UBS clients can now convert their Libor mortgage into a Saron mortgage. For its part, SGKB is launching two products.
UBS and the Cantonal Bank of St. Gallen (SGKB) in turn offer mortgages based on the Saron rate, which is due to replace the Libor in 2021 as the benchmark interest rate in francs.
UBS clients can now convert all or part of their Libor mortgage to a Saron mortgage at the end of the fixed interest period (i.e. within three, six or twelve months), it said. the big bank Monday. Other Saron products will follow in 2020 and 2021
For its part, the SGKB is launching two products, the credit and the Saron mortgage, according to a statement released on Monday.
In April, Raiffeisen announced that it would replace its Libor-based mortgages in francs with products based on the new rate.