Have you taken out a mortgage in yen or Swiss francs and now owe more money than when you hired it?
All those affected by having contracted a multi-currency mortgage have RIGHT to CLAIM against the bank in order to cancel the multi-currency clause in this mortgage, recalculate the loan as if a mortgage in euros had been contracted from the beginning and proceed to the return of the amounts overpaid.
Why do you have the right to CLAIM?
Because, as our courts say, the entities did not warn customers that this was a complex financial product not suitable for individuals and because the duty of information, transparency and diligence imposed by the famous MIFID Directive in force following the amendments introduced by Law No 47/2007 of 19 December, which transposed European Directive 2004/39 / EC.
What are your chances of getting your money back?
Many! Since from the recent sentence of the Supreme Court dated 06/30/2015, which in paragraph 7 of section 7, states:
"The Chamber considers that the" multi-currency mortgage "is, as a loan, a financial instrument. It is also a derivative financial instrument in that the quantification of the obligation of one of the parties to the contract (payment of loan repayment installments and calculation of the capital to be amortized) depends on the amount that reaches another value different, called underlying asset, which in this case is a foreign currency. As a derivative financial instrument related to currencies, it is included in the scope of the Securities Market Law in accordance with the provisions of art. 2.2 of that law. And it is a complex financial instrument under the provisions of art. 79.bis.8 of the Securities Market Law, in relation to art. 2.2 of said law. "
The majority of judges and courts are ruling in favor of consumers
