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| The following should be comforting news for folk with a Mortgage at the same bank as their savings though. According to the Tagesanzeiger on Monday, the bank cannot say "Bad luck chaps, you only get Fr.30,000.00 of the Fr.100,000.00 we were 'looking after' for you, and could you please give us the Fr.150,00.00 you still have outstanding on your mortgage." In the case of Bank Bankruptcy the one sum has to be set against the other. Mind you, I bet if it comes to it, the bank will find some small print which means that we have neither our savings nor the flat. | |
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however, i'm sure that this will be very easy to work around. let's say by the bankrupt bank selling the mortgage to someone else. this other party will still have claim to you through the mortgage they bought, but the original bank, may not have enough funds to pay you your deposit.