Swiss Franc - Alpha Bank

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DanDan
Posts: 3
Joined: 01 Nov 2013 20:10

Swiss Franc - Alpha Bank

Post by DanDan » 11 Jun 2014 19:10

We have just had our loan reconstructed, but have not accepted yet, as the loan is still some £50,000 more the original loan, and also our payments are now much higher, going from £1,350pm to £1,700, but I think we have no choice, as our original loan now doubles next month to £2,700.

As any-one esle accepted this? Or can any one help as to want we do now, the group we are with, are saying that we should just accept the new loan, and put some-one younger on the new loan to make the payments less - Help



Nigel Howarth
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Re: Swiss Franc - Alpha Bank

Post by Nigel Howarth » 12 Jun 2014 12:46

Hi DanDan

I know that one of the groups recently achieved a settlement with the bank - and put the deal to its members (more than 400) to see if it was acceptable. More than 90% supported it.

I believe the loan has be repaid by the time you are seventy - extending it beyond that date will need someone else on the loan agreement, like your children.

But when you retire you'll probably have a lump sum available and may be able to clear the loan (or at least reduce the outstanding amount considerably).

Regards,


Nigel Howarth
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