No, that is not a condition. However, customers usually benefit from additional perquisites.
They follow the same basic principles as a bank: payments should not exceed one-third of gross income, assuming an interest rate of five percent, amortisation of one percent and maintenance costs of one percent each year.
Prospective buyers must have at least 20 percent equity in their home. Also, at least ten percent must be taken from their own savings, not from an occupational benefit scheme.
Yes. The first mortgage can cover up to 65 percent of the property’s value. Once the buyer's down payment has been deducted, the rest is often financed with a second mortgage.
Insurance companies finance mortgages with premiums that cover the same period. This almost completely eliminates the interest rate risk and so significantly lowers the hedging costs.
Insurance companies have to put their customers' premiums in secure long-term investments that generate the income they need to meet their obligations, such as paying guaranteed interest on premiums. While federal bonds and equally secure investments pay zero or even negative interest, mortgages still offer stable long-term income with a similar risk profile.
Helvetia offers variable-rate mortgages and fixed-rate mortgages with terms from two to 20 years.
Insurance companies do offer mortgages with indirect repayment, for example, through a life insurance policy.
Yes. The second mortgage must be repaid by the time of retirement.
Yes. Helvetia offers mortgages for second homes. However, they must not be rented out and or exceed a loan-to-value ratio of 50 percent. Also, the principal residence must have been financed through Helvetia as well.
Helvetia offers mortgages for these types of properties in certain circumstances. The maximum loan-to-value ratio is 65 percent.