Alpha Bank and Swiss Franc Mortgages!

[jam786]

Hi

Has anybody got a deal with the other bank BOC in the new discounts as it is all Alpha bank. I can't afford to pay my mortgage in full but I still pay them monthly which I told the bank that this is all I'm paying.

I think my developer has gone bust, not sure how true it is but at the time of buying my developer was guarantor of my mortgage and previously I have asked my bank if I don't pay what happens and I've been told that bank will.chase developer before me.

The other thing is myself like many others don't have title deeds and think I'm paying for something. That could never been mine

Thank you
Jamil

[MMC]

Thank you all for your replies. Please note that I did the deal with bank today and I feel extremely happy. Have I done the right thing? Why have I been advised to go through a lawyer? The bank gave me proof that I have settled my loan in full. What could go wrong? Please note that my title deeds will be ready next month as all paper work has been finalized so I have no issues with the developer. I feel a bit uneasy now as I did not go through a lawyer. Any comments would be appreciated.

[MPM]

Well done what a relief! I presume you went with the 25%? I hope all works out well and you can forget about this stressful business and enjoy your property.

[MMC]

Well done what a relief! I presume you went with the 25%? I hope all works out well and you can forget about this stressful business and enjoy your property.

Yes I am so relieved! Thank you for your nice comments Yes I went with the 25%. I just had to get it over with.

Does anybody really think that I could have got a better deal? They would not have even discussed a higher discount! It was basically take it or leave it. SO I TOOK IT.

I am still confused as to why many say to go through a lawyer. As long as you get proof from the bank isn't that enough? Also regarding the title deed, even if you don't get them for some reason and you the developer goes bust, first you cannot lose your property as there is a law that has been inforced in Cyprus regarding this and secondly, whatever happens when you have a loan it has to be paid regarless of the deeds situation.

I look forward to your comments

[MPM]

Every case is going to be different and everyone will decide what is the best course of action for them. I'm sure you have done the right thing - you have got a sizeable discount and and end to the spiralling mortgage payments which we have all been struggling to cope with. Some folks have apparently given up and just left their properties due to this mess, at least you have got yours
If people want to stick it out longer they may get better deals, but they may not... I think some people are hoping their whole loan gets wiped out and even some compensation, well if that's what they are prepared to wait for and continue to fight for then good luck to them.
I suspect some chinese whispers at play with regard to the amounts of discount being quoted from some sources as they do sound incredibly high, but as I say, if you can get it, good on you
We'll be happy with a reasonable discount to have an end to this and I'll be happy to quote it once it's a done deal because it may help others in similar situations, but it's not helpful if silly amounts are being bandied about or relying on hearsay.
The only reason we went via a lawyer was because ;
a) we had approached the bank twice directly without any glimmer of a deal at all and
b)the main 'group' was full and not accepting new members at that time (they subsequently were but it was too late we had already appointed a lawyer by then.
The lawyer swiftly agreed a reasonable deal for us and subsequently has been checking that there are no isses attached to our property which we are shortly going to be paying for in full. I doubt the bank will do that for you - yes they will agree you have paid for the property in full and sign everything off to that effect, but no more than that.
Our lawyer is making sure everyhting is watertight before we pay the settlement sum regarding land and all transactions which could could back and bite us. Hopefully everything is in order; we paid a substantial amount for the title deeds about 3 years ago which the bank insisted on keeping as the property was mortgaged to them so we never saw anything but a copy! So we should get everything very soon.
Hope that helps

[Mr J]

Hi Nigel,
We seem to be in a similar situation with a Swiss franc mortgage.
Can you please send the list of groups that can help.
Thank you
Phil.

[Nigel Howarth]

Hi Phil and welcome to the Forum.

I have just sent you an email listing the various groups and their contact details.

Regards,

[grimwood]

Hi we are in cyprus for a few days to try and sort out our swiss franc mortgage with alpha bank. We have been told of friends reducing their mortgage by 50 % with alpha paying for their flights as well. Has anyone else heard of this being offered? Any advice would be appreciated we are not part of a group. Thanks

[MPM]

No I've definitely not heard of anyone being offered any such deals but it would be very interesting to hear if you can confirm your sources have achieved this!

[Nigel Howarth]

Hi grimwood and welcome to the forum.

One of the groups has achieved substantial savings - but paying for flights? I think not.

Regards,

[grimwood]

Hi nigel thank for your welcome. Could you send me details of the groups please. I am waiting for confirmation from my friends about their deal. Willkeep you informed.

[Nigel Howarth]

Could you send me details of the groups please.

I have just sent you an email listing the groups and their contact details.

Regards,

[Caroline W]

Hi Nigel,

Would you please be kind enough to send me the contact details too. I too am one of the many brits that unfortunately have a swiss franc mortgage and are currently looking at all options.

Many thanks!

[Nigel Howarth]

Hi Caroline and welcome to the forum.

I have just sent you a list of the various groups and their contact details.

Regards

[camso025]

Hi Nigel,

Would you please be kind enough to send me the contact details to. I unfortunately have a swiss franc mortgage and am currently looking at all options.

Many thanks!
Susan