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Old 11.09.2012, 17:22
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Holiday property - mortgage minimum

Hi, I'm sure this should be in a sticky somewhere but I really can't find it

Is the 40% deposit for a holiday property an absolute, or are there (reputable) companies that allow less?

Many thanks.
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Old 12.09.2012, 10:07
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Re: Holiday property - mortgage minimum

I think every bank will ask for 40%. Due to some overheating in some parts of the property market, there were new guidelines/recommendations issued by swiss banking association for all banks to require stricter lending requirements as of July this year. There are also tighter controls if near retirement, etc. and should the value of house change, you may be asked for more money, etc..

I have heard of some flexibilities if you have significant assets at the bank and other property that can act as collateral. But if you are new to CH, I am not sure if you would have that kind of relationship with a swiss bank.
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Old 12.09.2012, 11:16
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Re: Holiday property - mortgage minimum

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I have heard of some flexibilities if you have significant assets at the bank and other property that can act as collateral. But if you are new to CH, I am not sure if you would have that kind of relationship with a swiss bank.
Yes, I can verify this. It may also be possible to put down less than 40% if your bank considers the property to be under-priced. This, would, however, also mean that you would need a pretty good relationship with a bank in order for them to be prepared to conduct a full analysis of the the price compared to other properties in the area.
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Old 18.09.2012, 14:46
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Re: Holiday property - mortgage minimum

40% is the norm, we were approved for purchase of a holiday home by UBS, settled on the price with the owner of the property who was a real estate agent and just before we closed, they told us we could not buy because we were from the U.S. We have B permits and been here for 3 years, but apparantly can only purchase our primary residence and not a holiday home. Nice....
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