The bank or insurance company we refer you to decides on the mortgage. The requirements differ from partner to partner. As a rule:
- Equity: at least 20% of the purchase price or the investment.
- Affordability: Your income must be able to cover the costs of the mortgage, that is interest, amortisation and ancillary costs, over the long term. The partner decides how affordability is calculated.
- Creditworthiness: a stable income and a debt collection register extract without entries.
- Valuation: The bank or insurance company values the property itself.
- Place of residence in Switzerland or a valid residence permit.
- Age: The partners set any age limits.
For companies, the partners usually also require the annual financial statements for the last two years, the tax returns and a current debt collection register extract. The purpose must be clear, for example purchase, construction, renovation or refinancing.
For the property, you usually need the land register extract, proof of building insurance, and plans and photos. For a construction project, the building plans and the cost breakdown are also needed.