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Old 01.11.2011, 04:15
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CH mortgage for a CH house while in the US?

My husband (Swiss citizen with a US Green Card) and I (US citizen) are negotiating for a house. We are currently in the US, but we will move to CH within 2 years. Does anyone have experience with getting a loan in this situation?

The owners want a "letter of guarantee" from a bank for our pre-contract before the end of the year. We have the 20% to put down and the sale will complete next summer, if all goes well.

Is there such thing as a "co-signer?" My father-in-law would probably agree to it, if it would bring us (and his grandkids!) closer.

We have a great credit rating in the US. :-/
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Old 01.11.2011, 09:19
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Re: CH mortgage for a CH house while in the US?

I think it depends on the bank, but it could be difficult. One big bank that starts with U, will likely say no. We discussed this with them about a year ago, as they do not allow accounts, yes mortgages are accounts for them, for US persons and non-US persons domiciled in the US. They specifically mentioned that some people had tried this, and they did not allow it, forcing them to sell the property, ie. that they had bought while domiciled in CH, then went to US, hoping to rent or keep the property. Seems some other banks were following suit, but best to ask/shop around, some others may not have such restrictions. However, with new US exterritorial laws coming into force, I suspect most banks will get even more stringent in the future.
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Old 01.11.2011, 14:51
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Re: CH mortgage for a CH house while in the US?

Yeah, we're worried about that. We had an account with the U-Bank (:-/) and were basically forced to close it.

What about Bank Guarantees? Any luck with these?
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Old 01.11.2011, 17:10
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Re: CH mortgage for a CH house while in the US?

Another question... any banks you can recommend that are more "US friendly?"
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Old 01.11.2011, 17:33
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Re: CH mortgage for a CH house while in the US?

Post Finance is more US friendly for sure. Your husband can open an account no problem, but you may have to wait until you have residence.

As far as a mortgage, I am not sure about that one.

www.postfinance.ch
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Old 02.11.2011, 01:30
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Re: CH mortgage for a CH house while in the US?

My Father in law's going to talk to a lawyer tomorrow. We hope to have a plan by then!! Thanks for the replies
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