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Old 27.01.2011, 00:35
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Overseas Home loan using Swiss banks

Hi Im a dual citizen French and Australia.
I am moving to Geneva for work. I should be on a half decent salary and I'm contemplating buying out the family property in New Caledonia when my grandma dies.

As we already have a share in the home I am assuming that we might be able to use that as some colateral as well as a deposit I will raise in Switz.

Can you get such loans through swiss banks, Is it easier to get one from a French bank?
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Old 27.01.2011, 01:08
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Re: Overseas Home loan using Swiss banks

Many years ago I set up a German personal loan with a brand new 3 bedroom detached house in Chichester, England as co-lateral.

The price was £ 70,000 and my salary covered the loan requirements. The German bank simply asked me to find an English bank to guarentee their loan, so that if I defaulted the UK bank would sell the house and repay the loan. This is quite a normal deal in banking circles and the UK bank would usually charge 1% p.a.

However I was dealing with my bank manager in Salisbury and he added more and more conditions and I offered 40% own capital. He then said he wasn't happy as the German mark was "only" 4.15 to the pound and he expected the pound to increase in value!

Unless you have a very good family bank in Nouvelle Calédonie I would suggest you forget the idea.
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Old 27.01.2011, 01:18
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Re: Overseas Home loan using Swiss banks

It's very difficult to get a home loan from a bank that is not in the same country as the property. If you default on the loan they have no claim on the home. The can't go to a different country to foreclose and sell the house in order to recover the money (or some of it, etc).

As Ittigen says you'll have to find a bank in Australia who will lend to you even if your salary is in Switzerland. I don't know if they do that in Australia.
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Old 27.01.2011, 01:32
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Re: Overseas Home loan using Swiss banks

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As we already have a share in the home I am assuming that we might be able to use that as some colateral as well as a deposit I will raise in Switz.

Can you get such loans through swiss banks
As the others said, but this time a bit less round-the-houses... not - a - chance

That's not how it works here: salary counts for nothing

You will need to have enough net worth to lodge enough assets with the lender - and these assets will be blocked - to cover the loan, and you also be required to pay in whenever the currencies move against the lender, to ensure that they're always in the money.

Sorry
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Old 27.01.2011, 02:39
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Re: Overseas Home loan using Swiss banks

Thanks guys, I know that this is about the egde or the realms of the Swiss forum however. As I am french I was looking at going for an loan in a French bank, i.e. BNP. As I know they have branches in Nvllle Cal hopefully I can go down that pathway.
Is there a BNP branch in or near Geneva and can you get loans from EU banks (France) when earning CHF?
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Old 27.01.2011, 02:54
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Re: Overseas Home loan using Swiss banks

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Is there a BNP branch in or near Geneva and can you get loans from EU banks (France) when earning CHF?
You do realise that, what with this being the English Forum in Switzerland n stuff, there's the BNP that you're talking about, and then there's the BNP that everyone else is thinking that you're talking about

Especially if you're (partly-)from the land where so many people are "Friends of Jean"

Just a thought
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Old 27.01.2011, 02:58
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Re: Overseas Home loan using Swiss banks

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Thanks guys, I know that this is about the egde or the realms of the Swiss forum however. As I am french I was looking at going for an loan in a French bank, i.e. BNP. As I know they have branches in Nvllle Cal hopefully I can go down that pathway.
Is there a BNP branch in or near Geneva and can you get loans from EU banks (France) when earning CHF?
I think you miss the point. You can't get a home loan in France or Switzerland or Zimbabwe for a property in Australia. You need a bank in Australia to give you a home loan. Maybe you can get a personal loan, but the rates are not the same as home loans and I don't know how much the house costs but you probably won't get more than 20-30K personal loan with no collateral, again, the rates for personal loans are quite high.
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Old 27.01.2011, 04:00
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Re: Overseas Home loan using Swiss banks

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I think you miss the point. You can't get a home loan in France or Switzerland or Zimbabwe for a property in Australia. You need a bank in Australia to give you a home loan. Maybe you can get a personal loan, but the rates are not the same as home loans and I don't know how much the house costs but you probably won't get more than 20-30K personal loan with no collateral, again, the rates for personal loans are quite high.
lol thanks for the heads up.. Whilst I am Australian I did actually mention that the family property I want to buy is in New caledonia, which is a french territory.
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Old 27.01.2011, 04:47
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lol thanks for the heads up.. Whilst I am Australian I did actually mention that the family property I want to buy is in New caledonia, which is a french territory.
Get a grip, man!

So, AFAICS, you're half-french, half-australian, recently in from london, working in geneva, heading to schaffhausen asap, and wanting to borrow money for a property 16,000 km away..

Would you give me money if I came up to you in Ozz and said "I'm half-australian, half-french, recently in from Singapore, working in Perth but I actually wanna move to Sydney asap, but I do earn a good wage. By the way, the property's in the Canaries..."

You would? Excellent! "I'm half-austra...
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Old 27.01.2011, 05:56
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Re: Overseas Home loan using Swiss banks

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Get a grip, man!

So, AFAICS, you're half-french, half-australian, recently in from london, working in geneva, heading to schaffhausen asap, and wanting to borrow money for a property 16,000 km away..

Would you give me money if I came up to you in Ozz and said "I'm half-australian, half-french, recently in from Singapore, working in Perth but I actually wanna move to Sydney asap, but I do earn a good wage. By the way, the property's in the Canaries..."

You would? Excellent! "I'm half-austra...
Not quite sure what your saying but, I guess you could say Im lucky, EU and Aussie passport, worked around the world. Of course if I was in front of a french bank manager I wouldnt be saying I hold an Aussie passport..
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Old 27.01.2011, 07:11
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Not quite sure what your saying but, I guess you could say Im lucky, EU and Aussie passport, worked around the world. Of course if I was in front of a french bank manager I wouldnt be saying I hold an Aussie passport..
OK. last try...

"Why aren't you in Australia, in front of an Australian bank manger, saying you hold an Australian passport?" That's the key question. I mean, at least he/she might actually know where your NC is, and not think that you mean North Carolina.

Dunno about Ozz, but in Yoorp, home loan (mortgage) companies have to be licensed in each country in which they operate. So do Australian companies give mortgages on NC properties?

Therefore, as miniMia quite rightly says, you're not going to get a home loan here against a home outside Switzerland, or in France outside France - it's illegal! - as I said before, I believe the best you will get is funds drawn against blocked assets lodged with the lender...

Who knows why? It might in some small part be due to the near-meltdown of the global financial system due to lending against properties that were worth significantly less than the sum lent against the property, but who am I to judge?

Last edited by weejeem; 27.01.2011 at 07:28.
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Old 27.01.2011, 09:02
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Re: Overseas Home loan using Swiss banks

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- it's illegal! - as I said before,
Can you give any links, thanks.
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Old 27.01.2011, 15:38
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Can you give any links, thanks.
Straight to the Good Book

HTH

Last edited by weejeem; 27.01.2011 at 16:21.
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Old 27.01.2011, 16:08
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Re: Overseas Home loan using Swiss banks

Home loan for a foreign property: next to impossible
Personal loan is the easier (but expensive) option
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Old 27.01.2011, 16:18
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Re: Overseas Home loan using Swiss banks

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lol thanks for the heads up.. Whilst I am Australian I did actually mention that the family property I want to buy is in New caledonia, which is a french territory.
D'oh! I though you wanted to buy in Australia. LOL.

Why don't you call the neighborhood bank closest to the property?
Here you go: Apply online!
http://nc.bnpparibas.net/fr/


How much is do you need to buy this house? You can try a personal loan and in that case you can get that in Switzerland or where ever it is you are living & working. Your citizenship(s) is (are) less important.

Last edited by miniMia; 27.01.2011 at 16:32.
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Old 27.01.2011, 16:22
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Re: Overseas Home loan using Swiss banks

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Thanks guys, I know that this is about the egde or the realms of the Swiss forum however. As I am french I was looking at going for an loan in a French bank, i.e. BNP. As I know they have branches in Nvllle Cal hopefully I can go down that pathway.
Is there a BNP branch in or near Geneva and can you get loans from EU banks (France) when earning CHF?
In theory it should be possible to get a loan via a local BNP as they have a branch in New Cal; would probably take a while as they will likely want to involve the local branch somehow.
About "can you get loans from EU banks (France) when earning CHF" - I know a few people who have done this.
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Old 27.01.2011, 16:40
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Re: Overseas Home loan using Swiss banks

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lol thanks for the heads up.. Whilst I am Australian I did actually mention that the family property I want to buy is in New caledonia, which is a french territory.
I doubt BNP New Caledonia will give you a mortgage loan on a Haute-Savoie property, because the loan is booked on the branch book not on BNP as a whole. Similarly, I doubt BNP Haute-Savoie will give you a loan sight unseen on a New Caledonian property, even if it is in the same country.
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Old 27.01.2011, 17:15
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Re: Overseas Home loan using Swiss banks

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I doubt BNP New Caledonia will give you a mortgage loan on a Haute-Savoie property, because the loan is booked on the branch book not on BNP as a whole. Similarly, I doubt BNP Haute-Savoie will give you a loan sight unseen on a New Caledonian property, even if it is in the same country.
might be worth studying the BNP new cal web site (in french)
http://nc.bnpparibas.net/fr/
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Old 27.01.2011, 17:29
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Re: Overseas Home loan using Swiss banks

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might be worth studying the BNP new cal web site (in french)
http://nc.bnpparibas.net/fr/
why don't you just tell us what is says since you read it?
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Old 27.01.2011, 17:42
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Re: Overseas Home loan using Swiss banks

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Is there a BNP branch in or near Geneva?
No, they only stand for election in Britain. Try the SVP though, or the PNOS.
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