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Currency transaction

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Icon Mini Profile ggoodwin





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Post Posted: Mon Feb 02, 2009 1:41 am    Post subject: Currency transaction
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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
Icon Mini Profile sara
sara
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Post Posted: Mon Feb 02, 2009 2:45 am    Post subject:
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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

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Post Posted: Wed Aug 10, 2011 12:14 am    Post subject: GVcQOgndBeKK
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Yup, that sholud defo do the trick!
Icon Mini Profile sabrinatoss
sabrinatoss
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Post Posted: Wed Aug 10, 2011 1:05 am    Post subject: hi ggoodwin !
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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.
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