Law / CHF loans & mortgages, customers in Poland left biting the bullet. Walking away? [20]

Thanks for the reply Boydie, pretty much what I thought...might get the contract checked out...

Law / CHF loans & mortgages, customers in Poland left biting the bullet. Walking away? [20]

[Moved from]: 'Walking away' from a Polish mortgage

Hello All,

I'm in the position of having a CHF (Swiss Franc) mortgage on an off-plan Polish property due to complete this year (complicated story).

I would consider terminating the contract with the developer except for the fact that due to the large exchange rate shift between the CHF and Zloty, the amount required to redeem the mortgage has risen significantly.

I would like to know if anyone has actually walked away from their Polish mortgage and what the legal implications were i.e. could the bank pursue the redemption amount as opposed to taking the property? I'm a UK resident but I presume the same situation would apply to all non-Polish residents.

Thanks for any info on this...

Real Estate / People who bought in Katowice Oak teraces phase I and phase II [102]

Marky - you can contact me at: neilrhenderson at yahoo dot co dot uk

Real Estate / People who bought in Katowice Oak teraces phase I and phase II [102]

Hi All,

I'm also a PS Katowice investor but in Piastow. Unfortunately the mortgage is already running.

Macky kindly guided me here and I'm listening in with interest. My post on the PS forum was to do with attempting to gauge the interest level in regard to a builder I've worked with before in the UK with Polish family connections to bring a group of Piastow apartments to white finish level.

Anyway, I'll watch this thread with interest...

Neil