Alpha Bank and Swiss Franc Mortgages!
Alpha Bank and Swiss Franc Mortgages!
Hi Everyone,
Following on from a recent article published within the Cyprus Property News regarding Cypriot Mortgage & Alpha Bank. I am writing in the hope that someone may be able to offer some guidance or information please, for an apartment which I purchased with my now ex-wife in Paphos, Cyprus in December 2006. It was purchased unbeknown to us at the time using a Swiss Franc mortgage obtained via Alpha Bank. We were only notified of this being Swiss Franc, when I had to make the first mortgage payment in 2009, prior to this all monies and deposits were paid in Cypriot Pounds, so I assumed that the mortgage was to be in Cypriot Pound or Euro.
I believe that we were misleadingly sold a Swiss Franc mortgage, via our corrupt Bank, Solicitor, Developer, as such I am now paying more than double the amount of monthly payments, and with each month that passes, payments are becoming more and more difficult to maintain. Also when I recently contacted the bank to enquire about a settlement figure, I was told that the amount required to pay back to the Alpha Bank would be €246'000 which I felt was extremely disproportionate and an unrealistic amount to pay back, considering the initial amount borrowed was £117,000 Cypriot Pounds in 2006.
My fear now is that I may now be facing financial ruin, if I have the apartment repossessed by the bank. (I was divorced last year and already lost most of my Shirts then!!) Therefore my preference would be to have the deal unwound or the keys handed back to the Developer, and also have the initial deposit of €25,000, returned to me, although I am a realist! and suspect that if I can walk away with the only shirt that I have left on my back! then I could consider myself Lucky!!
Any advice on which way to turn next, would be gratefully appreciated,
Many Thanks,
Will.
Following on from a recent article published within the Cyprus Property News regarding Cypriot Mortgage & Alpha Bank. I am writing in the hope that someone may be able to offer some guidance or information please, for an apartment which I purchased with my now ex-wife in Paphos, Cyprus in December 2006. It was purchased unbeknown to us at the time using a Swiss Franc mortgage obtained via Alpha Bank. We were only notified of this being Swiss Franc, when I had to make the first mortgage payment in 2009, prior to this all monies and deposits were paid in Cypriot Pounds, so I assumed that the mortgage was to be in Cypriot Pound or Euro.
I believe that we were misleadingly sold a Swiss Franc mortgage, via our corrupt Bank, Solicitor, Developer, as such I am now paying more than double the amount of monthly payments, and with each month that passes, payments are becoming more and more difficult to maintain. Also when I recently contacted the bank to enquire about a settlement figure, I was told that the amount required to pay back to the Alpha Bank would be €246'000 which I felt was extremely disproportionate and an unrealistic amount to pay back, considering the initial amount borrowed was £117,000 Cypriot Pounds in 2006.
My fear now is that I may now be facing financial ruin, if I have the apartment repossessed by the bank. (I was divorced last year and already lost most of my Shirts then!!) Therefore my preference would be to have the deal unwound or the keys handed back to the Developer, and also have the initial deposit of €25,000, returned to me, although I am a realist! and suspect that if I can walk away with the only shirt that I have left on my back! then I could consider myself Lucky!!
Any advice on which way to turn next, would be gratefully appreciated,
Many Thanks,
Will.
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Re: Alpha Bank and Swiss Franc Mortgages!
Hi Will & welcome to the forum.
I have just received your email and will be replying with the names and contact details of various groups that are assisting those who believe that they may have been mis-sold CHF mortgages.
Regards,
I have just received your email and will be replying with the names and contact details of various groups that are assisting those who believe that they may have been mis-sold CHF mortgages.
Regards,
Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news
Re: Alpha Bank and Swiss Franc Mortgages!
Thank you kindly Nigel
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Re: Alpha Bank and Swiss Franc Mortgages!
You're welcome Will.
Regards,
Regards,
Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news
Re: Alpha Bank and Swiss Franc Mortgages!
Dear Nigel
You mentioned various organisations representing misselling claims on Swiss franc mortgages. Would you kindly let me have those details? Also are you aware of any benefit to be gained by handing the property back to the bank, claiming insolvency in the Cyprus court and thereby avoiding action in the UK? As always , your assistance is greatly appreciated.
Maurice Cook
You mentioned various organisations representing misselling claims on Swiss franc mortgages. Would you kindly let me have those details? Also are you aware of any benefit to be gained by handing the property back to the bank, claiming insolvency in the Cyprus court and thereby avoiding action in the UK? As always , your assistance is greatly appreciated.
Maurice Cook
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Re: Alpha Bank and Swiss Franc Mortgages!
Dear Maurice
I have sent you an email with the names and contact details of the various groups representing those with potential claims of mis-selling.
Regarding the possibility of handing the property back to the bank and claiming insolvency, I believe that the bank will still be able to pursue you in the UK (and making yourself bankrupt will damage your credit rating for many years). I suggest you seek professional advice on how best to deal wit this situation.
Regards,
I have sent you an email with the names and contact details of the various groups representing those with potential claims of mis-selling.
Regarding the possibility of handing the property back to the bank and claiming insolvency, I believe that the bank will still be able to pursue you in the UK (and making yourself bankrupt will damage your credit rating for many years). I suggest you seek professional advice on how best to deal wit this situation.
Regards,
Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news
Re: Alpha Bank and Swiss Franc Mortgages!
Hello Nigel,
Could you send me the names and contact details of the various groups representing those with potential claims of mis-selling.
Thanks,
Raven
Could you send me the names and contact details of the various groups representing those with potential claims of mis-selling.
Thanks,
Raven
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Re: Alpha Bank and Swiss Franc Mortgages!
Hello Raven - I've emailed the list to you.
Regards,
Regards,
Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news
Re: Alpha Bank and Swiss Franc Mortgages!
Hi Nigel,
It looks like there are a few of us in the Swiss Franc Mortgage situation, please would you kindly forward any information on who may be able to assist.
Many thanks,
Paul
It looks like there are a few of us in the Swiss Franc Mortgage situation, please would you kindly forward any information on who may be able to assist.
Many thanks,
Paul
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Re: Alpha Bank and Swiss Franc Mortgages!
Hi Paul and welcome to the Forum.
I have emailed you the list of the various groups and their contact details.
Regards,
I have emailed you the list of the various groups and their contact details.
Regards,
Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news
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Re: Alpha Bank and Swiss Franc Mortgages!
Hi Nigel
I wonder if I could also ask you to send me details of anyone that might be able to offer help with the swiss franc mortgage problem.
Many thanks in advance
Mel
I wonder if I could also ask you to send me details of anyone that might be able to offer help with the swiss franc mortgage problem.
Many thanks in advance
Mel
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- Site Admin
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Re: Alpha Bank and Swiss Franc Mortgages!
Hi Mel and welcome to the Forum.
I have emailed you the list of the various groups and their contact details.
Regards,
I have emailed you the list of the various groups and their contact details.
Regards,
Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news
Re: Alpha Bank and Swiss Franc Mortgages!
Hi Nigel,
Please can you send me the list too?
Thanks
Please can you send me the list too?
Thanks
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- Site Admin
- Posts: 2920
- Joined: 24 Oct 2007 14:38
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Re: Alpha Bank and Swiss Franc Mortgages!
It's on its way.aimang wrote:Please can you send me the list too?
Regards,
Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news
Re:Swiss Franc Mortgages!
Hi All
Very good site for info on Cyprus Hi Nigel could you send me the list of groups regarding Swiss franc mortgages please as I also have a property with a mortgage in Swiss Franc.
Many thanks
Very good site for info on Cyprus Hi Nigel could you send me the list of groups regarding Swiss franc mortgages please as I also have a property with a mortgage in Swiss Franc.
Many thanks