SARON is valid for the interest period from the current day until the following morning. To avoid having to pay interest every day, key4 offers interest periods of three months. To determine the interest rate for the relevant period, SIX offers the reference interest rate “SARON Compound.” This is calculated from the average of daily compounded SARON interest rates, to which an agreed margin is added. This means that the interest payment amount is determined at the end of the interest period rather than at the beginning.
Just wanted to share my recent experience: I had to renew my fixed-rate mortgage, and the previous Bank did not want to offer a good SARON margin (was not able to negotiate it below 0.6% even with forwarding better offers to them). The mortgage is for a flat near Zurich, and the mortgage amount is below 60% of the current market value. From Swissquote (LUKB behind that offer), I got a 0.55% margin offer. I have also tried with the platform “hypotheke.ch”, and was able to get an offer with a 0.46% margin, which I then accepted. In the past, I have also used other platforms like Hypoplus, but their offers were never better than the ones I was able to negotiate with the banks directly. I was really positively surprised by the offering of hypotheke.ch (have found them with some Google search, never heard of them before). Looks like they invest more into the technology than in just selling you anything. The rate displayed on the very first step was also the rate which I finally got in the bank contract. At the end, they even share a part of their kickback in case the bank is paying more than their “platform fees” - which was the case for the bank I accepted the offer.
Very nice ! Seeing a lot of mortgage offers in various IT systems across CH I can confirm that anything below 0.5 is indeed close to the best. I recently got 0.5 % margin directly from a bank (client of mine in fact so I know them really well) and this was surely close to their best offer given my circumstances so I m jealous with your 0.46 lol.
I am not sure if I can disclose the name of the bank (because you can only see the company names after you enter the details of the house, and provide an email address on hypotheke.ch - if you are interested, it probably takes you 5 minutes), but at least I have never heard from that bank before. It’s a small regional bank from the Bern area with just a few offices. The process was fully digital and took just a few days to close though.
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