EU court ruling boosts hopes of Poles with foreign-currency mortgages

The European Union’s top court on Thursday issued a ruling that boosted the hopes of Poles who complain they were hit after they took out unfair foreign-currency mortgages.

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Hundreds of thousands of Polish families took out foreign-currency mortgages up until around 2010.

The removal of a fixed exchange rate against the euro by the Swiss central bank meant that monthly instalments for many Poles ballooned almost overnight, leaving them struggling to cope.

The Court of Justice of the European Union on Thursday gave the green light for contracts with unfair clauses to be annulled, public broadcaster Polish Radio’s IAR news agency reported.

The EU court added that it was up to Polish courts to make decisions on such cases.

More to follow

(pk)

Source: IAR