What is a variable-rate mortgage in Switzerland ?
May 8, 2026What is a variable-rate mortgage in Switzerland ?
May 8, 2026
What is a mixed mortgage in Switzerland?
What is a mixed mortgage in Switzerland?
A mixed mortgage consists of dividing your property financing into several tranches, with different models or terms.
Instead of financing the entire property with a single mortgage, the homeowner can combine several solutions.
For example, part of the financing may be based on a fixed-rate mortgage, while another part may be based on a SARON mortgage or a variable-rate mortgage.
This strategy helps spread risk and adapt the financing to the owner’s profile, budget, and intended holding period for the property.
Also read on Immoprice: The different types of mortgages in Switzerland
How does a mixed mortgage work?
With a mixed mortgage, the total amount borrowed is divided into several parts.
For example, a homeowner may choose to finance one part with a fixed-rate mortgage and another part with a SARON mortgage.
Another option is to split the loan into several fixed-rate mortgages with different terms.
For example: one tranche over 5 years and another over 10 years.
The goal is to avoid depending on a single rate, a single term, or a single renewal date.
Useful source: Hausinfo – Mortgage splitting
Why choose a mixed mortgage?
A mixed mortgage can be an attractive option for homeowners who want to find a balance between security and flexibility.
A fixed-rate portion helps stabilize part of the monthly costs.
A SARON or variable-rate portion allows you to benefit from a potential decrease in interest rates or greater flexibility.
This approach can be useful if you are hesitating between several mortgage models.
Rather than choosing only a fixed rate or only a flexible solution, you can combine several options.
A simple example of a mixed mortgage
Let’s imagine a mortgage financing amount of CHF 600,000.
The homeowner could choose:
CHF 400,000 as a fixed-rate mortgage over 10 years.
CHF 200,000 as a SARON mortgage.
In this case, a large part of the financing remains stable thanks to the fixed rate, while another part follows market developments more closely.
If interest rates rise, only the SARON portion is directly exposed.
If interest rates fall, that same portion may become more advantageous.
What is the difference with a fixed-rate mortgage?
With a fixed-rate mortgage, the interest rate is set in advance for a defined term.
The costs are predictable, but the contract is less flexible.
With a mixed mortgage, part of the financing can remain secured with a fixed rate, while another part can be more flexible.
This allows you to avoid putting all your financing into a single solution.
Also read on Immoprice: What is a fixed-rate mortgage in Switzerland?
What is the difference with a SARON mortgage?
With a SARON mortgage, the interest rate changes according to the Swiss money market.
With a mixed mortgage, SARON may represent only part of the financing.
The rest can be secured with a fixed-rate mortgage.
This allows you to partially benefit from the flexibility of SARON while keeping a more stable base.
Also read on Immoprice: What is a SARON mortgage in Switzerland?
The advantages of a mixed mortgage
The main advantage of a mixed mortgage is the diversification of financing.
It allows risks to be spread across several models.
Part of the loan can be protected against rising interest rates, while another part can benefit from a potential decrease.
It also helps prevent the entire financing from reaching maturity at the same time.
By spreading out the terms, the homeowner limits the risk of having to renew the entire mortgage during a period of high interest rates.
The risks and limitations to be aware of
A mixed mortgage can be more complex to manage than a simple mortgage.
Each tranche may have its own term, interest rate, conditions, and fees.
It is therefore important to fully understand the contract as a whole.
Another important point concerns flexibility.
If several tranches have different maturity dates, it may be more difficult to switch banks or renegotiate the entire financing all at once.
Official source: FINMA – Swiss mortgage market
Advantages and disadvantages of a mixed mortgage in Switzerland
| Advantages | Disadvantages |
|---|---|
| Allows the financing to be spread across several mortgage models. | More complex to understand and manage than a single mortgage. |
| Combines security and flexibility according to the homeowner’s needs. | Each tranche may have its own conditions, terms, and fees. |
| Part of the financing can be secured with a fixed interest rate. | Different maturity dates can make it more complicated to switch banks. |
| Another part can benefit from a potential decrease in interest rates through a SARON or variable-rate solution. | In the event of an early sale, certain tranches may result in fees or penalties. |
| Prevents the entire financing from reaching maturity at the same time. | Budget tracking may be less clear if several rates evolve differently. |
| Allows the financing to be adapted to the homeowner’s profile, budget, and intended holding period. | Requires good planning, especially if a sale of the property is expected in the medium term. |
Who is a mixed mortgage suitable for?
A mixed mortgage may be suitable for homeowners who want to balance security and flexibility.
It may be appropriate if you are hesitating between a fixed rate and SARON.
It may also be suitable if you want to spread interest rate risk, secure part of your costs, and maintain a certain degree of flexibility.
However, if you are looking for a very simple solution to manage, a single fixed-rate mortgage may be easier to understand.
The right choice depends on your financial situation, your risk tolerance, and your property project.
Mixed mortgage and property sale
If you are considering selling a property financed with a mixed mortgage, it is important to check each tranche of the contract.
Before selling, you should know the balance of each mortgage tranche, the remaining terms, the termination conditions, and any potential penalties.
A mixed mortgage can sometimes make the sale more complicated if certain tranches are still committed for several years.
It is therefore important to plan ahead.
Also read on Immoprice: Selling a property with an existing mortgage
Why have your property valued before selling?
Before selling a house or apartment with an existing mortgage, a property valuation helps you better anticipate the next steps.
It helps you determine whether the likely sale price can cover the mortgage balance, the costs related to the sale, and any potential early termination fees.
With Immoprice, you can obtain a valuation of your property and compare several real estate agents in order to sell under better conditions.
Conclusion
A mixed mortgage is a financing solution that combines several models or several mortgage terms.
It helps spread risks and find a balance between stability and flexibility.
It can be an attractive option for homeowners who want to secure part of their financing while keeping a certain degree of flexibility.
However, it requires a good understanding of the different tranches and their conditions.
Before choosing a mixed mortgage or selling a property financed with this type of structure, it is recommended to check the conditions of each tranche and have your property valued.
Are you considering selling your house or apartment? Immoprice helps you value your property and compare real estate agents suited to your project.
Calculate your financing capacity
Before committing, you can use our mortgage calculator to estimate your monthly payments and better understand the impact of property financing on your budget. Estimate your mortgage with the Immoprice mortgage calculator:
Do you already own a property?
If you are considering selling a property that is still mortgaged, it is useful to know its current value.
This helps you estimate whether the potential sale price covers the mortgage balance, any potential costs, and your future property project.
Estimate the value of your property with Immoprice: