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Old 20.01.2020, 08:35
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Find mortgage for in Switzerland for Australian primary resident

Hello Everybody,

8 years ago I took out a mortgage with the UBS for my chalet. This year they will not renew it due to my primary resident status in Australia.

Does anyone know of a Swiss bank that would take over this mortgage?

Wishing everyone a great day!
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Old 20.01.2020, 09:11
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Re: Find mortgage for in Switzerland for Australian primary resident

i can't recommend anyone personally, but maybe speak to a specialist mortgage broker (both in Switzerland and Australia).
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Old 20.01.2020, 10:30
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Re: Find mortgage for in Switzerland for Australian primary resident

I spoke to these guys and while I did not refinance their knowledge on best fit was impressive.

https://moneypark.ch/
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Old 20.01.2020, 10:30
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Re: Find mortgage for in Switzerland for Australian primary resident

I know Raiffeisen offer loans to non-residents. They ask for slightly more than the normal 80% of the banks valuation, need to be shown you can afford the interest repayments (based on a hypothetical 5% and then covered 3.5 times (can vary) by your net income after any other mortgage you may have). They also charge a slightly higher interest rate than for a resident and may want some assets placed there.

This is likely the case for most other banks as well but not sure why UBS refused you. It could be you gave them no other business and it was not worth their while?

Otherwise as suggested speak to a specialist broker, but expect to pay a fee in one form or the other.
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