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Newsletter July 2019
Newsletter July 2019
Date
30.7.2019
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Dear real estate friends
Money is becoming cheaper and cheaper, and there is now talk of negative interest rates on savings balances. Until now, it was unclear whether negative interest rates could also occur on mortgages. Now a federal court ruling has answered this question in the negative. The bank’s defense strategy was interesting: it would not borrow money on the capital market at all, but with savings deposits. Interestingly, when you negotiate with the bank about early repayment compensation, you are always referred to the capital market situation. The Federal Supreme Court answered the question in the negative, as there was no contractual clause in this case. Customers should therefore read the small print carefully when concluding a new contract and delete such a clause. More on this in NZZ article, which Federal Court decision (in French) well commented.
Best Real Estate regards
Yours, Claude Ginesta
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