Goldman Sachs: Entry into the Swiss mortgage market
Goldman Sachs will finance mortgages in Switzerland in the future. To this end, the investment bank is working with the mortgage broker Moneypark.
According to Moneypark, Elan Suisse Hypotheken AG will act as mortgage lender, and Goldman Sachs is the financial backer. In the medium to long term, refinancing via the capital market is planned, which will enable international investors to invest in the Swiss mortgage market.
The new mortgages would mark an important step towards a more flexible and customer-friendly mortgage market, Moneypark added. The target group is high-income customers who do not meet the criteria of the major banks for mortgage lending. When granting mortgages, Elan also wants to take into account income type and level, for example. Long-term fixed-rate mortgages with terms of ten to 15 years are reportedly offered to customers who have 20% equity and a good credit rating.
According to a report by the NZZ on Sunday Goldman Sachs is aiming for a mortgage volume of several hundred million CHF in this country. The mortgage contracts are to be securitized and sold in packages to international investors. (ah)
