Only certified companies
At less than 40 percent, Switzerland has by far the lowest home ownership rate in all of Europe. Thanks to historically low mortgage interest rates, more people could afford their dream house or flat. But many fail due to a lack of equity. Banks lend up to 80 per cent of the value of owner-occupied housing, so buyers need at least 20 per cent equity. Those who do not have enough financial reserves could increase their equity in this way:
Especially young people and young families without the prospect of an inheritance or donation are stuck at this 20 percent equity hurdle. For them, home ownership remains a dream until they have saved or made provisions for enough money. For people with too little equity, there is an alternative that is still little known in Switzerland: rent-to-buy.
Rent-to-buy is a lease with an option to buy. You rent a house or flat now and acquire an option to buy later, usually in 5 to 10 years. For this, you usually need 10 percent equity, pay a monthly rent and save money during the contract period to take over the property at the end of the contract and finance it with a mortgage. The purchase price for the purchase option is credited at 100 per cent when you take over the property.
Because you do not buy the house or flat until later, you may not finance Rent-to-buy with money from the 2nd pillar (pension fund) or 3rd pillar (voluntary pension scheme).
The costs vary from provider to provider. As a rule, you must expect these housing costs during the rental period:
If you take over the house or flat after the end of the contract, you will have to pay all the land registry fees and the transfer of ownership costs.
Fast alle Mietkauf-Anbieter stellen die gleichen oder ähnliche Mindestanforderungen:
In order to assess creditworthiness, many providers require an extract from the criminal record, a statement of debt collection proceedings, a current salary statement and the last tax invoice.
For clarification, rent-to-buy providers need the same documents as banks for financing. Therefore, have your sales documentation ready when you contact a provider.
Rent-to-buy is suitable for all those who earn well and can easily pay the housing costs (interest, amortisation as well as additional costs), but (still) have too little equity. This means above all for young people or young families. Thanks to rent-to-buy, they can soon move into their dream house or flat even without much equity instead of saving for years and then not finding a suitable property. Rent-to-buy thus closes the time and financial gap until traditional home financing with a mortgage.
The rent-to-buy contract regulates all important points for the later purchase:
If the tenants wish to exercise their purchase option, a normal purchase contract will be drawn up on the basis of these conditions, which must be notarised.
Rent-to-buy contracts are rather rare. That is why you should seek legal advice before signing so that nothing is forgotten and you understand all the clauses.
The rent-to-buy provider is the owner until the tenant exercises his right to buy and takes over the property. That is why the provider is registered as the owner in the land register.