Forty people who contracted a mortgage in Swiss francs complained Thursday against BNP Paribas for "unfair business practice and misleading," saying they had been misinformed about the risks, officials said Friday their lawyer.
The 44 complaints "are currently under consideration" at the court in Nanterre, already seized 57 similar complaints originally filed with the court of Paris before being grouped in Nanterre, a judicial source said, confirming a report in Liberation.
Central to these complaints, the mortgage Helvet Realty designed by BNP Paribas Personal Finance and marketed from March 2008 to December 2009 to finance, for the vast majority of the 4,000 subscribers, the acquisition of a housing for the rent under the Robien tax provisions or Scellier.
This loan is made complex in Swiss francs by the bank, but repayable in euros. The amount of outstanding capital depends on the evolution of the Swiss franc against the euro. But with the rise of the Swiss franc, the cost of variable rate loan is gone, said plaintiffs' counsel, Mr. Charles Constantine Vallet.
BNP Paribas addition, fifty banking intermediaries (real estate, wealth management advisors, etc..) Who marketed this product, are affected by the complainants.
For me Constantine-Vallet, "the loan offer was incomprehensible to a newcomer especially as it contained elements of contradictory information. Never in platelets, it is clearly mentioned that this is speculative loans. "
"The plaintiffs have relied to a large majority of the expertise of intermediaries focused on the product properties, the loan will not appear until the end of the process and presented as the most competitive market" regrets the lawyer describing the "confusion" of its customers.
The BNP Paribas brand was "largely put forward to prove the seriousness of the credit supply," said Ms. Constantine-Vallet, citing complaints in the testimony of several middlemen claiming to have been abused themselves.
Questioned by AFP, BNP Paribas Personal Finance argued qu'Helvet Realty "had an interest at one time. Adverse and unexpected developments in exchange rate have meant that we stopped this product."
"The company was mobilized from the reversal in order to care for clients who could possibly find themselves in adverse situations," says she, saying she had "heart to treat all requests on a case by case ".
"We accompany our customers and in no circumstances leave them in this situation, they just need to contact us," she adds.
The bank also points out the existence of an "option contract" every three years or every five years, according to the contract: "To date, the customer can choose either to continue in Swiss francs, or switch to a contract in euro ".
According to her, "some customers prefer to stay in Swiss francs because they say it is not impossible that the exchange rate again become favorable." Apart from this possibility, the renegotiation on a case by case basis.
The 44 complaints "are currently under consideration" at the court in Nanterre, already seized 57 similar complaints originally filed with the court of Paris before being grouped in Nanterre, a judicial source said, confirming a report in Liberation.
Central to these complaints, the mortgage Helvet Realty designed by BNP Paribas Personal Finance and marketed from March 2008 to December 2009 to finance, for the vast majority of the 4,000 subscribers, the acquisition of a housing for the rent under the Robien tax provisions or Scellier.
This loan is made complex in Swiss francs by the bank, but repayable in euros. The amount of outstanding capital depends on the evolution of the Swiss franc against the euro. But with the rise of the Swiss franc, the cost of variable rate loan is gone, said plaintiffs' counsel, Mr. Charles Constantine Vallet.
BNP Paribas addition, fifty banking intermediaries (real estate, wealth management advisors, etc..) Who marketed this product, are affected by the complainants.
For me Constantine-Vallet, "the loan offer was incomprehensible to a newcomer especially as it contained elements of contradictory information. Never in platelets, it is clearly mentioned that this is speculative loans. "
"The plaintiffs have relied to a large majority of the expertise of intermediaries focused on the product properties, the loan will not appear until the end of the process and presented as the most competitive market" regrets the lawyer describing the "confusion" of its customers.
The BNP Paribas brand was "largely put forward to prove the seriousness of the credit supply," said Ms. Constantine-Vallet, citing complaints in the testimony of several middlemen claiming to have been abused themselves.
Questioned by AFP, BNP Paribas Personal Finance argued qu'Helvet Realty "had an interest at one time. Adverse and unexpected developments in exchange rate have meant that we stopped this product."
"The company was mobilized from the reversal in order to care for clients who could possibly find themselves in adverse situations," says she, saying she had "heart to treat all requests on a case by case ".
"We accompany our customers and in no circumstances leave them in this situation, they just need to contact us," she adds.
The bank also points out the existence of an "option contract" every three years or every five years, according to the contract: "To date, the customer can choose either to continue in Swiss francs, or switch to a contract in euro ".
According to her, "some customers prefer to stay in Swiss francs because they say it is not impossible that the exchange rate again become favorable." Apart from this possibility, the renegotiation on a case by case basis.
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