Cyprus Property Forum for Buyers, Sellers & Investors

Hello Forum!

I, like many others, have a swiss franc mortgage. The bank want me to increase my loan instalments in-line with the initial 'agreement' back in 2007. I am trying to resist this and they have agreed to allow me to keep my payments at the current figure for 2 more years and then increase it. To do this I have to sign an agreement. This is the problem. I do not trust the bank and do not want to sign it (it would also need to be signed by the developer but they have never responded to me once so goodness knows how I would gain his signature). My concern is that if I do sign this document am I in some way affecting future legal action? I am part of a group that is seeking to have the swiss franc mortgage scam overturned. I don't want to sign anything that may jeopardize this.

I want to keep payments at as low a figure as possible as I don't want to pay for something I may never own and have taken away from me in the long term. But, in the short term, I do not want to affect future legal proceedings.

Any advice would be gladly accepted.

Regards

Janner

The best advice is to seek professional le advice, not some opinion on a forum.

Given we do not have the agreement to scrutinise and are not privey to any of your groups goings on, then I don't see how anyone can give an informed input.

Sorry to hear about your problem, but speak to your lawyer is the best and only advice.

Good luck

Hello Janner,

I too have a swiss franc mortgage....causing considerable finanacial pain.
But why do you refer to it as a swiss franc mortgage scam and what is your group trying to get overturned?

Regards,
Raven

Hi raven

There are a number of groups pursuing the banks for the alleged mis-selling of Swiss Franc mortgages. There are issues relating to Power of Attorney documents being incorrectly used, banks failing to advise clients of the risks associated with foreign currency mortgages, etc.

(Some people didn't want or need mortgages but found that their lawyer had arranged them with the bank - without referring back to their clients).

There is at least one other group trying to renegotiate CHF loans with the banks.

Regards,