SWISS FRANC MORTGAGE

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Muggsy
Posts: 1
Joined: 07 May 2012 11:37

SWISS FRANC MORTGAGE

Post by Muggsy » 08 May 2012 11:25

Hi,
I'm Muggsy and new to the forum.

I have a couple of questions to ask and I'm hoping someone will be able to help.
Firstly, I have a Swiss franc mortgage with Alphabank, the home loan being in my name, my husband's name and my daughter's name, how to we protect properties in the UK, should we ever get into difficulty with the mortgage in Cyprus.

Secondly, I was not given any advice when we took out the home loan regarding the increases in the exchange rate, I was not asked to produce proof of Life Insurance to cover the loan. I was under the impression the Life Insurance was integrated into the loan, but unforunately this is not the case as I have just recently found out after the sudden death of my husband in April. I do pay an Insurance premium every year and have done since we purchased the property but I am told this is a fire policy. My husband dealt with everything when he was alive and I don't know where to staart to sort things out.
I would appreciate some good advice and comments.



andyp
Posts: 76
Joined: 04 Feb 2011 23:22

Re: SWISS FRANC MORTGAGE

Post by andyp » 10 May 2012 10:17

Hi Muggsy,

Sorry to hear of your loss and problem with SFM.

Not an expert but I do not think your insurance arguments will be of help. I assume you consider that you were mis sold the SFM and this would be worth pursuing. I am sure your husband did NOT do everything!

I think there are several SFM help groups and perhaps Nigel may be able to put you in direct touch.

There are also a few articles on mis selling in the news section which may be worth a read.

Best of luck



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