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Financial flexibility for property owners with the UBS Mortgage Overdraft Facility
With its UBS Mortgage Overdraft Facility, UBS gives its mortgage clients a new option for financing renovations flexibly and without all the red tape.
UBS will begin offering its new UBS Mortgage Overdraft Facility today. The UBS Mortgage Overdraft Facility is a line of credit covered by a mortgage. This line of credit will only be offered to clients who already have a mortgage with UBS. Depending on the market value of the property, UBS will extend a line of credit of between CHF 25,000 and CHF 200,000. This will give property owners the flexibility to use some of the equity they have invested. The same conditions regarding loan-to-value ratio and economic viability apply for the UBS Mortgage Overdraft Facility as for mortgages. For example, the total of the mortgage and the UBS Mortgage Overdraft Facility
may be up to 80% of the market value of the property as estimated by UBS.
As soon as the UBS Mortgage Overdraft Facility is set up, clients decide how much to use without having to consult with their UBS advisor. This financial flexibility allows clients to use their equity for renovations, expansions or unplanned expenses. Interest is only charged on the amount of credit used. The interest rate for UBS Mortgage Overdraft Facility, which is variable, is currently 3.5%, plus a quarterly 0.25% credit commission. The credit can be repaid at any time or replaced with a UBS mortgage.
UBS is the Swiss mortgage market leader, with CHF 114 billion in private mortgages. One in four home owners has a UBS mortgage.
For further information about the UBS Mortgage Overdraft Facility, please click on:
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