immo!nvest – Die Plattform für Standorte und Immobilien

Tag: Finanzdienstleistungen

  • Evorest launches digital investierte Mietkaution

    Evorest launches digital investierte Mietkaution

    Evorest offers Swiss tenants the opportunity to invest their rental deposit in funds instead of keeping the money in low-interest accounts. The Zurich-based fintech, which was founded last year, has selected “ten tried-and-tested ETFs from leading providers such as UBS and iShares from Blackrock”, explains Evorest in a press release. When invested here, the deposits should “grow with the market and generate a return at the same time”.

    Property owners and managers take no risk with the deposits they invest. The rental deposit is guaranteed by Evorest for the full amount paid. In the event of rising prices, there is even higher loss cover.

    Evorest has teamed up with Hypothekarbank Lenzburg to implement the new solution. There, the deposits are paid into a rental deposit account in the tenant’s name with an associated custody account. The account is opened and paid into digitally via the open banking interface of the Finstar banking platform. If you do not wish to invest, you can also set up a traditional rental deposit account with Hypothekarbank Lenzburg. All deposits can be made completely digitally in just a few steps within a single day.

  • Fixed-rate mortgages are more attractive than Saron mortgages for the first time

    Fixed-rate mortgages are more attractive than Saron mortgages for the first time

    Fixed-rate mortgages are currently more attractive than adjustable-rate Saron mortgages. This is according to a press release from the mortgage barometer for the fourth quarter of 2023 compiledby the comparison portal Comparis. According to the report, the realisation that interest rates have peaked for the time being seems to be gaining ground.

    The Swiss National Bank(SNB) also contributed to this with its decision to leave the key interest rate unchanged at 1.75 per cent for the second time in a row. The inflation rate has been well below the 2 per cent upper limit targeted by the SNB for months. There is already speculation on the market about an initial cut in the key interest rate.

    “The hope that key interest rates will not rise any further or will fall is expressed in significantly falling capital market interest rates and swap rates, which make refinancing for banks significantly cheaper,” Comparis financial expert Dirk Renkert is quoted as saying. “This means that fixed-rate mortgages are now significantly more attractive than Saron mortgages for the first time.”

    According to the information, the proportion of Saron mortgages taken out with Comparis mortgage partner HypoPlushas fallen significantly over the past three months. Whereas in the first nine months of the year around one in four mortgage customers opted for a Saron mortgage, in the last three months this figure has fallen to around one in six.

    In contrast, the proportion of four- and five-year fixed-rate mortgages has increased significantly. Around one in five people opted for fixed-rate mortgages with medium terms in the first nine months of the year. In the past three months, this proportion has increased to around a third of all contracts. The proportion of ten-year and longer-term fixed-rate mortgages remained virtually unchanged at around 40 per cent.

  • Andermatt Swiss Alps receives loan of 125 million Swiss francs

    Andermatt Swiss Alps receives loan of 125 million Swiss francs

    According to a press release, Andermatt Swiss Alps AG has concluded a syndicated loan of CHF 125 million with a consortium of Swiss banks led by UBS subsidiary Credit Suisse (Switzerland) Ltd. The term is four years. The lenders can extend the credit facilities twice by one year.

    According to the information provided, the loan will be used to refinance existing debt financing and to finance operations. It is also intended to enable further investment in the development of Andermatt as a destination.

    “The first-time financing through a syndicated loan is a vote of confidence in the successful development and market positioning as well as the promising prospects of our company,” CEO Raphael Krucker is quoted as saying. The transaction was led by CFO Melina Marty and accompanied by Advestra as legal advisor.

  • Avobis Invest launches first real estate fund

    Avobis Invest launches first real estate fund

    With Avobis Real Estate Funds SICAV, Avobis Invest AG is beginning the exploratory phase for the launch of its first own real estate fund. Within this framework, the Avobis Swiss Residential Fund sub-fund invests in fully let, as-new residential properties in Switzerland that offer a guarantee of stable and sustainable distributions. The Swiss Financial Market Supervisory Authority(FINMA)-regulated part of Avobis Group AG, a real estate and mortgage services provider, made the announcement in a media release.

    “The aim of the investment strategy is to achieve a stable and sustainable distribution for the investor with maximum value stability,” Ramon Scussel, Head of Investment Products, is quoted as saying. “Particular emphasis is placed on current and expected regulations regarding building efficiency and CO2 emissions. We are convinced that our fund is an ideal complement to the existing products on the market.”

    The Avobis Swiss Residential Fund sub-fund is aimed at qualified investors. An issue volume of around CHF 50 million is targeted. The subscription period runs from 30 October to 24 November 2023, with an option to extend and planned payment on 1 December 2023.

  • ZKB modernises network of locations

    ZKB modernises network of locations

    ZKB plans to invest a three-digit million amount in the modernisation of its network of locations over the next few years. “The physical presence on site and the proximity to our clientele is part of our DNA,” Steve Zurschmitten, Project Manager Sales and Market Area Manager Winterthur in Private Banking at ZKB, is quoted as saying in a statement from the bank. “That’s why we are also relying on the densest location network in the canton in the long term and are redesigning all of our 51 branches along a newly developed location concept.”

    At the centre of the new concept is personal advice for private individuals and companies on important events. For everyday business, the branches offer digital self-service support. At some locations, the establishment of a so-called event zone is planned for events on topics such as owning a home or starting a business. Seminars on how to use the Twint payment solution, eBanking or mobile banking are intended to make it easier to get started with the digital implementation of banking transactions. Starting next year, all branches are to be converted by 2030.

    The ZKB informs that the findings from the two pilot branches in Stettbach and Winterthur have been incorporated into the development of the location concept. Here, the cantonal bank evaluated which services will continue to be in demand in branches in the future and which will be shifted to the digital world. “By creating a new, contemporary offering with inviting meeting and advisory opportunities on site, we want to remain locally anchored and close to our customers and the population,” explains Zurschmitten.

  • PostFinance and GLKB join CredEx

    PostFinance and GLKB join CredEx

    Credit Exchange AG has gained two new shareholders, PostFinance and GLKB, according to a press release. The two banks will also sit on the company’s board of directors. Mobiliar and Swisscom from Berne, Vaudoise Insurance from Lausanne and Bank Avera from Wetzikon ZH are already represented on the board. Mobiliar and Vaudoise Versicherungen will also participate in the current capital increase.

    The new shareholders want to help expand the mortgage marketplace CredEx. To this end, PostFinance will also contribute its comparison and closing platform Valuu to CredEx. Specifically, Valuu is to be transferred to the joint venture CredEx, as PostFinance explains in a statement. CredEx will then bundle the brokerage business under the Valuu brand and continue to operate the brokerage business.

    GLKB is already a long-standing partner of CredEx. “Over the years, a unique settlement ecosystem has been developed together with GLKB, which has greatly contributed to CredEx’s success,” Andrea Canonica, CXO of Credit Exchange AG, was quoted as saying in the statement. “With GLKB’s rich experience in the fintech sector, I am convinced that we will also achieve similar milestones together on the financing side,” Canonica added.

  • Bank Thalwil inaugurates new headquarters

    Bank Thalwil inaugurates new headquarters

    Bank Thalwil welcomes its customers in Thalwil with immediate effect at its new headquarters at Gotthardstrasse 14, Bank Thalwil Genossenschaft informs in a statement. The premises include open offices and meeting rooms, a new ATM zone and a safe deposit facility that can be used around the clock. “Bank Thalwil is a great enrichment for our lakeside community and gives the new centre, which is being built around Centralplatz, a characteristic face,” Thalwil’s municipal council president Hansruedi Kölliker is quoted as saying in the statement.

    The bank is also introducing a new way of working at its new headquarters. Instead of individual offices, services will be provided in open offices without fixed workstations. Customer meetings will take place in the meeting rooms gardening, carpentry, weaving, plumbing and painting. Bank Thalwil explains that the name is intended to create a direct link to traditional crafts.

    At the opening celebrations from 11 to 13 May, the bank counted around 3500 visitors. They were offered guided tours of the premises, accompanied by readings from the book “Thalwiler Geldgeschichten” (Thalwil Money Stories), face painting for children and a snack. “During the bank tours, which were completely booked out or partly overbooked, we were inundated with compliments and congratulations,” explains bank boss Sandro Meichtry. “I am very much looking forward to the new premises and the new way of working.”

  • FinanceScout 24 and Abilect enter into partnership

    FinanceScout 24 and Abilect enter into partnership

    FinanceScout24 and Abilect are teaming up with the aim of expanding digital solutions for the refurbishment and financing of real estate, according to a media release. The partnership combines two key challenges in the construction industry: Financing options for property refurbishments and digital solutions that ensure seamless contracting, management and execution of these works by suitable and vetted companies in the region, it says.

    Abilect, a general construction company based in Vaud, expects to see an increase in attractive financing channels for its customers for renovation work around the property.

    FinanceScout24 wants to provide even more customers than before with simple and efficient solutions for their financing needs. The organisation, management and implementation of modernisation and renovation projects depend “decisively on financing”, Jochen Pernegger, Managing Director of the financial services provider, is quoted as saying.

    Future financing solutions are to be geared to customer needs. The partnership is also expected to result in the possibility of creating a project dossier. In addition, customers will receive support in the search for qualified providers and in the implementation of the modernisation and renovation project.

  • Core statements of the research paper “Sustainability in the mortgage business

    Core statements of the research paper “Sustainability in the mortgage business

    The importance of mortgages to achieve the 2050 climate targets

    1. The building sector is a major contributor to energy consumption and CO2 emissions, so sustainable retrofits and energy-efficient design are necessary to achieve the 2050 climate targets.
    1. Mortgages are crucial for energy retrofits and efficiency improvements of buildings. By aligning mortgage terms with sustainability goals, banks and lenders can incentivise owners to green their properties and thus contribute to achieving climate goals.
    1. Within the framework of self-regulation, banks undertake to create better incentives for more sustainability in the areas of loan-to-value, affordability, amortisation and interest rates, especially for private owners. A large proportion of mortgages are granted to private owners.

    The role of private owners

    1. Private owners are fundamentally worse off in terms of sustainability compared to institutional owners, although for a long time the problem was at the level of “will”. Increased energy prices and interest costs, as well as increased regulation and public interest, have likely increased willingness.
    1. Cognitive barriers need to be broken down through comprehensive advice in order to increase the renovation rate among private owners. Many owners do not realise that sustainability can be financially rewarding as it can lead to higher occupancy rates, rental income, lower operating costs, higher liquidity and lower risk premiums, which in turn increases the value of the property.
    1. Financial barriers need to be removed to increase the rate of renovation among private owners. Attractive mortgage conditions can ultimately persuade them to act after readiness and education.

    Offering green mortgages

    1. Mortgage financing that financially rewards and encourages sustainable behaviour already exists and is integrated into the product offerings of many lenders. There is currently no standard taxonomy and various certificates are used to classify sustainability.
    1. Green mortgages include advantageous terms but can be criticised for inefficiencies and potential greenwashing. In addition, positions and environmental impacts are rarely communicated externally.
    1. Lenders that are actually engaged can finance their lending of green mortgages by issuing green bonds and thus be more efficient and transparent. In doing so, they also increase their competitiveness and enhance their credibility.

    What should be expected as a private owner?

    1. Owners should be aware that green practices can increase property values in different ways, while less sustainable buildings risk becoming stranded assets due to future regulatory measures and market changes.
    1. In the future, an improved database and more accurate tools may allow for a more precise recording of CO2 emissions and grey energy of real estate, which would lead to more efficient and symmetrical pricing in lending. This would allow green properties to be financed at more favourable conditions, while non-green properties might receive less favourable conditions.

    More detailed info at www.avobis.ch/wp-content/uploads/esg-im-hypothekargeschaeft_final.pdf

  • Evorest receives seven-figure early financing

    Evorest receives seven-figure early financing

    The Zurich-based start-up Evorest has acquired a seven-figure sum in a so-called pre-seed financing, according to a media release. The company has set itself the goal of renewing the rental deposit market. For the first time, tenants will be able to digitally invest their rental deposits in low-cost funds.

    This is intended to simplify the entire rental deposit management process for tenants and property managers. In the future, tenants will thus be able to sign their rental deposit contract digitally and invest their tied-up capital in exchange-traded index funds such as ETFs. They will benefit directly from the return achieved in the process.

    In the future, it will also be possible to conclude a conventional deposit account completely digitally via Evorest. Thanks to digitalisation, deposit accounts can be opened within 24 hours. Property managers will receive a higher damage cover sum as security, in line with the market. Evorest works with an unnamed Swiss partner bank that manages the capital and guarantees the security of the deposit.

    The financing now obtained is expected to be effective by the fourth quarter of 2023. With the acquired capital, the company, which was founded in March 2023, wants to implement its programme developments and activate the programme interface to its partner bank.

  • Tilbago offers the cheapest debt collection statement

    Tilbago offers the cheapest debt collection statement

    Tilbago AG is lowering the price for digitally signed debt collection statements to 22.90 Swiss francs. This means that this “fully digital bridge” between private individuals and debt collection offices is the most cost-effective at the Lucerne-based company, according to a media release.

    A digital debt collection statement replaces the previously common paper form for a credit report, as it is required, for example, before concluding rental, credit or leasing contracts. It can be ordered online, is usually delivered by e-mail within a few hours and can be used as often as desired. The digital statement proves ex officio and forgery-proof that a person does not have any outstanding debts that are or have been enforced by means of debt collection.

    The online debt collection solution tilbago is a PostFinance innovation. Tilbago guides companies fully automatically through the debt collection process. This is intended to automate and optimise workflows and make it easier to comply with legal requirements and deadlines. The solution is hosted by PostFinance. According to the company, this means that the data remains in Switzerland and is protected in the PostFinance data centre.

  • Alvoso Forum meets in the new ZSC Lions arena

    Alvoso Forum meets in the new ZSC Lions arena

    The Alvoso pension fund based in Schlieren is holding its annual Forum event on Wednesday, September 28, from 4 p.m. in the newly built ZSC Lions ice hockey arena. At the forum events every year, not only the affiliated beneficiaries, but also the general public are informed about the latest status at Alvoso and the entire Swiss pension fund market. According to the press release, the Alvoso Forum is taking place in a very special setting this year. Alvoso is the first company ever to be able to be a guest in the brand new stadium, which will be the most modern sports and event arena in Switzerland after the official opening.

    "Being the first company ever to be able to hold an event in these modern premises is very special – we will set worthy accents with exciting topics and eloquent guest speakers," says Remo Schällibaum, President of the Board of Trustees of the Alvoso Pension Fund. Thomas Schmidiger, Managing Director of Alvoso, sees "three days after the AHV vote, the topic of pensions more relevant than ever".

    The program features several guest speakers. Mario Fehr, head of the security department and government councilor of the canton of Zurich, will open the event with a greeting. Patrick Fischer, the national ice hockey coach, will give a behind-the-scenes look at the national team with his presentation on “Inside the team”. And Sven Leuenberger, sports director of the ZSC Lions and host in the new stadium, will comment on the upcoming season and the new stadium, according to the program announcement.

  • GLKB launches new version of the Hypomat

    GLKB launches new version of the Hypomat

    The Glarner Kantonalbank ( GLKB ) has added additional functions to its online mortgage Hypomat and made the user interface more intuitive, as a press release reveals.

    When it was launched in 2012, GLKB's Hypomat was the first digital option for taking out mortgages in Switzerland. According to the announcement, transactions with the online platform have become well established and, for the benefit of customers, were technically and visually renewed to mark the tenth anniversary. Thanks to intuitive user guidance, a mortgage can be taken out online in just a few steps, even more conveniently.

    The home page shows the various financing options for a home and provides support with illustrations from practical life situations. The new design should look fresh and modern. As a regionally anchored universal bank, GLKB is reacting to the increasing requirements for a real online mortgage with the relaunch in order to be able to meet customer requirements even better.

  • MoneyPark forecasts falling mortgage interest rates

    MoneyPark forecasts falling mortgage interest rates

    The war in Ukraine will bring the economic recovery to a standstill, predicts MoneyPark in the latest economic and interest rate update from the fintech from Pfäffikon, which specializes in mortgages and real estate. According to him, capital market rates have already fallen significantly as a result of the outbreak of war. This development has also reached mortgage interest rates with a slight delay, writes MoneyPark.

    Specifically, between Feb. 24 and March 8, the company observed a 6 to 8 basis point cut in fixed-rate mortgage rates. By contrast, mortgages based on the SARON reference interest rate (Swiss Average Rate Overnight) remained unchanged. MoneyPark expects further slight reductions in mortgage interest rates over the next few weeks.

    “It is currently particularly important to follow the development of the capital and mortgage markets promptly,” says the update. In particular, MoneyPark anticipates that mortgage providers will launch temporary special offers “due to the intense competitive environment”.

  • TX Group sells shares in MoneyPark

    TX Group sells shares in MoneyPark

    The venture arm of the TX Group , which focuses on fintech, has sold its minority stake in MoneyPark to the St.Gallen Helvetia Group . The insurance company had already acquired its first shares in 2016.

    “MoneyPark has developed excellently under the leadership of CEO and founder Stefan Heitmann,” Jens Schleuniger, Investment Director at TX Ventures, is quoted as saying in a press release . With well over CHF 3 billion in mortgage volume brokered annually, MoneyPark has “advanced to become the clear market leader in this area”. In recent years, MoneyPark has successfully expanded its offering to include real estate transactions and pension benefits.

    Daniel Mönch, Chief Strategy Officer of the TX Group, also thinks the timing of the sale is good: “The company has grown from a start-up to a leading fintech and is taking a further development step with the change in management announced today”.

    As MoneyPark announced in its own media release , Martin Tschopp will replace the current CEO Stefan Heitmann on May 1st. The outgoing CEO and founder describes it as “emotionally not easy” to give up the management after ten years. But with Tschopp, a “technically adept and outstanding human successor” takes over his position. “I am very pleased to be able to lead MoneyPark into the next development phase with the existing management team,” says Tschopp. Now it is important to further expand the number 1 position.

  • Swiss Central City Real Estate Fund approved by the Swiss Exchange Commission

    Swiss Central City Real Estate Fund approved by the Swiss Exchange Commission

    The SIX Exchange Regulation has approved the Swiss Central City Real Estate fund for listing on the SIX Swiss Exchange . This means that the Zurich-based Nova Property Fund Management AG will be able to trade the real estate fund on the stock exchange from December 13th, according to a media release .

    The fund is currently traded over the counter through Bank J. Safra Sarasin AG . In addition, the investment should also be included in the SXI Real Estate Broad and SXI Real Estate Funds Broad indices.

    The real estate portfolio currently has a market value of CHF 400 million. The fund management company wants to expand this further by investing the fund’s assets in real estate in central locations across Switzerland.

    For this year she is planning a distribution of CHF 2.50 per fund unit. In the coming years it should be increased further through the constant expansion of the property portfolio and the completion of further projects.

  • Baloise presents its ecosystem for innovations

    Baloise presents its ecosystem for innovations

    The Baloise Group has been modernizing and expanding its core business as part of its Simply Safe strategy since 2017. According to a statement from the insurer, working methods have been modernized internally, scope for design expanded and hierarchies dismantled, thereby increasing employee satisfaction overall.

    At the same time, an ecosystem of innovations was built up. To this end, 7,500 ideas and start-ups were tested in the Baloise Open Innovation Funnel. The Basler Insurance Group has invested a total of 50 million francs annually in the most promising initiatives. Around 30 investments are in the scaling phase. As the largest investment, FRIDAY is already one of the most popular digital insurers in Germany and was able to expand to France in 2021. FRIDAY sales are likely to rise to over 50 million francs this year, with a target of 150 million francs in 2025.

    In the home sector, Baloise has invested in eight initiatives, five in Switzerland and three in Belgium. The total turnover is over 10 million francs, the aim for 2025 is 100 million francs. In the area of mobility, the nine initiatives should generate a total of up to CHF 10 million in sales in 2021. In 2025, sales are also expected to rise to 100 million.

    Gert De Winter is now initiating the second phase of Simply Safe. “Our ambition is to have our investment measures valued at CHF 1 billion by 2025 and to secure a business volume contribution of CHF 350 million through the new initiatives,” the CEO of Baloise is quoted as saying in the press release.

    At the same time, progress in the area of innovation should be made more visible. The innovations are presented narrative on the newly launched “ Baloise Innovation – Connecting the Dots ” website.

  • Property owners expect stable prices

    Property owners expect stable prices

    Private sole and co-owners of investment properties in Switzerland expect stable price development in the next year, writes Crowdhouse in a communication on its new real estate barometer. According to the Zurich fintech, this is “the only data collection in Switzerland that focuses on the expectations of private owners of Swiss investment properties”. For the current edition of the barometer, Crowdhouse interviewed around 180 people.

    Only a minority of 6 percent expect real estate prices to fall in the next year, the press release explains. Most of those surveyed consider the market for investment property to be safe and not very risky. However, it is also considered overrated, explains Crowdhouse. An excessively high rating and vacancies were named by those surveyed as the two greatest current risks.

    In addition, the respondents have spoken out in favor of greater digitization of the market, writes the fintech company. Crowdhouse provides detailed information on the property barometer on the Internet .

  • AKB is launching another sustainable bond

    AKB is launching another sustainable bond

    The Aargauische Kantonalbank has issued a green bond for the second time. According to a press release , it has a volume of CHF 100 million. AKB’s first green bond was issued in June 2020. Since then, according to a statement from the Kantonalbank, the AKB Green mortgage amounting to 110.4 million francs has been used to build or renovate homes according to climate-friendly criteria. 119.2 million francs have been pledged for further projects.

    The Aargauische Kantonalbank takes stock of the CO2 savings achieved every year through the sustainable construction activities it finances. In cooperation with the real estate consultancy IAZI , it publishes so-called impact reporting every year. According to the press release, the projections have shown that after just six months in 2020, the total annual savings in CO2 emissions will be around 232 tonnes. The 232 tonnes of CO2 savings in the projections of the IAZI test report correspond to the annual emissions of around 190 new, commercially available passenger cars, according to the report. The next impact reporting will be created on December 31, 2021.

    Green mortgages are financed from the green bond for ecological construction or renovation. In addition to new buildings, according to the AKB, individual energy measures or comprehensive overall renovations to increase energy efficiency or the use of renewable energies are also supported. The bank cites the installation of photovoltaic systems or panels for the preparation of hot water as examples.

  • Baloise real estate fund goes to SIX

    Baloise real estate fund goes to SIX

    The Baloise Swiss Property Fund is expected to be traded on the Swiss stock exchange from November 1, 2021. According to a press release from Baloise Asset Management AG , the relevant listing application has been approved by the SIX Swiss Exchange . The fund is therefore also open to non-qualified investors from this date. The portfolio currently comprises 72 properties with an estimated market value of around CHF 811 million.

    According to the issuer, the investment objective of this real estate fund, launched in 2018, is “primarily to generate stable current income through direct investments in Swiss core / core plus properties that are in good locations and have a high level of income and value stability”. At least 50 percent residential properties and a maximum of 50 percent commercial properties would be aimed for. A further expansion with a focus on residential buildings is planned.

  • MoneyPark wins Hypi Lenzburg

    MoneyPark wins Hypi Lenzburg

    MoneyPark has "brought another strong product partner on board," writes the fintech, which specializes in mortgages and real estate, in a press release . Specifically, MoneyPark is working together with Hypothekarbank Lenzburg . As part of a sales partnership, MoneyPark will sell the Hypi Lenzburg mortgages throughout German-speaking Switzerland.

    This means that the Hypothekarbank is significantly expanding its own sales network, according to the announcement. However, according to her, Hypi Lenzburg will continue to serve the core markets of Aargau and Solothurn itself “via its 13 branches and two advisory offices”.

    Both partner companies rely on a combination of personal advice and technology in their business model, is further explained in the communication. MoneyPark has over 20 branches throughout Switzerland and 15 branches in German-speaking Switzerland. According to its own information, the company works with more than 150 banks, insurance companies and pension funds.

  • Valuu extends to personal loans

    Valuu extends to personal loans

    Valuu is now also offering digital comparison options for personal loans, informs the owner of the comparison platform, PostFinance , in a message . The corresponding process was developed together with customers and lenders, it says there. Testing and lending are initially the responsibility of Migros Bank, BANK-now, Cembra Money Bank, eny Finance and good finance.

    "As a pioneer in the Swiss market, Valuu offers its customers an independent direct comparison for personal loans", Thomas Jakob, Chief Business Unit Officer Platform Business at PostFinance, is quoted in the press release. "As is already known from the mortgage business, customers can transparently compare individual offers and then apply for them directly online – thus saving time and money."

    PostFinance will continue to optimize Valuu in the future and incorporate new lenders for mortgages and personal loans, according to the announcement. In the long term, the company is pursuing the goal of developing Valuu "into the leading Swiss comparison and conclusion platform in the areas of finance, insurance and provision".

  • The trend is towards longer-term mortgages

    The trend is towards longer-term mortgages

    The Swiss are increasingly tending towards longer-term mortgages. Ten years ago the five-year fixed-rate mortgage was the first choice, but now more and more people are opting for ten-year loan agreements to build or buy a property. This is the conclusion of the comparison and mediation service MoneyPark, according to a press release .

    A total of 55 percent of the brokered mortgage volume was concluded for ten years in 2020. A further 24 percent of the brokered contracts have been fixed for an even longer term, reports the company based in Freienbach. The proportion of these long-term mortgage products has doubled since 2016. The interest rate averaged a “record low” 0.92 percent.

    The reason for the trend towards longer terms are better options for comparing the products for external financing of a property. The market is also becoming more transparent and more competitive because professional intermediaries such as MoneyPark, in addition to banks, are giving new providers such as insurance companies and pension funds access. "In the past, banks preferred to sell shorter terms, also because, in relative terms, the 'risk-return ratio' is better than with longer terms", Stefan Heitmann, CEO and founder of MoneyPark, is quoted in the press release.

    Furthermore, the current low interest rate environment favors the choice of a long-term fixed-rate mortgage, as the interest rate differences between the terms are small.

  • Damage to houses is CHF 650 million

    Damage to houses is CHF 650 million

    Damage to buildings amounting to CHF 650 million has arisen due to the strong thunderstorms and rainfall in recent weeks. The Association of Cantonal Building Insurance Companies draws this first balance as of July 27, according to a media release . The association points out that in 19 of the 26 cantons the cantonal building insurance covers the repair costs.

    It also informs that homeowners in those cantons in which cantonal building insurance (KGV) is mandatory are automatically insured against natural hazards such as flooding. "The KGV insurance coverage is fully guaranteed even in the event of major events such as those of the last few weeks."

    The association also provides building owners with online maps on which they can see how endangered their location is, for example from hail, floods and surface runoff. Accordingly, they could take these natural hazards into account when renovating and building new ones.

    Local heavy rain had led to flooding in early July. Parts of southwest Germany and Belgium were particularly hard hit, with numerous fatalities and destroyed houses and streets. In Switzerland there was only property damage. However, the building insurance of the Canton of Zurich asks its customers to be patient on its website, due to an "extraordinarily large number of incoming damage reports".

  • ImmoScout24 relies on iptiQ

    ImmoScout24 relies on iptiQ

    ImmoScout24 wants to offer customers residing in Germany a rental loss insurance. To this end, the real estate platform of the Scout24 Group is working together with the white label insurer iptiQ from Swiss Re , the Zurich insurance group informs in a message . The offer launched under the ImmoScout24 brand covers the complete or partial loss of up to six monthly rents including ancillary costs. The insurance can be taken out and managed online.

    "With the digital ImmoScout24 loss of rent insurance, we are providing private landlords with an innovative service that makes renting safer for them," Ralf Weitz, Managing Director of ImmoScout24, is quoted in the press release. This could be particularly relevant in times of the pandemic, says Weitz. ImmoSout24 takes on the role of the registered agent in the partnership.

    IptiQ is responsible for covering all insurance-related aspects of the community offer, is further explained in the communication. "With ImmoScout24 we have the ideal partner in Germany to be able to offer customers tailor-made insurance products in the household sector online exactly when it matters", Andreas Schertzinger, CEO iptiQ EMEA P&C, is quoted there.

    The Scout24 group belongs to the insurance group Mobiliar and the media group Ringier . In addition to the real estate platform ImmoScout24, the network of online marketplaces operates the platforms AutoScout24, FinanceScout24, MotoScout24, the classified ads platform Anibis and the marketer Scout24 Advertising.

  • UBS joins forces with Invesco

    UBS joins forces with Invesco

    UBS and the American Invesco Real Estate have agreed on a cooperation. Together, they offer UBS clients access to Invesco's global real estate mandates. This will make it more efficient for UBS Global Wealth Management's private customers to include this asset class in their portfolios, according to a media release from the major Zurich bank.

    The new offer will primarily invest in Invesco's direct real estate strategies, but also in listed real estate stocks, co-investments and direct real estate. With assets under management of 63.3 billion dollars in direct real estate investments and 19.9 billion dollars in listed real estate values, as well as more than 580 real estate professionals worldwide, Invesco is "the only manager with comparable strategies in the USA, Europe and Asia", so UBS.

    "This offer was specially structured for UBS and its clients in order to offer them stable and attractive regular income over the long term," said Marty Flanagan, President and CEO of Invesco, quoted in the press release. According to Bruno Marxer, Head of Global Investment Management at UBS, this partnership underscores the bank's commitment to providing its clients with exclusive access to solutions from leading partners.

  • Rental deposit insurance is expensive

    Rental deposit insurance is expensive

    Rent deposit insurance is only advisable in the event of short-term financial bottlenecks. The online comparison service Comparis points this out. In contrast to a rent deposit payment, the premium payments are lost in any case. With a ten-year contract, they can amount to more than half of the deposit amount. In a press release , Comparis calculates this on the basis of a ten-year contract and a deposit of 6,000 francs.

    A good 20 percent of the Swiss population will have to make the right decision in the next twelve months. This is shown by a representative survey by Comparis on moving behavior in Switzerland .

    Rent deposit insurances give new residents the required amount of mostly three months' rent. In return, they ask for an annual premium. The cheapest and the most expensive would be 40 percent apart. "Rent deposit insurance should only be considered to bridge short-term financial bottlenecks," is the recommendation of Comparis expert Frédéric Papp.

    The definitely cheaper solution is to transfer the entire rental deposit to a rental deposit account. “You should pay attention to the choice of bank.” There are still banks that pay interest on deposits and others that charge opening fees of up to 150 francs or netting fees of up to 100 francs. Basically, the banking relationship can be negotiated.

  • Procimmo realizes capital increase

    Procimmo realizes capital increase

    Procimmo SA has raised around 64 million francs on the capital market for its real estate fund Procimmo Swiss Commercial Fund II, the asset manager of collective real estate investments informs in a message . According to her, the capital increase was significantly oversubscribed. The company sees this as "a clear vote of confidence on the part of investors in the fund," says the press release.

    On the one hand, the 64 million francs brought in are intended to reduce the fund's debt financing ratio. On the other hand, Procimmo wants to use the new capital for the continuation of existing construction projects, is explained in the communication. The company is also planning further property acquisitions.

    The Procimmo Swiss Commercial Fund II is scheduled to be listed on the SIX Swiss Exchange on March 24th. A total of 33 properties are currently held in the fund in the cantons of Aargau, Basel-Landschaft, Bern, Freiburg, Graubünden, Lucerne, Solothurn and Zurich. The report puts the fund's assets at around 557 million francs.

  • AXA Switzerland launches real estate funds for pension funds

    AXA Switzerland launches real estate funds for pension funds

    According to a message from AXA Switzerland , the company has launched a new, actively managed real estate fund. The AXA pension fund real estate Switzerland contains a high proportion of residential properties in central locations in Swiss metropolitan areas, explains AXA Switzerland in the press release. The fund should only be open to "certain qualified tax-exempt investors in Switzerland".

    "The capital market interest rates in Switzerland are currently at historic lows, and a significant change in the interest rate environment is not in sight", Daniel Gussmann, Chief Investment Officer of AXA Switzerland, is quoted in the press release. "Real estate investments are therefore becoming increasingly important in the investment of pension funds, not least thanks to positive cash inflows from rental income." The new fund from AXA Switzerland currently has a volume of CHF 1.7 billion.

  • Pension funds are putting banks under pressure

    Pension funds are putting banks under pressure

    In the past year, mortgage holders reached new records for possible savings, writes MoneyPark in a press release . With this statement, the Zurich-based fintech relies on the analysis of fixed-rate mortgages concluded via its own platform. According to her, when taking out a ten-year mortgage, mortgage borrowers were able to save an average of 22 percent, or 26 basis points, compared to the benchmark rate of 1.17 percent. With a borrowing of 750,000 francs, this would save a total of 19,500 francs over the entire term, explains MoneyPark.

    According to the fintech company, the high savings are related to the competition that alternative capital providers are making for traditional banks. Pension funds in particular are increasingly entering the mortgage business, writes MoneyPark. They offered an average of 46 basis points discount on ten-year mortgages last year. Insurance companies and banks were well behind with an average discount of 29 and 20 basis points, respectively, from the target rate.

    Towards the end of the year, the competition has eased somewhat, is further explained in the announcement. "On the one hand, this can be explained by the fact that the providers no longer fought for every deal at the end of the year and, on the other hand, capital market rates rose, making alternative investments significantly better returns than they were at the beginning of 2020," said Stefan Heitmann, founder and CEO of MoneyPark, quoted there. "But we see clear signs that the competition among the providers will intensify again."