Looking for a mortgage on a new build. Well within my affordability. Simple 20% down in cash, 80% financed. Minergie/ green property.
UBS (who I have banked with long term) offered me
• 1% SARON
• 1.35% 5 year
• 1.6% 10 year
Asked them to be more competitive and they didnt budge.
Seems high compared to others getting 0.65-0.8% margin on SARON?
Time to go to another bank? Bit annoying to have the hassle after discussing the project with them for last month’s…
Do for the love of god not accept any of these offers and talk to other banks or even use Moneypark if absolutely necesarry.
The rates are not good and you can do much better in both SARON and 10y.
UBS is a very shitty company imho, they didn’t really want my business by the looks of it.
I would look for other offers and then come back to ubs.
This sounds worse than all of the 7 banks I talked with in April, maybe at par with ZKB that made the worst offer. And I was talking with the condition of max 5-10% cash.
Talk to 4-5 banks in parallel at least.
Yea thanks. Think I will have to go through the effort of visiting a few others.
Any suggestions for who was the most competitive? I am in Geneva so maybe different offers to the Swiss-German side
VIAC, local cantonal bank, CA next bank, raiffeisen - I believe all of these could possibly get better rates in one way or other
Or try this:
The cantonal banks are imho very good for local real estate financing. If you get 0.8 or 0.75 is not such a big deal imho, but 1% is very high, like you could get that with a margin loan at IBKR lol.
Is it a good strategy to contribute 50k to the second pillar (significant tax savings) in order to pay off the mortgage in a few years?
Tax efficient!
Yes. You need to wait 3 years.
If one contributes that 50k or another amount, does it lock the whole pillar 2 from withdrawal or just that amount from being withdrawn?
Yes… I have just read that a withdrawal request cannot be made within three years of buying back years in your 2nd pillar pension scheme. From the whole
It depends on your pension fund, best contact them.
The law only requires paying back the taxes, but I believe most pension funds do not bother and simply block withdrawals, either partially or in full.
(I’m in the pension fund committee at my company, and even then it’s unclear! The communication we got from them is that any withdrawals are blocked, but a close colleague apparently managed to make a partial withdrawal.)
Two things I spotted here: