Cash-out refinancing

Good afternoon, everyone. I'd like to do a cash-out mortgage on a home that is already fully paid. (See: https://www.moneyland.ch/en/cash-out-refinancing-definition). For purposes of the mortgage comparison tool here (https://www.moneyland.ch/en/hypo/index), is a cash-out mortgage a "refinance" even though there is no prior mortgage in need of refinancing? And, perhaps more importantly, is a cash-out mortgage a product that the banks and companies listed in the mortgage comparison tool will actually provide?

Thanks very much for your assistance. 
 

As a postscript, some readers might be wondering about the purpose of a cash-out mortgage. In some situations, it can be beneficial from a tax perspective and/or from an investment perspective (low interest leverage). 

To my knowledge there are no Swiss banks which offer cash-out refinancing as such. But many Swiss mortgage lenders give you the option of “increasing a mortgage.” This is similar to cash-out refinancing except that instead of refinancing a mortgage, the existing mortgage is increased and the difference is paid out as a loan. Banks normally require a new valuation of the property and an evaluation of affordability requirements before increasing a mortgage.

In your case, because the home in question is bought and paid for, you do not need cash-out refinancing or a mortgage increase. As long as you meet affordability requirements, you should be able to simply mortgage a portion of your home’s value in order to obtain the liquid capital you need. The interest rates should be the same as those for mortgaging new homes, and because you own the home, you have more room to negotiate (you aren't desperate).

Reverse mortgages are another option for converting real estate assets to liquid assets while maintaining ownership. But reverse mortgages are not well suited to short-term financing. This guide provides lists the current options in Switzerland: https://www.moneyland.ch/en/reverse-mortgages-switzerland

Hope this helps

That does help. Thank you very much.