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Old 08.06.2010, 12:28
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Can you transfer a Swiss mortgage to France?

Hey everyone can you help I am lost

I am forever dreaming of owning a home one day instead of an apartment... I guess it is an english thing... and I was wondering...

Can you transfer a Swiss mortgage to France?

My story is that I bought and invested in a studio in Switzerland and now it is time to move up the market. If I sell this studio and move to another apartment in Geneva this would be ok. If I decide to sell and invest in something just accross the border is this possible?... ok it may not be my dream home but the options to buy are much better.

Thanks if anyone has any advice.
So far I am doing it alone and still trying to understand the swiss mortgage system. Thanks, Liz
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Old 08.06.2010, 14:24
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Re: Can you transfer a Swiss mortgage to France?

Whether you can transfer your mortgage onto a property in France will depend on a) where exactly ie how close to Switzerland and b) your mortgage lender. I'm sure I have read that swiss mortgage lenders will lend against property close to swiss borders, but I don't know any details. Of course, for mortgage purposes, it would probably have to be your main residence and not just an investment, so you would change your residency status and permit type. I'm not sure how easy the 'Buy-to-Let' type of mortgage is to obtain in Switzerland (it's even difficult/expensive in UK now).

Also, just be careful if you have capital gains from price appreciation on your Swiss property. If re-purchasing within Switzerland you can defer CG taxes (which can be large) - you should check whether the same is true if you purchase outside Switzerland, but I would guess not.
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Old 08.06.2010, 14:50
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Re: Can you transfer a Swiss mortgage to France?

I don't think you can transfer a mortgage, more likely pay off the current one and then get another one. Most banks give the mortgage based on certain conditions, and a new property would likely be totally different. I don't know if Swiss banks give mortgages on foreign residences, it has been discussed here, search the forum, but I think not. The market in France is quite different. You can however, take out a french mortgage on a property in France, and have it denominated in chf, that is possible. Be aware of the tax consequences if you sell apt. for a profit. Not sure re-investing in a foreign property will get you off the hook with the swiss tax office.
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Old 08.06.2010, 17:19
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Re: Can you transfer a Swiss mortgage to France?

Quote:
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I'm sure I have read that swiss mortgage lenders will lend against property close to swiss borders.
they used to, but I recently asked Raiffensen, UBS and Credit Suisse and they all said that they are not doing this.
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Old 08.06.2010, 17:46
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Re: Can you transfer a Swiss mortgage to France?

Great comments thanks, these were the questions that came up really. As the only way it seems in Swiss to move up the ladder is to transfer your mortgage and so avoiding as you said the Capital gains tax that can otherwise be huuuuuuuuge. I agree. I

t would be interesting to see for something just across the border but I fear as you say the tax people chasing after you.

My bank is Credit Suisse and they said even if over the border no way!. That was basically the jist of the response. It has been hard working out the market and also these days agencies are putting up an apartment for sale and the prices in Geneva are going through the roof to find anything.

Thanks for your help!!
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Old 08.06.2010, 17:55
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Re: Can you transfer a Swiss mortgage to France?

Not sure if this helps, but I am sure it won't hurt.

Credit Agricole Financements Suisse actually give you mortgages in CHF for properties in France or in Switzerland.

http://www.ca-financements.ch/
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Old 09.06.2010, 14:10
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Re: Can you transfer a Swiss mortgage to France?

Thanks for that yes I will approach the bank. But I guess if you get a mortgage in France even if in CHF you risk paying gains tax as the place would be in France?.

Also it would be a good question for the bank.
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