I have received a good offer for a fixed year mortgage with Swisscanto.
I got the offer through a broker, and wanted to check out the bank online to get a bit of detail but the Swisscanto website only shows it Investment products.Nothing about mortgages
Anyone got any experience of having a mortgage with them?.
Im sure its fine, but just want to know a bit more about Swisscanto before I sign up
Thanks for any help
Could you give us more details: rate, length?
Sure. 5 - 10 year fixed for about 60 bips
Its not so much the details, its just that I cant find anything out about swisscanto and specifically its mortgage business in general.
Just wondered if anyone had any experience before I signed up with them.
Swisscanto is owned by ZKB. They are professional and knowledgeable.
Just 2 points
fixed mortfages may become a nuisance when a life event interferes. Per general conditions, you owe all interest until the end.
insurance companies have lighter reserve requirements and are therefore usually cheaper, esp. with “good risks”
Thanks Strabor. Good point
Apparently I can take the mortgage with me if I move, or sell on to a buyer. And if i fix longer, 10 years, the rate could even be below 50 bips so would be attractive to a buyer.
But like you say, fixing for a long time does have risks.
Have to have a think.
Yes, if the buyer and the bank are ok with that.
Another point you might consider is that fixed mortgages are often regarded as essentially a bet against the market/the bank. While no one can predict future interest rates, the bank has much more expertise.
Maybe this is of help, should you not already know it:
Thanks again Strabor
My feeling is that rates cannot go any lower, lower than 50 bips and the bank will be paying me to have a mortgage
so fixing for long term is not a bad idea. The life event point is a good one, but the risk of lower rates cant happen, not materialy anyway i suppose
Why can’t negative interests on mortgages happen?
You may well be true but I personally think that the rates cannot go any higher than 50 bips.