Hi there,

We're considering buying an apartment in Switzerland. We don't quite have the full 20% deposit required to buy though. But we do own a house in Ireland (no mortgage) that's worth around 500k.

Is there any way the banks would take this into consideration to help finance buying an apartment here?

Thanks!
Alan

some friends of ours have done exatly that, using their house in england as collateral for deposit over here, i dont know which banks are involved but it can be done, suggest you go and have a general chat with all the main banks as some may be more flexible than others.....

Its a definitive NO with Credit Suisse.

I thought they didn't accept securities from abroad.
Another problem is "about 500k" in Ireland at the mo wont impress much I'd bet. They don't seem to believe values estimated outside their bubble free world... But you never know 'til you ask I guess!

I'd be really interested to know how you get on on this one. They are likely to ask how realistic this '500k' is in the present climate, perhaps?

From what I've heard this is almost impossible as the bank can't seize a property in a foreign country. But you could take out an equity loan (over there) for the difference in the deposit and bring it over.

And it is a definite NO with UBS too (from our own experience).

Yes - from UBS

I was in the bank last week enquiring about mortgages & they told me that this could be done. They suggested it not me.

Guess if you don't ask you don't find out.

hi,
it's interesting to know, of course we also asked (as we were counting on this) and were told many things initially, but when it came to the final negotiations, it was not accepted and we could not use our then UK house as a security even when we had no mortgage on it. Good luck if it works out for you, we had to go with a plan B.

??? A lot of people have asked. Maybe you could tell us a bit more as it seems there are others who would like to do the same but can't/couldn't.

I agree!!! I would love to buy rather than rent here in CH, but my money is tied up in the house I can't sell back in the US.

Raiffeisen.
Try the little guys. They are often flexible and thoughtful about the real risk and not the paper risk.

Don't try Postfinance - good to bank with but outsource you mortgage.

HTH