I got an offer for 0.99% margin from UBS. Still looking around, but it seems to me that the 0.5% margin offers did disappear, probably with the new equity requirements for banks.
Now, 0.99% margin plus Saron is more than I would pay for a margin loan of the same size at Interactive Brokers. Considering it, but still looking around. There seem to be no online or at least e-mail offers around, they all want to call. I don’t want to speak before I decide and I am out of Switzerland for still some time.
Or I could just sell some stocks and pay it back. Considering that too. My AHV that I get this year would cover about the same amount of dividends I would lose, but of course the capital gains are another story…
If I remember right, you are on the end of a contract, thats the reason why they can increase the margin, right?
If so, you could tell them that it is their job for a new contract to evaluate their securities.
about the unspecific answer for margin reduction, I would kindly ask to speak to a person that has the rights to talk about numbers. I hate it to get generic answers to specific questions..
Anyway, I think a counter offer would be a good asset in your negociation. Even it is only to show them the new evaluation of the property value.
The longer I read this thread the more I am awaiting the same communication for my own saron mortgage..
I’ll ask my other bank but I was always reading here that it’s difficult to get anything interesting when splitting a mortgage between two banks.
Update on the topic after I called them: if I invest 500k with them at the competitive TER of 1.2% (!), I’d get a 0.05 discount on the margin, I think I don’t need to run the numbers to judge the attractiveness of the option.
They say it has all to do with Basel III and that they wouldn’t change the margin by re-evaluating the property (earliest in 2026).
I tried a lot of banks and insurances. Many just said they don’t give my any mortgage because I don’t fulfill the income requirements, my taxable income is too low. Probably I should put only half the value of my house into the applications, that would lower the needed income.
Had only one better offer and it is only 0.09% lower. Not worth it, I probably stay with UBS.
I have no valuation for the house, but the new GVZ insurance value of the building is already 100k more than I paid for house and land, a double parcel, was re-zoned to W3G.
They calculate a percentage of the value for maintenance and that should be no more than 33% of the taxable income.
To get at least some more offers I could put in the tax value (that will change this year) plus 20%. I did put in the market value.
But I am tired of all those companies wanting to call me and probably just re-evaluate later when I’m back in Switzerland. There seems to be no viable way to just compare the margins of different institutions online.
Baloise wanted to send a SMS, I gave my spanish number and it never got here. So no offer from Baloise. Comparis moves you to a partner who wants to do a consultancy. WIR bank wants to speak to you. Only Raiffeisen gave me a online offer about 0.09% under the actual margin, but with a 5-years duration (the actual mortgage I can terminate in 30 days).
Today I checked with my bank and they will not be raising the margin on my SARON upon maturity but they confirmed they’ve raised their margins on new business.
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