Posted on: 02nd Feb, 2009 12:41 am
I live in Poland and have taken out a mortgage in Swiss Francs on an Apartment. This was taken out when the exchange rate was just over 2 Pln/1 CHF. It is now approx 3Pln/1 CHF, so if I sell now ,having an interest only mortgage , my repayment to the mortgage bank would be approx 50% more than when I took it out.
Is it possible to mitigate this loss, and also what currency hedging is available on the market, to take out against a further weaking of the Swiss Franc against the Polish zlote.
Your reply would be much appreciated
Is it possible to mitigate this loss, and also what currency hedging is available on the market, to take out against a further weaking of the Swiss Franc against the Polish zlote.
Your reply would be much appreciated
Hi ggoodwin,
Welcome to the forums.
I guess you'll have to talk to your lender in this regard. Since you're paying off the loan, he may allow you to mitigate the loss to some extent.
Take Care
Welcome to the forums.
I guess you'll have to talk to your lender in this regard. Since you're paying off the loan, he may allow you to mitigate the loss to some extent.
Take Care
Yup, that sholud defo do the trick!
It is better to consult for a mortgage broker to help you out on your problem since you really have to discuss the specific details needed to come up with a best solution on your situation.
