Seeking Bank of Cyprus mis-sold mortgage victims

Legal questions answered by Cyprus property lawyer Louise Zambartas

Moderator: louisez

Post Reply
Message
Author
Alethriko
Posts: 3
Joined: 09 Apr 2013 00:08

Seeking Bank of Cyprus mis-sold mortgage victims

#1 Post by Alethriko » 09 Apr 2013 00:38

Looking to touch base with people with Bank of Cyprus "mortgages".

Do you have a Bank of Cyprus mortgage?

Was it mis-sold to you?

Do you have a Swiss Franc mortgage?

I will be happy to relate the extensive legal advice I have received over 3 years. I am looking to negotiate with the bank.

The more of us unite together, the stronger our position will be and the better settlement terms will be achieved.

I am prepared to do the leg work.

Please drop a line on the Forum and email [email protected]



jam786
Posts: 13
Joined: 25 Oct 2010 20:47

Re: Seeking Bank of Cyprus mis-sold mortgage victims

#2 Post by jam786 » 22 Oct 2013 21:33

Hello

I had a swiss franc mortgage with laiki bank now boc.

I recently told the boc that payments were unaffordable and that our developer owes a lot of euros to boc to which she nodded her head and said the government must do something.

I have no title deeds after 5-6 years and mentioned to her that I may be paying for nothing.

A good friend in Cyprus told me just pay something each month and that keeps them of your back.

Thank you
Jamil 07786033640

Ps. I can't believe you got no replies



veejay29
Posts: 7
Joined: 17 Oct 2013 21:45

Re: Seeking Bank of Cyprus mis-sold mortgage victims

#3 Post by veejay29 » 28 Oct 2013 19:56

Hi,

I too have a similar kind of story....have a Bank of Cyprus Mortgage but its in Swiss Francs. Currently its too much of a currency fluctuation to pay.
Whats your strategy??
Thanx
Vj

Alethriko wrote:Looking to touch base with people with Bank of Cyprus "mortgages".

Do you have a Bank of Cyprus mortgage?

Was it mis-sold to you?

Do you have a Swiss Franc mortgage?

I will be happy to relate the extensive legal advice I have received over 3 years. I am looking to negotiate with the bank.

The more of us unite together, the stronger our position will be and the better settlement terms will be achieved.

I am prepared to do the leg work.

Please drop a line on the Forum and email [email protected]



Scallywag
Posts: 1
Joined: 29 Jul 2013 14:06

Re: Seeking Bank of Cyprus mis-sold mortgage victims

#4 Post by Scallywag » 05 Dec 2013 21:40

I am in a similar situation...

We put a 20 % deposit down and have recently had the property valued based on the recommendation of the bank :roll:

It is now worth 60% of what is outstanding on the mortgage. If we were to sell we would still owe the bank around £85k and we certainly don't have assets to cover that.

The payments are just unaffordable and we are now beginning to feel the strain. We saw the bank in August whilst on holiday and our account manager said she would come up with some 'options' for us. Well those options have just [email protected]

1) Continue with a repayment mortgage but the payments will go up by 45 CHF approx per month and it will have to be reviewed every 3 - 4 years

2) Pay interest only for a year and then the payments next year will go up by 950 CHF per month !!

Which part of 'struggling' did they not understand ?

I am now considering taking legal advice as the payments are just unsustainable. If the UK interest rates go up in the near future we will be in real trouble !!

:-!



cherrink
Posts: 14
Joined: 12 Apr 2010 23:32

Re: Seeking Bank of Cyprus mis-sold mortgage victims

#5 Post by cherrink » 25 Jan 2014 13:33

Judicare are helping everyone with Swiss Franc Mortgages (not just Alpha Bank) . They look at your documents and give a free opinion as to possible ways forward for you…. If you have any they then pass to a Cypriot barrister at a charge of £750 to get their free opinion confirmed or not….

I am not sure of costs if they decide that you have a good case to right off the full deal and void it. To renegotiate your deal however I understand that you pay £1000 to instruct and they then negotiate. If you are happy with the deal then you pay the final £3000 to finish everything off. The negotiation includes I understand moving away from Swiss Francs and gaining a discount off the balance. Also possibly adding time to the mortgage to enable easier repayments. They talk about the level of refund being similar to interest paid so far (possibly 20%) but could be more depending on circs. Fees are all fixed.

At the moment my understanding is that Bank of Cyprus are not yet negotiating.



Post Reply

Who is online

Users browsing this forum: No registered users and 1 guest