Loans and mortgages Finance your property in Switzerland

Mortgages

Mortgages in Switzerland are mainly provided by the banking sector, although pension funds and state entities may also issue them. Mortgages can be easily obtained by foreigners provided they meet the basic criteria.

Loans and mortgages
The amount of money you receive will be based on both your financial situation as well as the value of the property you're buying. In Switzerland, foreigners can expect to receive mortgages between 60 and 80 percent of the total value of the property. Unsecured-conditions are not available, which means that the lender will take into account any responsibility you may have in your home country (mortgage or rent, loans, maintenance payments) and will require proof of income (income earned , pensions, income from investments, although not all reconocirán).

Swiss mortgage you always give in Swiss francs. The duration can be 5 to 30 years for loans up to 80%, and 35 years for those who go up to 60%. However, the mortgage must be paid before you are 70 years old.

Interest rates are approximately 2.5% (in 2010), although this varies according to your mortgage. It may be easier to arrange your mortgage in your home country, but then you have to pay for currency exchange rates. Moreover, interest rates in Switzerland is one of the lowest in the world, so you might want to make your mortgage more in Switzerland, especially if your income will also be in Swiss francs.

Try to get several offers (three alreadedor) conpañías different banks or insurance companies, as there is a fierce competition among providers.