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Buying in Switzerland, what do I need to know?
We deal with all of the Swiss Banks as well as a number of European investment banks. Dealing with so many banks allows us to offer you the best deal whatever your circumstances.
After years of operating in Switzerland from our office in Geneva and due to the volume of business that we introduce to banks, we regularly negotiate lower interest rates and fees than you would normally be offered by the banks.
What type of property can I get a mortgage on?
We can arrange mortgages for individuals or companies to buy main homes; second homes; rental or investment properties; off-plan properties and commercial properties.
Equity release mortgages are available.
What currency will my mortgage be in?
All Swiss banks will provide mortgages in Swiss Francs, which has one of the lowest interest rates in the world. Other currencies are available.
What is the maximum loan amount (LTV%)?
Depending on the valuation of the property, or purchase price, non-residents can borrow up to 80%. All mortgages are subject to income but some banks will also take rental income into consideration.
What is the minimum loan amount?
The minimum loan amount that Somerset Mortgages will consider is €75,000.
How long is the term of the mortgage?
The mortgage term can be from 5 - 100 years.
(It is very tax efficient to have a mortgage in Switzerland)
How much will the bank charge me?
Generally the banks will charge you a 1% arrangement fee, however we will negotiate on your behalf to reduce this.
Do I need life assurance?
Life assurance is only mandatory with some banks, but always recommended. We can help you arrange this at minimal cost.
Which mortgage types are available?
Both capital repayment and interest only mortgages are available for both purchase and equity release.
Interest rates
The interest rate will depend on the currency of the mortgage. For example, if a Swiss Franc mortgage was selected then the Swiss Libor would apply, plus the bank's margin.
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When buying property overseas, we recommend that you seek professional tax and legal advice.
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