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?
Click to expand...
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.
 
OxygeN said:
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 ;-)
Click to expand...
Summer 2028 gives you plenty of time. Leaving at maturity costs you nothing in penalties. The main work is preparation.

1. Read your contract now
  • Find the exact maturity date. If you have several tranches, each can expire on a different date.
  • Check whether you need to give notice, and what happens if you do nothing. Some contracts roll into a variable/SARON product automatically.
  • Look for anything tied to UBS: a pledged 3a, insurance, or account conditions.
2. Timeline
  • About 18 months before: start watching rates.
  • 12 to 6 months before: request offers. Most lenders let you lock a rate in advance with a forward mortgage, usually up to 12–24 months ahead for a small surcharge.
  • Don’t break the current mortgage early. The prepayment penalty almost always cancels out the savings.
3. Expect a new affordability check
A new lender treats you like a new client. They recalculate with an imputed rate of about 5%. Interest at that rate, plus amortisation and maintenance costs, must stay under roughly 1/3 of your gross income. They also re-value the property. If your income has dropped or the value has moved, you may get less flexibility elsewhere than at UBS.

4. How the switch works
  • The new lender approves you and sends UBS an irrevocable payment promise.
  • On the maturity date, the new lender pays off UBS.
  • UBS then transfers the mortgage note (Schuldbrief / cédule hypothécaire) to the new lender.
You mostly just sign. Expect only small notary/registry costs.

5. Who to ask
  • Directly: banks, cantonal banks, insurers and pension funds. Insurers are often strong on long fixed terms but usually lend less relative to the property value. It can take times and negotiating is not your cup of tea.
  • Through a broker: they compare dozens of lenders and handle the paperwork. Some are paid by the lender (free for you), others charge you a fee. Ask upfront how they’re paid and how many lenders they actually query.
6. Use competiton even if you forced to stay
UBS is fairly competitive at the moment, but that depends on its appetite at the time. Get 2–3 outside offers and show them to UBS, because retention offers are real. Staying is a perfectly good outcome if they match.


Disclosure: I run neo-hypotheque.ch, an independent broker marketplace. We built a free alert that reminds you 12, 6 and 3 months before your renewal date, which is handy when the date is this far out: https://www.neo-hypotheque.ch/taux-hypothecaires-alertes-notifications/
 
You must log in or register to reply here.
Back
Top