🇨🇭 How to GET a MORTGAGE in Switzerland and BUY a HOUSE | Debt for LIFE 🇨🇭

In this video, we are going to see how to buy an apartment in Switzerland, how to ask for a mortgage in Switzerland and how to rent out (lease) an apartment in Switzerland. Of course, everything works exactly the same for houses.

What are we going to discuss?

- Calculate roughly which apartment you can buy and what is your price point. UBS Calculator with comparis interest rates in the description. Add another 3 to 5% on the liquidity that you need because you are going to have other expenses.
- Search for the apartment
- Call a financial advisor that will put you in contact with a bank; we have a family member that works at SwissLife Select, so we asked him. Now, the options are two, you can either let him do all the work, or you can take the situation in your hand and just ask him to put you in contact with one or more banks.
- Also, as soon as you found the apartment take the appointment to see it. Ask if the price is negotiable.
- Ask IMMEDIATELY for all the documents that you need for the bank
- Send all the documents to the bank or financial advisor. Most important are: The most recent taxes, even if they have not been accepted yet, salary certificates for at least the past month, better for the past 3 months (yours and of your partner), the certificate of second-degree pension and the job contracts. You will need more documents, but the bank or the financial advisor is going to give them to you or tell you what is missing. Also, mention the price of the property and how much you would like to put as a down payment.
- After a couple of days, pick up the phone and ask the bank if they can already give you a “Favorable Notice”, which basically means that the bank will give you the loan, they don’t yet know the interest rate and you still haven’t decided the specifics, but you have the confirmation that you will have the loan.
- At this point communicate to the seller that you have the approval from the bank, and he will give you the so-called “reservation”.
- Now that you have signed the reservation, you should ask the seller if you can start to look for a tenant. If he accepts also ask how you are going to handle the keys because the apartment is not yours yet! We found the tenant before buying the apartment, and we could have even had the contract signed already…
- If you find some tenants that are interested you can start asking them for the certificate of bankruptcy, the past 3 months salary certificates, and the job contract, these are the 3 most important documents that you need to evaluate.
- While doing this you should still annoy the bank and call almost every day, at one point they will ask you for an appointment.
- In the appointment you will discuss the mortgage and the modalities.
- Ask the notary or the seller if it would be possible to have the contract via e-mail, that’s because the bank will probably need it and also you will have to read it carefully and check if everything is inside it, for example, the porch.
- After you have this appointment go and annoy once again the bank, and tell them that you need all the papers and an appointment to sign the mortgage contract before the appointment with the notary.
- You will then go once again to the bank, sign the contract for the mortgage that you already discussed, and then go to the notary and sign the contract of purchase.
- At this point, you can already sign the rent contract, but make it start a couple of days, maybe even a week or two, after the purchase, this is because you still need to make one last appointment.

Tutti.ch: http://bit.ly/TuttiCH
Immoscout24: http://bit.ly/Immoscout
Interest rates: http://bit.ly/ComparisInterestRates
UBS Mortgage calculator: http://bit.ly/UBScalculator
Renting contact: http://bit.ly/ContractRentTemplate

📹 Coffee with the Markets Playlist: https://www.youtube.com/playlist?list=PLOh1JMHgcFPjjzJEDjRXPK-x7ok-8Sqla

What you will find in the video:

- 01:45 Calculate your affordability.
- 03:55 Look for the apartment.
- 04:40 After finding the apartment.
- 07:10 Make a choice.
- 07:55 How to find the right price for the rent.
- 09:10 The documents for the bank.
- 12:00 The downpayment.
- 15:05 The favorable notice.
- 15:45 The contract of reservation.
- 17:25 Find the tenant.
- 20:50 Amortization and Mortgage.
- 25:55 Appointment with the notary.
- 28:00 Sign the contracts.
- 31:00 The renting contract.
- 32:00 Final stuff.

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Important notice: I don't give trading signals. Everything in this video is a personal opinion and shouldn't be taken as advice. This content is not presented, offered or intended as professional or expert advice, and is not to be used as a basis for financial, legal, or other decisions.

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Видео 🇨🇭 How to GET a MORTGAGE in Switzerland and BUY a HOUSE | Debt for LIFE 🇨🇭 канала Divity Finance - Tips for Finance & Investing