SWISS FRANC MORTGAGE
Posted: 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.
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.