Hi, I might be being a bit thick here but bear with me..... I now have a mortgage for a polish property by a polish bank in Swiss francs. Does anyone know the best way of paying this off - is it to a) Pay everything via polish zloty bank account in poland b) Open a swiss account and pay off that way I appreciate that the rent will obviously accrue in my polish zloty bank account but I was thinking that currency comversion may become an issue on a monthly basis. I may have just competely missed the trick in which case I apologise Best Wishes Martin

You pay your bank in PLN, they do the PLN ==> CHF conversion. I overpay slightly in PLN each month to take into account fluctuations in the PLN / CHF exchange rate. Welcome to the world of currency exchange risk !! You've exchanged a lower interest rate for a more unpredictable monthly payment. The alternative would have been a higher PLN interest rate but a fixed PLN monthly payment. Andrew

I guess to find out what kind of risk one is taking in this kind of set up, it may be interesting to find a short term historical chart of what the PLN has done against the CHF. Does anyone know where one can find this information? I know that this means not much with regards the future as no one knows what is going to happen tomorrow, but it may help.

I hear that the maximum Swiss Franc loan to value is 50%. Is this correct? Cheers.

Hi Tom, I got a 85% LTV repayment mortgage from a Polish Bank called Noble over 30 years. I obtained this through Open Finance who were suggested by Property Secrets Bye

Hi Mac, try this link: http: / /www .oanda .com /convert /fxhistory Bye

Martin, Whilst I do not know the details of your mortgage, I have a similar product. With mine I have to pay it off in PLN. I do the conversion mentally myself, and a bit on and then make the transfer. I do not believe that you can pay it off in CHF. Hope this helps

Hi

I am about to take out a CHF mortgage I could not get a straight answer out of Noble bank about the exchange rate they charge for changing from PLN to CHF to make monthly monthly mortage payments . I would be very interested in your experience. I note they are very keen that I take out CHF instead of PLN so there must be something in it for them ?

Regards

Paul

I also used Open Finance, and set up a CHF mortgage. Wojciech Gawol has been great, and speaks pretty good English, and is always online during the day, so you can get answers very quick. Just ensure that you send him all the correct paper work in one hit.

Chris.

I am at a similar stage and just about to go with Noble.

There is no commission fee for a CHF rate mortgage and no explicit currency charge.

A polish correspondence address is a must - is this where the PLS service comes into its own or is there some cheaper and more efficient way around this?

They don't have internet banking yet.


Regards

Sanj