Buying and selling a home

story from: Touring myHome 01 / 2020 german

Negotiating your way to the best mortgage CHECKLIST

The unusual monetary policy and the low interest rate environment are also reflected in mortgage rates. Although interest rates have remained at low levels for a long time, there is still potential for savings. We show how to finance your house step by step in an optimal way.

R and 70 to 75 percent of tenants in switzerland dream of owning their own home. But more often than not, the plans fail because of the high financial hurdles. Especially in the agglome ra tions and in selected locations on lakeshores, prices have risen in the last five to ten years.

To get a mortgage, apply according to the current min dest standards of

Ban ki er vereini gung and financial market regulator (FINMA) strict rules. The important thing in brief: you must contribute 20 percent of your own funds. So with your own savings of 100,000 francs, the maximum possible purchase price is 500,000 francs. You can double this limit if, for example, you can cover an amount of the same amount again via pre-provision money (pillar 3a or pension assets of your pension fund PK).

Affordability of the mortgage: high hurdle but note that, according to the minimum standards mentioned above, at least 10 percent of the purchase price cannot be covered by pension fund money. The rest must be "hard" equity (i.E. Not loans from relatives or friends that are repayable). Further it is to be remembered that the requirements with the income are high. The home expenses that you have to budget for must not exceed one third of your gross income. The current low interest rates are not used in the affordability calculation, but rather a long-term average interest rate of 4.5 percent or 5 percent. →

Affordability and beleh

Nung: the better the customer's credit rating and the more equity he contributes, the better the interest rate conditions. Compare: obtain at least three to six offers from banks, insurance companies and other providers. Strategy: there is much to suggest that we will continue to have low interest rates in switzerland. Choose products and maturities that allow you to benefit 1:1 from the low interest rate environment. In retrospect, it is of little use if you enter into a very long fixed interest rate agreement and the interest rates do not increase after all. Planning finances: loan agreements are binding. The customer enters into a multi-year debt obligation. It's about more than just the mortgage. Get advice and draw up a longer-term financial and pension plan.

The banks see this as a kind of "stress test" for a customer. There must be a guarantee that he could still finance the mortgage well even with higher interest rates than today. The hurdles are set high: for a purchase price of 800,000 francs, for example, you must be able to prove an income of around 125,000 to 130,000 francs. Under the heading "mortgage calculator" on the banks' websites, you can do your own calculations and try out different options. True to the motto: "what can I afford?? "

"The mommy and daddy bank" if the financial leeway for prospective buyers is still tight for the time being, there are often only two options: save for longer or find a cheaper property. Of course, property prices are more favorable in peripheral communities and in the countryside. But every household and every couple must weigh up carefully how they set their priorities. Most experts note that the demand for private residential property has nevertheless hardly diminished.

Peter ilg, professor at the zurich school of economics (HWZ), is convinced that today parents and relatives often provide financial support – for example in the form of advance inheritances, gifts or non-repayable loans. Peter ilg talks about the "mommy and daddy bank", which often plays a decisive role today. It is important that this "cash injection" is not considered a repayable, interest-bearing loan. Because otherwise the capital would be clearly counted to the external capital, analogous to the mortgage of the bank. Loan application: what does the bank look for?? Anyone who negotiates with banks as a house or apartment buyer should know the little abcs of the credit check and the affordability calculation. An applicant who is well endowed with own funds – in whatever form – acts from a stronger negotiating position. Just as important are solid income relationships – in the case of couples, whenever possible with solid liability on the part of both partners. The bank also takes a closer look at the financed property – how good is the location?? Is the property in good condition??

For a loan application, you need detailed information about the property, your income and assets, and of course your personal data. In the case of condominiums, the banks usually want to see the specific documents – such as the detailed partition plans of the condominium (net living space, adjoining rooms, etc.).) as well as to the regulations of the floor owners – community.

Only those who understand how the financial industry "ticks" can negotiate the best offer. Save 0.3 to 0.5 percent " if you compare the interest rate conditions, you will often be able to close a deal half a percent lower," says florian schubiger from vermogenspartner in zurich. It should be remembered that a large number of banks, insurance companies, pension funds and new online providers can be considered as lenders. If you simply accept the next best offer from your bank, you will end up paying more interest.

But you should also be warned against "bargain offers": test with a binding, individual loan application whether the offer would really be competitive. It must also be remembered that home financing usually involves a very long commitment to a particular financial partner. This is due to the fact that fixed-rate mortgages with long contractual terms are very popular. So again, get some more independent informa tion and ask around in your circle of acquaintances –

Negotiate and save interest

Mortgage rates are still attractive. But anyone seeking a mortgage from banks or other lenders should understand what makes the industry tick. A good credit rating of the customer and a high percentage of equity promise the best interest rate conditions. It pays to invest enough time. Because products and interest rates vary enormously today. Only those who compare and negotiate thoroughly and only then conclude the deal will receive a tailor-made offer.

Otherwise you will face the unpleasant scenario that the bank will raise the interest rate at the next opportunity. Bottom line: if you acquire some basic knowledge, you can negotiate on equal footing with the bank and will set the stage right. ◆


TCS home: the breakdown service for the home

Quick and uncomplicated help in the event of a breakdown; that's how you know the TCS, especially from the road. TCS project manager daniel wyss explains why the TCS cares about the households of homeowners and condominium owners.


Daniel wyss, you are project manager at TCS – your project is called " TCS home " the breakdown service for the home; how did it come about??

TCS offers its members home charging stations for electric vehicles. The assembly of the wallbox

And the instructions are given by the TCS patrouilleur. From this point of view, the breakdown shifts from the road to the loading point, i.E. To the household of our members. We then asked ourselves what else can happen currently and in the future at home, where the TCS

Leave the work to the TCS at home, too. Can stand by its members with its competence. Figuratively speaking, we have stepped over the doorstep of the members into their home.

And, what came out?

When things go wrong on the road, the TCS comes to the rescue – it's a well-known fact. We "rewrote" this in the project team, so to speak, and said to ourselves, "if things don't work out at home, the TCS will help". In this pilot project, we focus on home safety and provide our members with advice, protection and assistance. This is how the " TCS home " product came into being.

Give us an example.

Gladly! You come home on a friday evening and enter the bathroom. You notice that the floor is wet. You look and find that the siphon in the lavabo is leaking. You call the TCS home hotline, describe your problem and we will organize the right craftsman for you. This one comes before at, fix your siphon problem and good is! The invoice for travel costs, working time and small materials is sent directly to the TCS by the craftsman.

Isn't that a bit sought after? No, not at all. This is the reality; sanitary facilities, the gutters, clogged drains in the kitchen, cold radiators, dishwasher,

The breakdown at home; unexpected, unsolicited and untimely. TCS HOME

Breakdown protection for homeowners and condominium owners. Our experts are available for you around the clock and will organize the work for you. TCS will pay the costs for the immediate assistance for you. Find out more at tcs-home.Ch and sign up.

When things get out of hand at home, the TCS can help.

Gutters: clear the gutters of leaves in late autumn. Guaranteed not to get your feet wet! Bathroom drains: unscrew the shower spray and flush the drains (shower, bathtub, lavabo) vigorously, one push at a time. Residues of shower gel, toothpaste, hair and others are dissolved in this way. Toilet cistern: put a liter of vinegar in the cistern, let it sit overnight. The next morning calcifications can be removed effortlessly.

Thermostatic valves on radiators:

Make sure that the heating valves are always open outside the heating period. Otherwise the valve blocks and at the beginning of the colder season the radiator remains cold. TCS home: despite the best maintenance and upkeep, things happen unexpectedly and inopportunely; so take out TCS home and benefit from our services.

They stopped pumping – these are just a few examples of glitches at home that we were able to successfully fix. As I pointed out earlier – when things get stuck at home, the TCS will help.

Isn't this rather a "luxury problem"; the siphon can be "closed" by yourself and a craftsman can also be called in independently, or?

My craftsmanship skills are modest. Thus, this option falls at

Me away already. You are right about hiring the handyman independently; I live in a small village and know " our " plumber personally. However, he also has vacations and does not offer a 7/24 service; TCS home complements the existing, local offer.

You talk about craftsmen and breakdowns at home; i think they are currently learning a lot, right?

Yes, that is definitely so. TCS home is a pilot project in selected regions.

We are also actively supported by tradespeople. You are part of this project. We regularly see craftsmen applying to be part of it. It remains exciting!

What does the future look like?

TCS home will be launched this fall in the whole of western switzerland and the cantons of wallis, bern, baselland and baselstadt. What other services we can add to the product and what TCS home can look like for tenants are currently occupying us a great deal. –

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