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Getin Noble Bank / Dombank - it is possible to cancel mortgage agreement in CHF?

polishmortgages 7 | 36
24 Feb 2015 #1

I am looking for borrowers from GNB which have mortgages in CHF. I would like to sue bank to cancel mortgage in CHF and repay mortgage in PLN. this means that all cost related to CHF mortgages would be cancel and the bank would be forced to refund it. It long way but possible to achieve it.

I am wondering if there are many people interested to cancel mortgage agreement in CHF?

kind regards

one more thing. I would like that trolls and haters do not reply for this post... I just notice that more and more trolls are here...

thanks in advance
24 Feb 2015 #2
I'd ask if you've seen the proposal from the PFSA about converting CHF mortgages to PLN but that might be deemed to be off-topic.
OP polishmortgages 7 | 36
24 Feb 2015 #3
halo Harry,

yes, I have seen it but you have to be aware that it is not formal KNF proposal. Also government will not help borrowers and this was said by prime minister. Regulator (KNF) and Banks will try in my opinion to postpone the problem and find something else to talk in media like ISIS, Ukraine. They will pray that CHF go down like now and people forget about problem.

Now there are 99 people who sue GNB to cancel chf mortgage and I am wandering if there are people who would like to join. I have now some customers in my management and everyone want to try.
25 Feb 2015 #4
On what legal basis do you think you can get refunds?

Did the bank act illegally?
OP polishmortgages 7 | 36
25 Feb 2015 #5
halo Weeg,

please find examples. this just a few:
1. art. 3851. § 2, 3571, 388 § 1 k.c.
2. art. 58 § 1 w zw. z § 3 k.c.
3. art. 3571 k.c.
4. art. 471 k.c.
25 Feb 2015 #6
In plain English would be better.

I wonder how the law would deal with a contract that was perfectly acceptable to both sides for many years then no longer so, because of unforseen events outside either parties control.
OP polishmortgages 7 | 36
27 Feb 2015 #7

in some part what you are writing you are right but from the last years this mortgage is like gamble on currency and it should not be named mortgage but derivative mortgage only for experienced investors. I also assume from your replies that you do not have mortgage in chf...
28 Feb 2015 #8
Hi Polish Mortgages

This is an interesting subject , I have only one CHF mortgage now , I would be interested if you have had any expert opinion on the cancelling of CHF mortgage . I took out with Noble Bank and the terms seemed very clear that I was taking a risk on the currency and I had to sign to say I understood the risk .It is a buy to let mortgage so I suppose more commercial rather than consumer end user orientated ?
28 Feb 2015 #9
The government's job isn't to bail out speculative currency gamblers with tax payers' money. What next? I can sue them because my shares in Pekao went down or the value of my apartment went down.... Why didn't you take a mortgage in PLN the currency of Poland? You took a risk; it may have paid off at the beginning and now it isn't - deal with it.
jon357 71 | 20,080
28 Feb 2015 #10
I agree. These were risky financial instruments on a par with derivative trading. If the OP is interested in taking part in a class action I wish him luck. Not so much on behalf of the buy-to-letters getting risky mortgages on real estate they want to make a profit on, but for those ordinary homeowners who were seduced by mortgage brokers wanting their commission and bank sales staff with targets.

The Financial Times called the Polish Swiss Franc Mortgage Fiasco an "act of collective insanity". It may be possible to force the banks to do something, especially if there's a political will to do so, however going through the courts in Poland always takes a long, long time. I do wish the OP well though.
1 Mar 2015 #11
Any variable rate mortage could be claimed to be derivative as its a gamble on a countrys economic performance, not property. Interest rates can double overnight, ask the Russians for example.

CHF mortages look bad value now, but for a long time they were a bargain, no fancy sales technique required to persuade people to take them.

If fact I'm pretty sure people would have rioted if yountold them were not sophisticated enough to get a mortgage that cost half the amount of the idiots mortgage.
OP polishmortgages 7 | 36
5 Mar 2015 #12

in my post above I wrote some art. from civil law referring to mortgages. Now I am want to build a group 100 customers from GNB and sue GNB.

So far without advertising I have 21 but I next week information about it will be on my web page and I will be able to write more details.

as I mention above this post is only for CHF borrowers that is why I will not reply for some post. it is no point.

kind regards
8 Mar 2015 #13

I have two Polish mortgage in CHF from GNB and would be happy to join in your appeal as I am not able to sell the properties with negative equity and financially devastating for me. Tim
OP polishmortgages 7 | 36
8 Mar 2015 #14
TimO, Write me and I will send you more information.

kind regards
cms 9 | 1,255
9 Mar 2015 #15
I see a similar case was dismissed by the court in Warsaw today. Probably the right decision.
sobieski 107 | 2,128
9 Mar 2015 #16
When you took that mortgage years ago, you realized and knew perfectly this was not a scam but a calculated risk. It was not a pyramid scheme. Currencies go up and down. If you would have taken a mortgage in PLN, that would have be at that time more expensive, but in the long run stable.

Greed is not a good adviser.
jon357 71 | 20,080
9 Mar 2015 #17
And now speculators want to be compensated - doubtless at the indirect expense of the more sensible and less greedy.

I do feel sympathy though for those who wanted to buy a home to they live in and could only afford the cheapest mortgages. For property speculators I have a question. AstraZeneca shares have just fallen in value - do you think the stockbroker should be forced in the courts to exchange them for GlaxoSmithkline shares?
9 Mar 2015 #18
That's exactly my feeling too. Although in some of the cases one reads about borrowers were borrowing silly amounts of money to buy properties that were clearly out of their reach. I read recently about a state school teacher in Warsaw who took out a 110% mortgage to buy a 120-metre flat (I think in Bemowo) and is now trying to sue the bank which lent her the money. Madness.
Bip - | 1
22 Dec 2015 #19
Not everybody that borrowed are rich investors as you seem to assume and you don't specify your interest in all your negative comments.
PropertyMngWawa - | 9
3 Apr 2020 #20

help in CHF mortgages


I wonder if there would be interested persons in a dispute with banks regarding CHF loans. especially against Getin Noble bank, which is my "favorite" bank
cms neuf - | 1,957
3 Apr 2020 #21
If you google there are already many class action suits about CHF mortgages, none of which have been successful. The president also tried to get involved but gave it up as a bad job.
PropertyMngWawa - | 9
3 Apr 2020 #22
@cms neuf
You are wrong a little, just use a google to see the increasing number of trials, especially individual cases in which the court decides in favor of clients in higher and higher instances. Polish customers using this option is mass, and I just wonder what about the rest of clients / foreigners. I just want to create the first group of such clients, about 10-20 people, especially against getin noble bank.
cms neuf - | 1,957
3 Apr 2020 #23
I didn't know that but have they seen any cash yet ? I would be surprised but will research it a bit more. Can you send me some links.
PropertyMngWawa - | 9
4 Apr 2020 #24
all the information is in Polish, and It can't help you. if you have a loan, you can send me a contract and I will send it for analysis, it is free
cms neuf - | 1,957
4 Apr 2020 #25
No I am only casually interested - I never took any credits in Franks. I have a long experience in finance and knew this was not a sensible idea.
jon357 71 | 20,080
4 Apr 2020 #26
The idea of taking out credit in a foreign currency you don't have was frankly insane, somethong not to do unless you're very rich. In which case it's just deeply unwise. It is bizarre to expect greed and stupidity to be compensated.

Looks like the situation will get worse with inflation and the way the zloty is heading.
PropertyMngWawa - | 9
4 Apr 2020 #27
Unfortunately everyone is smart but years later. Now there is a chance to get rid of it, but there won't be a lot of time, because soon some issues will expire, such as insurances which was "obligatory"
jon357 71 | 20,080
4 Apr 2020 #28
Unfortunately everyone is smart but years later.

Most people were smart enough at the time and not greedy.

but there won't be a lot of time,

There should be zero time. As the Financial Times said, it was an act of collective stupidity. At the time, a few people I know said I was daft not to get such a mortgage; they are the one's now eating catfood.
Cargo pants 3 | 1,333
4 Apr 2020 #29
I remember Noble Bank offering 120% loan on the property value.But only idiots took took it without thinking that its a trap by the bank.I cant believe people didnt think that they have to pay back also.
PropertyMngWawa - | 9
4 Apr 2020 #30
Gentlemens, if you have any constructive information referring how you can get rid of mortgage in chf please share it.
if the only thing you want to do is mock someone please go somewhere else

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