Switzerland: reliable investments into the stable country. Complexities
It is connected to the certain timetable. The bank will ask for the personal meeting with the future borrower, during which will ask questions concerning the family status, occupation, size of the annual income.
According to the law, Swiss banks are obliged to check up a source of money resources of the buyer to make sure that the money does not go from the business connected to traffic in arms, drugs, terrorism, etc. Banks check presence of money resources and ask to give the documents, which can confirm the income.
The bank can also ask granting guarantees in the size of about 20 % from cost of the real estate object. It can be any assets of the buyer (money resources on the account, securities, real estate, etc.). The question is, whether the buyer can give such documents. If not, the bank asks to set up a separate account and deposit money for payment of interest on the mortgage credit.
- Switzerland: reliable investments into the stable country.
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