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  #21  
Old 26.05.2020, 15:01
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Re: Double expected termination charge on Mortgage due to negative interest rates

No I bought the place in Valais as I was leaving CH to have an apartment to visit in the mountains. Originally they thought I was moving there from Geneva and offered me, I think, 90% mortgage but then their compliance department came back and said they could only consider this a secondary property and therefore I would need to put down more. They were not aware at the time I was leaving the country, they just decided that for themselves and were not flexible.
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Old 26.05.2020, 19:52
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Re: Double expected early termination charge on fixed rate Mortgage

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I went through the complaint process with the Ombudsman. They are very friendly and understanding of the issue. Other than the initial submission of evidence relating to the case, they do everything by post, so it all went pretty slowly. Finally they came back to me to say that despite their disagreement with CS regarding this negative interest charge they could not do more and that CS were inflexible on this issue. I thought that was the end of it but it was not. About a month after receiving the letter to say the case was now closed, the Ombudsman called me and informed me that CS had now come back to them to confirm that in this case they were incorrect and therefore would make a full refund of the negative charge. I then received anther letter asking for my bank details. I had closed my cs account already. I am now awaiting the payment. It was worth the hassle apparently.
Well bully for You !!
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Old 16.07.2020, 08:27
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Re: Double expected termination charge on Mortgage due to negative interest rates

Just to close this off. I finally received the refunded payment from CS. They paid out an amount equivalent to the portion of the redemption charge attributed to the negative rate.
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  #24  
Old 16.07.2020, 10:59
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Re: Double expected termination charge on Mortgage due to negative interest rates

I believe I was charge the negative on my early mortgage closure back in 2017. I can ask for the penalty calculation. Does anyone know if I can claim the extra charge?

Thank you.
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Old 16.07.2020, 15:49
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Re: Double expected termination charge on Mortgage due to negative interest rates

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I believe I was charge the negative on my early mortgage closure back in 2017. I can ask for the penalty calculation. Does anyone know if I can claim the extra charge?

Thank you.
Give it a try. You've nothing to lose!
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banking fees, mortgage contract, mortgage rates, negative rates, termination tips




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