Or: Why you should clarify at an early stage how the bank rates the affordability of the mortgage in old age.
Posted today at 5:30 am
—
–Reluctance to amortize: In old age, the bank can reclassify the affordability and demand partial amortization.
Illustration: Christina Baeriswyl
I have a question about my mortgage at St. Galler Kantonalbank. We now have a fixed-rate mortgage of 200‚000 francs with a term until February 2023 and 300‚000 francs with a term until February 2025. The advisor at the bank informed me that my wife’s third pillar was seized with around 50 on the mortgage‚000 francs is available. My wife is retiring this year and the money will be free. He mentioned that the money could be deducted from the mortgage. Can the bank just act like this even though the contract does not include any amortization? Readers question from WB
