How often do you switch mortgages
Change providers when replacing the mortgage
Replacement of the mortgage by a third-party bank
At some point, no matter how long a fixed-rate mortgage has been chosen, it will expire or the previously chosen mortgage model no longer fits the current situation. If a mortgage needs to be renewed, most mortgage borrowers are concerned about replacing the mortgage with another provider. This is also recommended: It is not uncommon for the house bank to lower the interest rate only under pressure, that is, when one or even better several third-party offers are on the table. When replacing with a third-party institute, it is essential that a structured approach is used.
Finding the right time to get rid of the mortgage. More on this at HYPOTHEKE.CH: Find the time of the mortgage repayment
Demand the same from all providers
First of all, it is important to prepare a comprehensive dossier on your personal income and asset situation and on the property to be refinanced. It is advantageous if you already have a fairly precise knowledge of which mortgage and what mortgage amount is the right one for you before the discussions. Otherwise you run the risk of having five offers, but not really being able to compare them with each other. When talking to the potential lender, you can definitely mention that other banks are “in the game”.
Mortgage repayment process
Once you've decided on a mortgage model and found an affordable provider, most of the work is done. Switching financing partners is easier for mortgage borrowers than some people think. The new lender will make sure that everything is as straightforward as possible for their new customer. So he will see to it that the previous lender hands over the mortgage notes to him, in return he will transfer the money for the repayment of the mortgage. A change of mortgage institution by the borrower does not usually have to be reported to the land registry if the amount of the mortgage note remains unchanged.
You can find more information on the subject of mortgage redemption here:Tips Replacing / Extending Mortgage Common mistakes when extending the mortgage
Auction platform for mortgages
To find the best interest rate, VermögensPartner AG has developed an auction process for mortgages. Auctioning is a very efficient way of finding the really lowest interest rate on the market. Every bank in Switzerland, including your house bank, can bid at the auction. There are no commissions. In many cases, banks, insurance companies or other potential lenders come into play that the customer himself had not even “seen”. You can find more about this new and innovative concept here:Auction platform mortgages
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