We represent clients – natural persons – in legal disputes arising from agreements on mortgage loans indexed to or denominated in the Swiss Franc.
What kind of agreement are we talking about?
In the case of the denominated loan, the sought amount specified in the Polish Zloty is converted, as an estimate, and quoted in the Swiss Franc. As at the day of signing the agreement, the amount of the loan is not known. The Client pays back the loan in Polish zloty, installments are converted from Swiss Francs into the zloty at the sell rate.
We are dealing with an indexed loan when the bank disburses the loan in the Polish Zloty but converts it at the buy rate of the Swiss Franc. The installment is calculated in the Swiss Franc while the due day is the day it is converted into the Polish zloty at the bank’s currency sell rate.
What does it mean for the borrower?
In the foregoing agreements – indexed and denominated ones, different measures are applied to specify the value of mutual liabilities of the borrower and the bank. Most often, the bank’s liabilities are converted at an exchange rate more beneficial than that used for converting the borrower’s liabilities. Such mechanisms are most often based on contractual provisions included in the list of abusive clauses (prohibited contractual provisions), kept by the Consumer and Competition Protection Office. Hence, they have no binding power on the borrowers-consumers, and in the majority of cases, they represent the basis to effectively claim overpayments.
Prescription of the Swiss Franc installments
Though the lawmaker has shortened the prescription period, for the installments repaid before the act was passed the period continues to be 10 years.
What can we do?
Possible solutions depend on the type of the loan agreement and its annexes. Depending on the situation it may be possible to invalidate the loan agreement or to convert the Swiss Franc loan to the Polish Zloty.
Our advisory includes:
- Preliminary, free of charge analysis of the agreement and annexes along with the estimation of the claimable value of overpayments along with the recommendation as to the further course of proceedings – invalidation or conversion of the agreement to the Polish Zloty.
- Detailed calculation of overpayments in the form of a report. We cooperate with the financial analyst in this respect.
- Definition of an individually selected strategy.
- Representation at all the stages of proceedings, starting with the pre-court stage (a request for the bank to perform the agreement adequately, interruption of the limitation (prescription) period, cease of installment payments by the client), through the preparation and submission of a lawsuit as well as representation before all the courts during the litigation processes.
- Support in making the bank act on the court’s ruling, e.g. reimbursement of the amount as specified, modification of the repayment schedule, execution actions.
To receive a free of charge analysis of the agreement along with the estimated amount of the overpayment, please fill in the form below or send the scan of the agreements along with the annexes to the address: biuro@sobczynski.com.pl
