Lun, 15 de Abr de 2024
In the first quarter of 2024, insurance companies and pension funds, partners of Helvetia’s Moneypark, accounted for nearly half of all brokered mortgages.
Insurance companies and pension funds are becoming increasingly involved in the mortgage market. In the first quarter of 2024, they accounted for almost half of the brokered volume as financing partners of Helvetia subsidiary Moneypark.
This is shown by an analysis of provider and product selection in the mortgage market, as announced by Moneypark on Monday. The company currently counts over 20 insurance companies and pension funds among its financing partners.
Together, these already accounted for 45% of the brokered volume in the first quarter of 2024.
This is the highest proportion of insurance companies and pension funds brokered by Moneypark to date. According to the information provided, 29% was attributable to insurance companies and 16% to pension funds.
Moneypark also assumes that the mortgage volume of insurance companies and pension funds will have grown by over 6% in 2023.
The hunt for new mortgages among insurance companies and pension funds is also likely to continue. According to Moneypark, three insurance companies and two pension funds are already among the top ten in terms of volume brokered by the Helvetia subsidiary.
A look at ten-year fixed-rate mortgages as the most popular mortgage term shows that insurance companies and pension funds “have been ahead of the banks in terms of interest rates in recent years”.
As the proportion of Saron mortgages at Moneypark was still over 30% in summer 2022 due to the high interest rates, the banks offering predominantly Saron mortgages benefited in particular from the rise in interest rates.
However, due to the increase in the Saron interest rate from September 2022, the share and thus the volume brokered by banks has fallen again.
This has made fixed-rate mortgages with terms of up to ten years cheaper again since autumn 2023 and reduced the proportion of Saron mortgages. In the first quarter of 2024, Saron mortgages only accounted for around 7% of the brokered volume, according to the report.
Looking at the big picture, however, insurance companies and pension funds still play a small role in the overall mortgage market. According to the latest calculations by Moneypark based on figures from the Swiss National Bank (SNB), the Swiss Financial Market Supervisory Authority Finma and the FSO insurance companies and pension funds accounted for around 5% in 2022.
By far the largest share of the mortgage market was held by the cantonal banks with 37%, the then two big banks UBS and CS with 24% and Raiffeisen with 17%.
Together, these three players accounted for almost 80 percent of the total mortgage volume of over CHF 1,200 billion in 2022.
©Keystone/SDA
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