# Swiss franc mortgage



## Dave100 (Nov 14, 2008)

Hi, I responded to a small advert in Cyprus Mail. Spoke to a British couple that took me to meet a Cypriot lawyer who said he could save me money on my mortgage. It sounded to good to be true, and it was. This is an illegal scam. You are asked for money up front, and if you then decide not to proceed there is no refund. 
The large adverts in the press are another case all together and there should not be a problem with them. However talk to your bank first and see what they can do to help. The Swiss franc loan was designed for business not private use.
Dave


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## PeteandSylv (Sep 24, 2008)

If he was a genuine lawyer and taking part in an illegal scam, have you reported him to the appropriate authorities and also the Cyprus Mail?

I have no reason to doubt what you say but what made you conclude it was a scam? All the UK banks require money upfront for a mortgage application which is also non-refundable.

Pete


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## mdekkers (Jul 3, 2013)

Also, Swiss Franc Mortgages have ruined many people in Cyprus, both locals and expats. I was talking to a client of ours - they had and increase in cost of their mortgage of €260000 - he said it is so much money, they cannot even worry about it anymore. 

Martijn :ranger:


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## Dave100 (Nov 14, 2008)

PeteandSylv said:


> If he was a genuine lawyer and taking part in an illegal scam, have you reported him to the appropriate authorities and also the Cyprus Mail?
> 
> I have no reason to doubt what you say but what made you conclude it was a scam? All the UK banks require money upfront for a mortgage application which is also non-refundable.
> 
> Pete


I took legal advice from another solicitor and the method used is extremely questionable. I am seeking more info and the then will pass on the details to the authorities.


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## Guest (Feb 18, 2014)

Dave100 said:


> I took legal advice from another solicitor and the method used is extremely questionable. I am seeking more info and the then will pass on the details to the authorities.


I would not touch that kind of mortgage: Can't really see any reason

Anders


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## PeteandSylv (Sep 24, 2008)

Vegaanders said:


> I would not touch that kind of mortgage: Can't really see any reason
> 
> Anders


The reason people originally took these out is because they were substantially cheaper. It was only later they found out there is no such thing as a free lunch.

Pete


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