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Have you never taken out a mortgage before? Taking out a mortgage is not that difficult – if you keep a few important points in mind.
Get exact information – for example with comparis.ch
The purchase of living property and its financing changes your financial situation significantly. What can I afford, what do I want to afford? What are the fiscal consequences? Does the mortgage have an effect on my retirement provisions? Which is the best model for me? These are only some of the important questions. The better you are informed, the better your mortgage also suits your personal situation in the long-run.
Select the right bank
You already have a banking relation for years? You even know your bank consultant personally? He will be glad to make you an offer. But don’t leave it at that. The consultant will not make you an offer if you do not get other comparison offers. You should also give other providers the chance to win you over as a client. Choose the bank or insurance company that convinces you the most – due to the best conditions, the best consultation or the best support. You can only win!
Select the best model
There are various financing models – Libor, fixed mortgage, variable mortgage. You should know how the models differ from each other so that you can evaluate which model is right for you.
Be aware of the risks
The low interest rate situation is currently tempting. It has never been cheaper to finance living property. But beware: even if it doesn’t look like it at the moment, rates can rise again! What will you do if you take out a ten-year fixed mortgage today and the rates in ten years are 5%? Is that no problem for you? Or will you have to sell the house in that case? Is your old-age provision guaranteed for? Be aware of the long-term risks and include them in your decision.
The current rate situation for mortgage holders is fantastic: rates have never been so low, they can almost not go any lower. However, there are differences between the providers – partly significant differences. A comparison is therefore always worthwhile, no matter how high or low the rates are.