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Hello. Is it possible to get a mortgage from a Swiss bank to buy a house outside of Switzerland? Where can I find these mortgages?
Greetings,
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Many Swiss banks do not accept mortgages on homes outside of Switzerland. However, some banks do accept mortgages on properties in specific countries.
Crédit Agricole Suisse, for example, finances home purchases in France. Amortization and down payment conditions are different to those which apply to mortgages on Swiss properties.
A number of Swiss banks will finance properties in Germany. This service is more widely offered at branch offices in towns close to the border which are familiar with regional property markets. Here too, a number of unique terms and conditions will apply.
If you plan to buy a home in a neighboring country, banks in border regions are a good place to start looking for the right mortgage because they will have more experience with cross-border financing. You can compare mortgage rates using the moneyland.ch mortgage comparison tool.
Finding a mortgage to finance a home in a far-flung country is difficult because banks are not likely to take on the risk associated with foreign properties.
If the property you want to buy is relatively cheap, financing the purchase with a personal loan may be a better solution. Personal loans are granted based on your overall creditworthiness and do not use a property as collateral like mortgages do. However, the interest rates are much higher than those charged for mortgages. You can find the cheapest personal loans using the moneyland.ch personal loan comparison.
Best regards from Moneyguru
Bank Cler accepts mortgages for residential properties in Germany which are within the vicinity of Basel (as far away as Freiburg i.B. and Waldshut/Tiengen).
The Schaffhauser Kantonalbank accepts mortgages for properties in Germany, but only if they are within the immediate vicinity of the Canton of Schaffhausen.
In both cases, a Swiss income in Swiss francs is a prerequisite, in addition to standard affordability requirements.
The rules which apply to mortgages on German properties are different to those applicable to Swiss properties. You are generally required to make a down payment equal to at least 25% of the property's value. You are also typically required to amortize the mortgage at a minimum rate of 2% per year.
Hello,
Anybody knows which Swiss bank provides a mortgage for property purchasing in Italy?
Thanks.
Hello
Would ask banks based in the canton of Ticino. In addition to the Ticino Cantonal Bank BancaStato, there are several others that are present there.
Perhaps Ticino banks also finance real estate in Italy, depending on the customer profile (where you live etc.)
I am dual citizen Swiss/Canadian living in Canada the last 23 years
was wondering if there is any Swiss banks that would mortgage/finance farmland in Saskatchewan Canada. Interest rates are less then half in Switzerland compared to Canada
Unfortunately, this will be very difficult. As a rule, Swiss banks do not finance any country or real estate abroad.
But perhaps there are exceptions. It is best to ask your bank if there is a possibility. And then perhaps the big banks UBS and Credit Suisse - although they are rather expensive.
The easiest way is to ask local banks abroad.
Mister Banks wrote on October 2, 2020
Hello
Would ask banks based in the canton of Ticino. In addition to the Ticino Cantonal Bank BancaStato, there are several others that are present there.
Perhaps Ticino banks also finance real estate in Italy, depending on the customer profile (where you live etc.)
I just called BancaStato. The answer is: No! They only finance properties in Ticino.
I don't know of any Swiss banks which accept mortgages for property in Italy. Not even the Swiss subsidiary of Italian bank Banca Popolare di Sondrio will do it.
The only banks I know of which finance property abroad are the Swiss subsidiary of Credit Agricole (for properties in France), and Bank Cler and Schaffhauser Kantonalbank (for properties in Germany near the Swiss border).
