: Douche bank advisor?

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Is there any particular advantage to going with a German bank? Douche Bank is probably involvent, so you may incur extra admin when they go into receivership, and in any case, why not go with a local Swiss one? Most towns have their own Gemeinderbank.
Where does anyone mention going to a German bank ?

"Douche" =/= "Deutsche"

Edit - Sandgrounder got there first. Call delayed my reply!
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  #29  
Old 10.08.2018, 11:20
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Re: Douche bank advisor?

Does nobody have a sense of humour any more?

The "Douche Bank" reference was very obviously a joke!

Last edited by 22 yards; 10.08.2018 at 12:36.
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Old 10.08.2018, 11:23
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Re: Douche bank advisor?

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Does nobody have sense of humour any more?

The "Douche Bank" reference was very obviously a joke!
Pretty sure it wasn't....
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  #31  
Old 10.08.2018, 11:38
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Re: Douche bank advisor?

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Is there any particular advantage to going with a German bank? Douche Bank is probably involvent, so you may incur extra admin when they go into receivership, and in any case, why not go with a local Swiss one? Most towns have their own Gemeinderbank.
Things have probably changed now but I once wanted to buy a house in the Brabant region (Netherlands). The Swiss didn't give me a credit because they would have no access to the house and the Dutch refused (very politely, I remember) because they had no access to my salary.

I think the douche - deutsch was a Freudian

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Speak to the link, cos the face ain't listening:
https://news.goldcore.com/ie/gold-bl...ank-insolvent/
From which October is that article?
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Old 10.08.2018, 11:41
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Re: Douche bank advisor?

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I think the douche - deutsch was a Freudian

I'm pretty sure you don't want to confuse "deutsch" and "douche" when you are standing with your pants round your ankles when you're at the docs...
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Old 10.08.2018, 12:03
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Re: Douche bank advisor?

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Did you confuse "Douche" with "Deutsche"?
Same thing.

Tom
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  #34  
Old 10.08.2018, 12:22
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Re: Douche bank advisor?

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It's been a while since I last invoked the wisdom of the EF but the last interactions with my bank advisor are worth sharing...

We're negotiating a mortgage and I've been faced with tough questions from this guy, namely:

1) "Do you plan to continue working 100% after you have children?" - while I can understand he's trying to assess my ability to repay the loan, should I be shocked/disgusted by his bluntness?

2) "Oh we see you got a transfer from your father who lives in (insert developing non-EU country here)... can you prove how he saved for / obtained the $$ because country x is defined as a sensitive country and we need proof that this doesn't come from money laundering or drugs (I'm quoting him, not trying to add any color to his statement") - I also have a problem here because said transfer happened months ago, at that point I asked the bank if they needed any documents and they said no, we'll contact you if our legal dept. asks... apparently they only asked now that we're trying to get a credit. And again I find his phrasing inappropriate.

Am I being too sensitive? should I suck it up and come to terms with the fact that this is a mysogynist country? formally complain about this guy? change bank?

The floor is yours...
Even if I love Switzerland in any sense, but have to be honest, it is a bit misogynist in lots of sense...And also conservative. Female is not really that much presented in the society, and I saw lots of cased like this...They are very afraid of lots of things, take risk...etc.
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  #35  
Old 10.08.2018, 12:49
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Re: Douche bank advisor?

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I'm pretty sure you don't want to confuse "deutsch" and "douche" when you are standing with your pants round your ankles when you're at the docs...
People know me - and most my remarks are not Freudian

Don't remember ever standing with my pants round my ankles at the docs. You got a stand-up-gyn.?
Never mind, never mind .... it was banks, mortages, douchbags, right?
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  #36  
Old 10.08.2018, 13:01
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Re: Douche bank advisor?

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From which October is that article?
The articles linked in the article are all from early October 2016. That's probably the article's date as well.
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Old 10.08.2018, 13:18
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Re: Douche bank advisor?

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The articles linked in the article are all from early October 2016. That's probably the article's date as well.
Good work. I'm glad we're getting some progress on getting the article correctly dated.
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  #38  
Old 10.08.2018, 16:26
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Re: Douche bank advisor?

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I’m not even sure you are mature enough to obtain a mortgage! ....

When you deal with serious matters you can expect that the people you deal with take their work very seriously, they will ask the unpleasant questions and they will do the follow ups. You have received funds from a high risk country and are about to perform the classic money laundering trick of sinking it in property so you can absolutely expect to be required to account for it - you have raised a new red flag by your request.

If you don’t like it, you have a solution - walk away and see how many other banks will be willing to give you a mortgage on your terms.
No, I'm not entitled to get a mortage approved. Yes I perfectly understand the bank needs to prove my creditworthiness even if this involves some unpleasant questions.

I agree with you, I'd expect the bank to take their work very seriously which they haven't:

- The funds were transferred SIX months ago and I asked them before the transfer took place which documents would be required to prove their provenance then and they said "nothing apart from a simple Schenkungsvertrag (gift/donation contract) between the parties"
- I asked again days after I received the transfer and the bank again said "nothing apart from the donation contract unless we get further questions from legal", which apparently wasn't the case as I didn't hear back from my client advisor
- I then got a credit approved for a property we ended up losing against a higher bidder. No red flag was raised by requesting a mortage then.
- ... fast forward six months, I present them with a new property and the request comes. I'm not hiding anything so I have no trouble complying and providing any information. Just why did they wait until now when I'm trying to put an offer for a place? is it competent from the bank to work on "emergency mode" rather than having done their due diligence when they received the funds? and why am I not getting a clear list of documents I need to provide them with besides the donation contract? If this is standard due diligence there should be a standard process to follow including required documentation. I cannot seem to get a clear answer from them.
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Old 10.08.2018, 16:30
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Re: Douche bank advisor?

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Were you negotiating in English or German? If it was English, sometimes the translation can sound harsh and direct which is sometimes a bit shocking to not-so-direct language speakers.
We're negotiating in German. The native German speaking OH has been there so no, I haven't misunderstood anything.
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Old 10.08.2018, 16:32
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Re: Douche bank advisor?

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No, I'm not entitled to get a mortage approved. Yes I perfectly understand the bank needs to prove my creditworthiness even if this involves some unpleasant questions.

I agree with you, I'd expect the bank to take their work very seriously which they haven't:

- The funds were transferred SIX months ago and I asked them before the transfer took place which documents would be required to prove their provenance then and they said "nothing apart from a simple Schenkungsvertrag (gift/donation contract) between the parties"
- I asked again days after I received the transfer and the bank again said "nothing apart from the donation contract unless we get further questions from legal", which apparently wasn't the case as I didn't hear back from my client advisor
- I then got a credit approved for a property we ended up losing against a higher bidder. No red flag was raised by requesting a mortage then.
- ... fast forward six months, I present them with a new property and the request comes. I'm not hiding anything so I have no trouble complying and providing any information. Just why did they wait until now when I'm trying to put an offer for a place? is it competent from the bank to work on "emergency mode" rather than having done their due diligence when they received the funds? and why am I not getting a clear list of documents I need to provide them with besides the donation contract? If this is standard due diligence there should be a standard process to follow including required documentation. I cannot seem to get a clear answer from them.
I fully understand your beef with the bank, even if I don't think it's worth getting wound up over. I just can't help wondering whether you might have received a more sympathetic hearing here if you'd chosen a less aggressive, polarizing thread title. And the hopeful question mark at the end doesn't really lenify it much.
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