Mis sold Swiss Mortgage

[Janardhan]

Colleagues

Has anyone been affected by Mis selling of Swiss mortgage by banks?

I had a sterling mortgage earlier and Royal Bank of Scotland mis sold a Swiss mortgage to me in 2008. Since then I have been badly hit by the GBP to CHF exchange rate. Which the bank had said was very constant prior to 2008.

Has anyone faced the same problem and managed to sort this out?

thanks

Jana

 

[lookinginvest]

How were you misold the mortgage if the issue is purely down to exchange rates?

Why didnt you take out a sterling mortgage at the time, I presume your income is in sterling, and then covert to CHF to buy the property. Then your mortgage payments would have been in sterling with no currency risk. However, the value of your Swiss property when converted back into sterling would obviously be at risk.