Will the bank appreciate this?? [interest rate change before signing contract]

Finance, Taxes, Banking, Insurance and Retirement
1
Two weeks ago we were in the bank to discuss for a fixed-term mortage. It is not a big mortgage, we just chose the duration and interest rate (which is the same as published on their internet). Nothing signed on place. They then sent the contract at home to sign.

Then when I'm about to sign the contract, by curiosity I checked again their internet and I saw that the interest rate now has been down a little (0.05% lower) compared to 2 weeks ago.

Question: Since the contract has not been signed, is it advised to ask the bank to re-sent a contract with the latest interest rate?

We do not have a big dedt, with the latest interest rate, we save about 190 CHF interest per year, that is only 16 CHF per month.

I'm not sure if I could call the bank. How will they treat this behavior?

2
Why not? You hadn ́t agreed on the interest rate so I ́d just ask

3
At first I thought the same.

But since the bank does not ask you to sign the contract on place, they sent the contract later at home, this 2-week delay theoretically always allows to check the latest interest rate and decide whether to sign or to ask a new contract with a lower rate. Is this kind of abusive?

4
Normally there is window lasting a few days, in which the bank can still offer you the best (lowest) rate, in case the rate goes up. I was given the interest rate that was advertised and offered on the day of signing, which was the best one as it was lower than the rate when I was still 'arranging' the mortgage.

5
Is it really worth all the hastle for two tenths of sod all ?

Point it out to your banker and get him to take you to lunch, you'll be far better off

6
Yes it is worth it. Why throw away money?

7
Isn't there a clause in the contract stating the contracted interest rate will be held at the stated rate for 10 days or so? Rates go up and down every hour and I cannot imagine a bank not taking account of the possibility of rapid changes. Would you have complained if the change had been in your favour?

8
Because the cost of the lunch will be more that the actual saving !

9
190 CHFs a year just by asking - i'd do it. I asked my bank for a 1 year contract last year instead of the usual 5 year that's been rolled over twice now, and they did it. Meaning, we can leave for a better deal next year.

10
No, there is surprisingly no clause saying this rate is valid up to how many days.

Now we even think of changing the duration, as I realize that the duration we chose does not fit us the best...

I will try to call Monday to see if this can still be changed.

Anyway, the rate/duration... is not in the main contract but in a convention in annex. So I guess if we change we just have to replace that page.

11
Who spends that much money on lunch?! Until you have signed you can modify the duration as well as other details to suit your needs.

12
Last time I renewed my mortgage with UBS, I went into the office to sign. Just before I signed, the UBS advisor went to check the latest rates, and they were slightly down, so she quickly drew up another contract to take advantage of that rate. She assured us that if it had gone up, the original rate we agreed on would have stood.