Assumable Mortgage

An assumable mortgage is a mortgage which can be transferred from a homeowner to a buyer which purchases their mortgaged home.

When a home buyer assumes an existing mortgage, they typically pay the seller the full amount of equity held in the property (with possible markups or discounts), and then assume responsibility for the remaining debt.

In Switzerland, it is normally possible to assume a mortgage on a property when you buy the property – as long as you meet the mortgagee’s affordability requirements. It is also possible to assume a mortgage on a home inherited from or given to you by your parents.

Assuming a mortgage can be convenient and even favorable if interest rates are lower than currently offered rates. However, carefully comparing the terms and conditions attached to the existing mortgage and comparing these to those of other mortgages on the market is recommended.

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