Cyprus Property Forum for Buyers, Sellers & Investors

Hello, I'm new to this forum (excellent, very informative site Nigel) & just wanted to seek advice, thoughts into my situation.
Like many others we too were mis-sold our Swiss mortgage with Alpha Bank, repayments have doubled & life is becoming increasingly hard. My husband and I left the UK in 2011, sold our property & became residents of Cyprus & ventured into work fulltime here for a better quality of life. For the last 3 years we have asked for reduction of mortgage payments as they have doubled - this year we are now looking at €1250 per mth - our original repayments were €460. Last week I wrote a letter to the housing loan department to seek a mtg to negotiate a more realistic repayment figure, they have yet to respond (letter emailed, hand delivered etc).

I'm really concerned about the what ifs, my husband wants to walk away from the property but I can't see that as a viable option given we are residents & in the system paying social insurances wouldn't we have to declare bankruptcy?

We are at a lost what to do, we can't afford the repayments any advice, thoughts would be gratefully received. Thanks

Hello Zalakia and welcome to the forum.

As you may have read elsewhere on the forum, a number of groups are helping those who have been mis-sold Swiss Franc mortgages. I have sent you a list and suggest that you contact them to see which group and which approach you feel comfortable with.

Regards,