UBS launches mortgage platform
UBS launches Key4, an online mortgage platform for owner-occupied homes.
In addition to UBS, the new platform will also be used by Swiss third-party investors to offer financing for owner-occupied residential property for private clients. UBS Atrium, a similar lending platform for investment properties, has been in existence for three years.
According to Axel P. Lehmann, President of UBS Switzerland, the big bank is aiming to become "the market leader in platform business and mortgage brokerage" with UBS Atrium and Key 4. In the medium term, a mortgage volume of CHF 5 to 10 billion is to be achieved.
Initially, existing mortgages can be extended via Key 4. From the fall of 2020, it will also be possible to conclude new mortgages. To finance owner-occupied residential property, Swiss private customers can choose from a range of offers from third-party investors on the platform, such as pension funds, investment foundations and banks, including UBS. The platform is to be continuously expanded with further services and offers relating to housing and financing. (ah)
