Hi all,

Does anybody know if it is possible to get some loan from a bank for buying a house or rent?I have a B permit and an account in Post.

For buying = Yes


For renting = No

I've heard about something called a "mortgage". Maybe you could google for that?

perfect! in our country it is common to do mortgage, meaning that pay something at the begininng of the rent (lets say ~20,000CHF) then after finishing the contract you 'll get that money back from the renter! I am not sure if swiss people also do something like that or not?!

I'm confused - that sounds like a deposit. As in, here, I pay three months rent as a deposit, and when I move out, assuming nothing is dirty or broken, I get all my deposit back. Nothing to do with a loan or mortgage.

Swisscaution is what you need

So, who is renting such that?? I paid 500 depost + the rent for each month!. you mean you did'nt paid anything at the end?

Sorry, I'm not really clear on what you're asking

I mean, you are saying that you totally don't pay anything, you first pay the deposit and at the end of leaving, you get whole deposit that you had paid. So, is it common in zurich for renters to rent with such policy? How can we ask them? this is because, I have seen mostly they ask for a security depost(which is refundable as well) BUT PLUS rent for each month.

Yes, that's how renting works. Deposit at beginning + rent each month. Get deposit back at the end assuming everything is good. Rent is not refundable.

Dear OP, feel free to correct me if I am wrong, but I seem to recall that you are originally from the Middle East. If that is the case, perhaps in your country of origin, financial institutions apply the principles of "islamic banking" in order to comply with sharia rules which prevent banks from charging interests.

Knowing this, if I understand correctly your question, you are asking if in Switzerland there is something similar to Murabahah for house purchases or renting (bank buys the asset from seller, re-sell it to the buyer at a profit, and buyer pays back the bank, more commonly in installments) or qard hassan (goodwill loans). Not all forum members might be familiar with this or islamic finance, hence the confusion generated by your question IMO.

In very simplified terms - in Switzerland, normally, in the case of house purchases, you would get in touch with a financial institution to request a loan. You normally will be required to put down a lump sum at the beginning, called "downpayment", whose percentage can vary, but typically it's 20%. In addition, the financial institution will offer you several possible mortgage options (fixed rate, variable rate, various durations) based on both the market conditions at the time, and of course their assessment of you being solvent on your loan (your income, your salary, if you have other assets, etc.). If you are approved, then, each month, you would make a payment to the bank which comprises of a portion of capital and a portion of interest payments. You are the owner of the asset, however, the lender has the possibility to foreclose, repossess or seize the asset under certain circumstances (e.g. if you're not solvent or declare bankruptcy).

In case of renting, totally different scenario. As a tenant, you just pay the rent to the landlord monthly. A bank plays in only when you are required to pay a deposit, in the sense that you will be required to deposit the money in a special account, which will mature positive interests, and you will be able to collect that money (plus interests accrued, minus sums owed to the landlord for repairs, etc.) upon termination of the rental agreement. As far as I know, I have never heard of loans granted from banks to pay a rental deposit. However, I have heard of (and used myself) interest-free loans made by employers to employees to meet the deposit payment - the terms of these loans are usually discussed between HR and employee directly, no banks involved.

Of course, what you might want to look into also, is if there are any financial institutions applying islamic banking principles in Switzerland. I personally have no idea - I know that there are a ton in the UK, and, of course, in Luxembourg.

Hope this helps, good luck!

Perfect! and seriously thank you very much for your great help!
the buying procedure is very similar to what we have in our country. in renting, we have also another scenario in which the tenant pays some great deposit at the beginning of rental agreement (normally, the amount of this deposit is 20% of the price of the house). he does'nt pay any rent at each month. when the rental contract is terminated, the whole deposit is given back to the tenant without any change in amount. The question might be, so how does the renter benefit?! . The answer is: the renter uses that big depost in business or anything he would like, then he gets some interest from that job he is working in.
So, it seems that there is no any sign of this kind of renting.
could you please let me know some good and reliable financial institutes in order to consult for buying a house(or flat ,...). By the way, although i have asked it before but I have B permit, does it make any problem?
Thanks in advancee

http://www.faisal.ch/index_en.aspx

http://www.sarasin.ch/internet/iech/...story_iech.htm

Also search for Takaful, Ijarah and Qardul hassan within CH. Trust Google is working at your end

http://www.swissinfo.ch/eng/Home/Arc...ml?cid=6556370

In a canton of your permit for a main residential it’s fine. For secondary residence in other cantons there will be lots of other conditions, like more down payment and big salary.

Mainly depends on your contract terms. If it’s limited then there is a problem.


Doesn’t work that way with Dubai munafiqs.

Are you persian? I watched Santoori recently. Great movie.

Are you persian? I watched Santoori recently. Great movie.[/QUOTE]

Yes! ....although i haven't watched it yet! ..i have to!