multi-currency mortgages need advice

hongkongoceana

HI,
i have a multicurrency morgage CHF/GBR. We were basically tricked/talked into signing this morgage from a company called montpellier a few years ago (2008) when we unfortunatly didnt understand what we were signing.They adviced us there role would be to change the currency before the market dropped but they did no such thing.. Now we desperatly need advice but we dont know who to ask, given we have had a bad experience with this financial advice company. And over the years they have asked us to pay huge amounts into a pledge deposit account due to the LVT ratio being too low.

Now they are moving there lloyds branch from labuan/honkong to the UK and they want me to sign the loan account over to uk. They say on email the pledge deposit will be returned to me if i sign a consent form to move acc. But they also say they cannot confirm if they will ask for more pledge deposits in the future once the loan is transfered to uk. So i am concerned that perhaps i could be asked at anytime for a large sum of money.
Someone told me what the bank doing is illegal, so i wonder do i have a leg to stand on to refuse to pay the pledge deposit and only continue with principle and interest repayment? any advice greatly appreciated as they are pressurizing me to sign this consent letter asap before the end of this week. thank you for any advice, are there any professional services to advice in this matter aswell?

CKhalvashi

Where are you residing?

I have experience of foreign currency mortgages (different currency to what I was paid in), but only in Russia.

If residing in the UK, it may be necessary to refer this as a formal complaint, and go to FOS if not happy.

If elsewhere, can we have more details (where is the bank/property, and what national law was the loan taken out under), or we won't be able to help you.

My only advice for now, can be to seek legal advice.

hongkongoceana

HI, Thank you for your message. I am british but residing in malaysia and the morgage was taken out with the labuan branch

I think legal advice is a good option

thank you