Not A Member Yet? See All The Features Of The Forum By Clicking Here To Register For FREE! Or Members Login Below:

Cyprus Eastern Forum Index Cyprus Eastern Forum Index
Offering Free Help, Advice, Tips & Support for those buying or living in:
Paralimni - Protaras - Pernera - Kapparis - Agia Napa - Larnaca - Oroklini - Pervolia - Kiti - Xylofagou
Vrysoulles - Frenaros - Dherynia - Sotira - Agia Thekla - Liopetri - Ormidia & surrounding areas...

 
Main Homepage Cyprus Eastern Forum Index Register Directory Memberlist Search

  Ads By Forum Sponsors

    
Cyprus Eastern Forum Index » Ask Nigel A Question » Swiss franc mortgage
Post new topic  Reply to topic   View previous topic : View next topic 
Swiss franc mortgage 
Post: #1   PostPosted: Tue Feb 27, 2018 9:33 pm Reply with quote
21 moringstar
Joined: 11 Dec 2016
Posts: 8
Pictures: 0

 
Hi Nigel
I notice there is not much on the forum about those people who were affected by the Swiss franc mortgage scandal. Has anyone actually won a case against the banks, or have people just given in ?
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel


Hide These Ads? Register for Free or Login

 
Post: #2   PostPosted: Wed Feb 28, 2018 8:28 am Reply with quote
nhowarth
Forum Moderator
Forum Moderator
Joined: 30 Aug 2005
Posts: 4917
Pictures: 9
Location: Erimi, Limassol

 
Hi 21 moringstar

The cases against the banks of alleged mis-selling CHF loans have yet to be heard in court.

Regards,

_________________
Nigel Howarth
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel
 
Post: #3   PostPosted: Wed Feb 28, 2018 8:38 pm Reply with quote
21 moringstar
Joined: 11 Dec 2016
Posts: 8
Pictures: 0

 
Do we know when that is going to be?
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel
 
Post: #4   PostPosted: Thu Mar 01, 2018 7:33 am Reply with quote
nhowarth
Forum Moderator
Forum Moderator
Joined: 30 Aug 2005
Posts: 4917
Pictures: 9
Location: Erimi, Limassol

 
Hi 21 moringstar

I understand they're due to go to court this year but I don't have dates.

I'll publish an article as soon as I have news.

Regards,

_________________
Nigel Howarth
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel
 
Post: #5   PostPosted: Mon Jan 28, 2019 1:35 am Reply with quote
dreamhandler
Joined: 11 Mar 2015
Posts: 4
Pictures: 0
Location: UK

 
My Bank in Cyprus has recently given me an offer, via Hill and Blythe (and legal team) to settle out of court regarding my Swiss Franc loan case.
The deal is a reduction of approx 40% on what I have left to pay and the mortgage loan to be restructured in a currency of my choice from either Euro or Pounds Sterling.
It's been just over a three year battle, but I'm happy to finally have a result.
Question now is, considering I'm going to rent the property, do I settle for a GBP Sterling or Euro loan? I'll be making repayments from the UK, but all dealings in Cyprus and rent payments will obviously be in Euros.
Any advice appreciated.
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel
 
Post: #6   PostPosted: Mon Jan 28, 2019 6:21 am Reply with quote
nhowarth
Forum Moderator
Forum Moderator
Joined: 30 Aug 2005
Posts: 4917
Pictures: 9
Location: Erimi, Limassol

 
Hi dreamhandler

I'm pleased to hear that you've finally have an agreeable settlement.

As a general rule of thumb, your loan should be in the same currency as your income unless you want to speculate on the currency market again.

Regards,

_________________
Nigel Howarth
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel
 
Post: #7   PostPosted: Mon Jan 28, 2019 2:15 pm Reply with quote
dreamhandler
Joined: 11 Mar 2015
Posts: 4
Pictures: 0
Location: UK

 
Hi Nigel,

Many thanks for your advice

And I'm pleased with the outcome of my settlement as well Smile

Kind regards,
G.
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel
 
Post: #8   PostPosted: Fri Feb 01, 2019 7:16 am Reply with quote
Conor
Joined: 23 Feb 2007
Posts: 266
Pictures: 0
Location: UK & YouTube

 
Congratulations dreamhandler, there are hundreds if not thousands of people in the same predicament you were in.
I am so pleased to hear of your settlement. Well done!
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel


Hide These Ads? Register for Free or Login

 
Post: #9   PostPosted: Mon Feb 04, 2019 11:27 pm Reply with quote
dreamhandler
Joined: 11 Mar 2015
Posts: 4
Pictures: 0
Location: UK

 
Thank you for your kind words Conor.

Believe me, I'm very grateful something positive has come of my battle with the bank.

I hope others get the justice they deserve, from the Swiss Franc loan scandal.
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel
 
Post: #10   PostPosted: Wed Feb 06, 2019 10:14 pm Reply with quote
pcmike
Joined: 09 Jul 2007
Posts: 177
Pictures: 0

 
Which bank did you get your discount against?
Mike
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel
 
Post: #11   PostPosted: Thu Feb 07, 2019 6:31 am Reply with quote
nhowarth
Forum Moderator
Forum Moderator
Joined: 30 Aug 2005
Posts: 4917
Pictures: 9
Location: Erimi, Limassol

 
Hi Mike

I don't know how often dreamhandler visits the forum. I suggest you get in touch bu email.

Regards,

_________________
Nigel Howarth
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel
 
Post: #12   PostPosted: Thu Feb 07, 2019 6:41 pm Reply with quote
dreamhandler
Joined: 11 Mar 2015
Posts: 4
Pictures: 0
Location: UK

 
Hi Mike,

Sorry for the delay replying.

The discount is from Alpha Bank.
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel
 
Post: #13   PostPosted: Fri Feb 08, 2019 1:33 am Reply with quote
paul07
Joined: 20 Nov 2006
Posts: 286
Pictures: 2
Location: Paralimni & Shaw, Oldham

 
Hi, Been in a similar position with the CHF mortgage from 2007.
The first few years no problem, then the mortgage payments doubled if not more. I struggled and missed a few payments, took on an extra job back home to try and cope.
I was in arrears for about 4500,
Finally saved up the arrears, spoke to the bank manager in Cyprus I had the funds to pay of the arrears and was informed it had gone to the recoveries dept, around 2015.
The last 3/4 years my Cyprus solicitors and me have been in constant touch with the recoveries dept.
And in Nov 2018, I was offered, if I could deposit 62,000 before 27/12/18, the mortgage would be settled and released. Mortgage at that time was 125,626.
I've paid the 62,000 and now mortgage free with deeds.
Total ball ache and long, but got there.
Next, Getting the house into my 2 daughters names, so they will let me live there rent free when I decide to pack in work, then when I pop my cogs, as Nigel mentioned in a previous topic, they can enjoy holiday in Cyprus like I do 4/5 times a year.
Good Luck to all in this situation.
Paul
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel
Swiss franc mortgage 
  Cyprus Eastern Forum Index » Ask Nigel A Question
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
  


All times are GMT  
Page 1 of 1  



  
  
 Post new topic  Reply to topic   
Search Tags: #Swiss #franc #mortgage



 Facebook Page    Facebook Group    Our Channel    Cyprus eBay Search    Shopping To Cyprus    Contact Admin   SmartFeed RSS Feed



BUYING PROPERTY IN CYPRUS? PLEASE ENSURE THAT YOU SEEK INDEPENDENT LEGAL ADVICE FIRST.
Cyprus forum covering Kapparis, Protaras, Pernera, Agia Napa, Agia Thekla, Paralimni, Larnaca, Oroklini, Pervolia & surrounding areas
Please note that the views expressed on this forum are those of the author and may not reflect the views of the management.
* Problems Logging In? Click To Contact Us | Powered by phpBB © phpBB Group Design Style: VTrushkin | View Lo-Fi Version