Where to go for a loan?
The first thing to consider when making a credit is: where to go? There are many solutions in Lausanne and in the area: several banks offer financial services but there are also brokers and credit agencies. Each solution has some advantages, you only have to know what you are looking for:
- Banks: many credit banks are established in Lausanne: big banks, cantonal banks or societies that are less known but specialized in loan services like Bank-Now or Cembra for example. Both of them have branches in Lausanne. When being directly in contact with a bank, you won’t have to deal with intermediates. But no one will be able to defend your file so that you get better conditions. You will be « stuck » with the bank’s offer, with no possibility to negotiate.
- Brokers agenciesthese agencies create intermediates between clients and banks. They usually have a good reputation and they have built a strong network of brokers at disposal to advise you. An agency will try to process your file through different banks and will choose the best option for you. You will not only benefit from good advice, but also from better conditions in general. There are several credit brokerage agency in Lausanne.
- Independent brokers: they usually are brokers that go through an agency. Dealing with an independent broker will give you the most direct contact but it is also the longest one: the request, that is sent to the independent broker, will be transferred to a credit agency and then to one or several banks.
Do you have to deal with an agency based in Lausanne?
We could think that for a credit in Lausanne, you should get in contact with an agency based in the city .But there are serious agencies based elsewhere in Switzerland, that have built a very strong brokerage network. Their brokers are ready to come see you! Multi credit, for instance, is based in Fribourg but one of their brokers can come to Lausanne to make you an offer. Do not hesitate to look elsewhere in Switzerland to be sure to deal with the best adviser possible!
How does the procedure work
Getting a credit in Switzerland usually requires the same procedure whether you make it in Lausanne or somewhere else, with a bank or a broker:
- 1 Request and forms: on top of your request, it is usual to have to deposit forms in order to analyse your budget and to prove your identity: salary bills, identity card, LAMAL healthcare prime copy.
- 2 Waiting and additional documents: it is usually possible to get an answer within the next two days. Additional forms can be requested in order to analyse your file.
- 3 Contract: if the request is accepted, you will get a contract to sign. Once you sign it, you will automatically get a 7 day notice period in case you change your mind.
- 4 Credit collection: this one will be made after the 7 day notice period. The money can be collected cash, on a bank or postal account.
Beware of scams
Fortunately, cases of scams are rare in Switzerland…but not inexistant! To make sure that your credit contact in Lausanne is not a scammer, you should check the following points:
- The broker or agency shows on the Chamber of Commerce.
- You are given the possibility to get a free offer without commitment and a 7 day notice period once you sign the contract.
- Beware of offers that are « too good to be true » (credit in Lausanne with an interest rate starting at 4.9% for example). Interest rates in Switzerland are usually starting at 5.9% with an average of 9.9% up to 14.5%.
