Mortgage due to renew in 2028, I want to leave UBS

O

OxygeN

Active member
Hi
As per the title: my mortgage is due to be renewed in Summer 2028 but I don't want to keep it with UBS.
How do I have to proceed to be able to leave UBS and have my mortgage somewhere else?
Every bit of input will be helpful.

Thanks!

PS: @Baptiste Wicht you might write an article on how to move around mortgages ;-)
 
Hi

I have never done it myself, so I would probably not be qualified to write a good article on that :)

Look at your contract to see the termination deadlines. This will give you a good idea of the time you have left.
Then, approach some banks you are interested in and ask them for an offer. If they have any sense, they should be able to help you since you are bringing them new business.
 
I think the basic principles of changing your mortgage provider are the same as for changing any other provider. Of course, mortgage is a higher amount than most other services and directly tied to your place of living.

To second @Baptiste Wicht , some more suggestions:
  • Look around which companies offer mortgages and check which ones you feel comfortable working with. Check reviews on these companies. Don't forget to check out pension funds
  • Make an appointment. I think most companies still do in-person appointments for mortgages.
  • Use tools such as https://www.hypotheke.ch/ or https://chhyporechner.com/ or https://helvedom.ch/ to get an idea of current rates
  • Be sure to understand the basics of mortgages (e.g. difference between saron va. fixed)
Since you probably have good reasons to leave UBS, I'm not going into details. Just one remark: UBS seems to offer quite competitive mortgage rates. While I would not recommend UBS for banking or investment, I would generally recommend to include them when searching for a mortgage offer.
 
Hi guys and thanks for your feedback!
  • How much in advance should I look for an offer from a competitor bank?
  • Is it possible to "move" the mortgage before the 10-year limit is reached?
  • When using the tools suggested, what should I enter as "Kaufpreis"? The one from 2018 when I bought?

Thanks
 
OxygeN said:
How much in advance should I look for an offer from a competitor bank?
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I would not start too early, because the banks will not lock in the rates for your for long. I would personally start looking about 6 months in advance.

If you want to be sure, you can approach some banks 12 months in advance and see what they say.
OxygeN said:
Is it possible to "move" the mortgage before the 10-year limit is reached?
Click to expand...
Yes, but this means canceling the contract with UBS which can have serious penalties.
OxygeN said:
When using the tools suggested, what should I enter as "Kaufpreis"? The one from 2018 when I bought?
Click to expand...
I would say the price you bought it for, but I am not sure.
 
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