SARON or fixed-rate mortgage?
The right choice
Choosing between and is one of the most important decisions when financing a property.
Both differ fundamentally—and have clear advantages and disadvantages.
The right choice depends mainly on your risk tolerance, your financial situation, current interest rates, and your assessment of future interest rate trends.
A fixed-rate mortgage is a mortgage with a fixed interest rate over an agreed term. This means that mortgage interest rates remain unchanged throughout the entire term, providing planning security regarding financing costs. Fixed-rate mortgages are among the most popular types of mortgages in Switzerland. Learn more here: Fixed-rate mortgages in Switzerland
SARON Hypothek
Eine SARON-Hypothek ist eine geldmarktbasierte Hypothek mit variablem Zinssatz. Sie eignet sich vor allem für Kreditnehmer, die Zinsschwankungen tragen können und von transparenten, kurzfristigen Marktzinsen profitieren möchten. Mehr dazu auch hier: Festhypothek oder Saron-Hypothek?Saron-Hypothek abschliessen und später in Festhypothek wechseln?
Ein Hypothekarmodell beschreibt die Art der Zinsgestaltung und Laufzeit einer Hypothek, etwa Festhypothek,SARON-Hypothek oder variable Hypothek. Transparente Modelle erleichtern den Vergleich und helfen, Zinsrisiko und Planungssicherheit bewusst zu steuern. Hier gibt's mehr Informationen zu Hypotheken mit langen Laufzeiten: Festhypothek mit 10 Jahren Laufzeiten
In a nutshell
SARON or Fixed-rate mortgage?
The SARON mortgage is flexible and usually more affordable, but is subject to fluctuating interest rates.
A fixed-rate mortgage offers a fixed interest rate and maximum planning security, but is less flexible as a result.
The key question
Security or flexibility?
The choice often comes down to one key question: If you want maximum security, a fixed-rate mortgage is the right choice—but if you want maximum flexibility and the chance for lower overall costs, the SARON mortgage is the better option.
Pros and cons
What you need to know
Advantages of a fixed-rate mortgage
Disadvantages of a fixed-rate mortgage
Benefits of the SARON Mortgage
Disadvantages of the SARON Mortgage
Common mistake
“I’ll start with SARON and switch later”
This strategy sounds logical—but it’s often problematic.
This is because interest rates often rise quickly, the optimal time to switch is hard to predict, and you are often bound by framework agreements—making it nearly impossible to switch providers and thus experience genuine interest rate competition.
The episode
Changing mortgage loan models often results in unfavorable terms.
Video on the topic
Could your mortgage interest rates double in a short period of time? In this video, Florian Schubiger uses historical data from the past 50 years to show you just how much SARON mortgages can actually fluctuate—and why many people underestimate this risk.
@Mortgage
Florian Schubiger
Founder of Mortgage.ch
SARON Alternative
Fixed-rate mortgage with an exit option
Less well-known but particularly interesting: There are providers that allow you to exit a 10-year fixed-rate mortgage for free or at a very low cost. Such are particularly common among and
This combination of security and flexibility is a major advantage. You’ll find exactly these kinds of offers on HYPOTHEKE.ch.
Eine Hypothek ohne Vorfälligkeitsentschädigung kann vor Ablauf der Laufzeit – auch bei Festhypotheken - gekündigt oder zurückbezahlt werden, ohne dass zusätzliche Kosten anfallen (oder nur sehr tiefe). Solche Hypotheken bieten mehr Flexibilität. Sie werden oft von Pensionskassen oder Anlagestiftungen angeboten und müssen nicht zwingend teurer sein als Hypotheken ohne Kündigungsmöglichkeit. Bei HYPOTHEKE.ch sind meist zwei bis fünf Anbieter online, die einen vorzeitigen Ausstieg zulassen. Meist ist die kostenlose Auflösung der Hypothek an Bedingungen geknüpft, zum Beispiel den Verkauf der Immobilie.
A mortgage from an investment foundation is a real estate financing product provided by an investment foundation. Investment foundations invest pension fund assets in mortgages, among other things, and often offer attractive mortgage rates as well as long-term financing solutions. Because they typically do not have their own sales teams, mortgages from investment foundations can often only be arranged through mortgage platforms. HYPOTHEKE.ch collaborates with several investment foundations and even applies for sales exclusively for some of them.
Break free from the ties
Fixed-rate mortgage with no repayment penalty—the best of both worlds.
In the Mix
Combination of the two models
Some homeowners opt for a combination. This strategy can make sense, but it also has many drawbacks.
The problem: Flexibility is limited, switching providers is often not possible, and when it comes to Extension, the is correspondingly weaker. In addition, a margin increase is possible for the SARON Mortgage during the Term.
A clear strategy is better, or—if possible—spreading the debt across multiple properties. Having a staggered Mortgage comes with many disadvantages.
Mehr dazu hier: Hypotheken staffeln oder nicht?
Wer in der Schweiz gute Zinsen will, sollte bei den Hypothekarzinsen verhandeln. Wer Angebote mehrerer Anbieter vergleicht und sein Rating bei der Hypothek richtig optimiert, hat bessere Chancen auf einen tieferen Zinssatz und spart über die Laufzeit häufig viel Geld. Bei Hypotheken-Plattformen wie HYPOTHEKE.ch sind Zinsen bereits optimal verhandelt, weshalb sie meist besser sind als im Filial-Kanal von Banken. Mehr auch hier: Hypothek richtig verhandeln
Hurdle race
Stepped-rate mortgages can easily turn into a risky obstacle course.
Amortization
Note the differences
With a fixed-rate mortgage, is usually only possible by contractual agreement.Amortization is often more flexible with a SARON Mortgage—depending on the contract, but no later than the end of the
For both Mortgage loan models, you can choose to or .
Mehr dazu hier: Direkt oder indirekt amortisieren
Amortisation der Hypothek
Amortisation bedeutet die Rückzahlung der Hypothekarschuld. Sie kann direkt an den Kreditgeber oder indirekt über verpfändete Vermögenswerte wie z.B. die Säule 3a erfolgen und beeinflusst Zinskosten, Steuern und finanzielle Flexibilität. Hier gibt es mehr Informationen dazu: Direkte versus indirekte Amortisation,optimale Hypothekarhöhe,erste und zweite Hypothek erklärt,Hypothek amortisieren bei der Pensionierung
Bei der direkten Amortisation wird die Hypothekarschuld laufend durch regelmässige Rückzahlungen reduziert. Dadurch sinken die Hypothekarschuld und die Zinskosten Schritt für Schritt über die Jahre. Mehr dazu hier: Direkte Amortisation versus indirekte Amortisation
Bei der indirekten Amortisation wird die Hypothekarschuld nicht direkt zurückbezahlt, sondern das Geld in eine gebundene Vorsorgelösung wie z.B. die Säule 3a einbezahlt. Die Hypothek bleibt dadurch bestehen, während gleichzeitig Vorsorgekapital aufgebaut und häufig Steuern optimiert werden können. Mehr hier: Indirekte Amortisation der Hypothek
Direct-Indirect
Sometimes direct amortization is the simpler solution. But it’s not always the better one.
Choosing the right Mortgage loan model is crucial when taking out a mortgage. We help you make this important decision—completely impartially and independently.
Daniel Bosch
Mortgage expert
Conclusion
SARON or fixed-rate mortgage?
A fixed-rate mortgage is ideal for risk-averse individuals and is particularly suitable when interest rates are rising. The SARON mortgage is ideal for anyone who values flexibility and is often the more affordable solution in the long term.
The best solution is always the one that best suits your personal situation and needs.
Frequently Asked Questions
Answers to help with this difficult decision
A fixed-rate mortgage has a fixed interest rate over a specific Term.
A SARON mortgage has variable interest rates that are continuously adjusted based on the money market.
Mehr zu verschiedenen Hypotheken-Laufzeiten hier
Festhypotheken | Festhypothek 5 Jahre | Festhypothek 10 Jahre | Saron-Hypothek
A fixed-rate mortgage is particularly worthwhile when interest rates are rising, when planning security is important, or when risk tolerance is low.
A SARON mortgage is suitable for individuals with financial reserves and a willingness to take risks who expect interest rates to remain stable or decline.
A combination is possible, but often has disadvantages:
• Less flexibility
• More difficult to switch providers
• Limited negotiation options
Staggering mortgage payments can also have disadvantages. Read more here: Staggering mortgage payments
Mehr dazu hier: Staffelung von Hypotheken
Interest rates typically rise relatively quickly, causing financing costs to increase significantly in a short period of time. The SARON interest rate tracks the SNB’s key interest rate on a one-to-one basis.
The right choice depends on your risk tolerance, your financial situation, and your assessment of interest rate trends. Comparing different providers is crucial to finding the best solution.
Use HYPOTHEKE.ch for this.
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