Laiki Bank

[cherrink]

I am starting to struggle with my CHF mortgage (in common with a lot of people) and have done much reading on the subject. I have sent out a raft of e mail to sols etc to try and work out a way forward on this. I long term let my apartment out quite a while ago but the rent covers only about a third of the mortgage given the huge rises we have seen caused by both increased margins and the increased value of CHF. I also began actively chasing my deeds issue so that I could try for a sale. Deeds now look imminent.

My question is - does anyone have any experience of how the Laiki Bank react when someone is in this situation.

Last year my husbands job was at risk and I talked to them then and they were totally unhelpful - no payment holiday offered - no interest only option offered (which I physically requested) - all they did was offer me a different deal which was of very little use.

I am now debating not making payments to see what happens as I cannot afford for much longer anyway? I have about 6 months or so payments left if I pay for my deeds. Anyone have any comments on this?

Also does anyone have any idea of how successful I may be in gaining a sale on a 2 bed ground floor apartment with deeds in the Universal area of Paphos and at what price?

[richard2]

I am starting to struggle with my CHF mortgage (in common with a lot of people) and have done much reading on the subject. I have sent out a raft of e mail to sols etc to try and work out a way forward on this. I long term let my apartment out quite a while ago but the rent covers only about a third of the mortgage given the huge rises we have seen caused by both increased margins and the increased value of CHF. I also began actively chasing my deeds issue so that I could try for a sale. Deeds now look imminent.

My question is - does anyone have any experience of how the Laiki Bank react when someone is in this situation.

Last year my husbands job was at risk and I talked to them then and they were totally unhelpful - no payment holiday offered - no interest only option offered (which I physically requested) - all they did was offer me a different deal which was of very little use.

I am now debating not making payments to see what happens as I cannot afford for much longer anyway? I have about 6 months or so payments left if I pay for my deeds. Anyone have any comments on this?

Also does anyone have any idea of how successful I may be in gaining a sale on a 2 bed ground floor apartment with deeds in the Universal area of Paphos and at what price?

Hi Cherrink I am in the same position with Laiki Marfin also in Universal area - did you buy through Superior?

Please let me know how Laiki responded to not paying - Im thinking of doing the same as now redundant.

Id say your two bed will sell for around €80 000 - probably easier to sell if has access to a pool.

Regards
Richard

[footy123]

Hi Richard2.You have a two bed apartment on Universal for sale at EIGHTY THOUSAND EUROS?Where on earth did you get your price from it sounds really low.
I also have a two bed apartment on Universal on the market at 120,000Euros and that is 14,000Euros less than the one next door but one to me.I have had around 6/7 viewings.If my price was way to high i do not think i would have had those viewings in the first place.

[cherrink]

Hi Richard

I requested interest only again and left it with them for a very short while but did not send over any more funds to pay the mortgage pending an answer. I gained an answer November last year (request in August) and they went interest only for me from the end of October for one year.

It looks as though the years window will not help hugely as Swiss franc does not appear to be moving and not sure the property market has either but hey ho!