An additional clause that you can claim to your bank successfully. Recover what you overpaid and request a mortgage in euros.
The multi currency mortgage is a mortgage loan contracted with your bank in a foreign currency. This type of mortgage is referenced by the Libor and not by the Euribor as happens with the mortgages in euros.
If you have a mortgage in foreign currencies, i.e. a currency different from the euro, it implies that the monthly payments of your mortgage will vary depending on the fluctuations of the chosen currency, thus it will also vary the total amount of debt you have with the bank.
The main risk of this type of financial product is that the total debt contracted will increase exponentially when the foreign currency rate increases.
Our advice: If you have a multi currency mortgage… claim!
Claim your multicurrency mortgage
Yes, you can, and you must claim. If your bank did not inform you in a clear and comprehensive way about the risks and consequences of this type of loan, then you can claim.
By answering a few questions, you will know if you are eligible to claim (and receive that extra pocket money).
Contact us! We will review your documentation free of charge and calculate the claimable amount. Once the viability of your case is confirmed, we will request your bank to change your mortgage to euros. Also, we will demand the reimburse of the amounts charged through the time the mortgage has been effective.
If your bank offers you an agreement, we recommend not to sign any document without consulting with us first.
You need the advice of a professional who looks after your best interest. If you accept the bank agreement, you waive a large part of the claim.
1. Answer some simple questions.
2. An advisor will contact you to let you know how much you can claim.
Before you start claiming, you may need to clarify the questions that arise on your multi currency mortgage. We can help you find all the answers in our multi currency mortgage help Centre.
On November 15th, 2017, the Supreme Court ruled in relation to multi currency mortgages granting a partial nullity. This clause has been considered abusive because of the lack of transparency and clarity. What this means is that if you are affected by this abusive clause, then your bank is obliged to change the current mortgage conditions.
You need to collect the following documentation so that the claim can follow its course:
You will recover your money back and you will reduce your monthly payments. It’s all benefits.