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Old 29.01.2021, 17:25
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Mortgage 1% maintenance and ancillary costs

In attach there is mortgage calculation in different variants from Credit Suisse (948000CHF mortgage). What is strange is that they add 1% of maintenance and ancillary to monthly mortgage which make maintenance costs almost the same as mortgage interests. Is it normal with mortgages in Switzerland?
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Old 29.01.2021, 17:36
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Re: Mortgage 1% maintenance and ancillary costs

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In attach there is mortgage calculation in different variants from Credit Suisse (948000CHF mortgage). What is strange is that they add 1% of maintenance and ancillary to monthly mortgage which make maintenance costs almost the same as mortgage interests. Is it normal with mortgages in Switzerland?
Yes, completely standard for the affordability calculation. They aren‘t saying that you have to spend that every year, but on average that is the cost of the upkeep. It therefore has to be planned into the affordability calculation.

For example some years you might need to replace the windows or the heating boiler. If it is an apartment, you will also have Nebenkosten to pay.
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Old 29.01.2021, 17:36
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Re: Mortgage 1% maintenance and ancillary costs

It's not part of the mortgage, just part of the calculation.

Tom
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Old 29.01.2021, 17:40
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Re: Mortgage 1% maintenance and ancillary costs

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Yes, completely standard for the affordability calculation. They aren‘t saying that you have to spend that every year, but on average that is the cost of the upkeep. It therefore has to be planned into the affordability calculation.

For example some years you might need to replace the windows or the heating boiler. If it is an apartment, you will also have Nebenkosten to pay.
I see. So this not money payed to the bank, but rough calculation of how much upkeep of the house/apartment will cost?
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Old 29.01.2021, 17:59
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I see. So this not money payed to the bank, but rough calculation of how much upkeep of the house/apartment will cost?
Exactly
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