veryworried

Thank you again, all, especially Pickles.  The cynic in me wonders if the business of the "Advisor" went into liquidation because of the current situation, and had jumped on the band wagon in 2007.  Why liquidation of the company?  Is there any reason apart from the current financial situation?  Advisor is not the right word.  As I've said before, we're not gamblers, naturally cautious people, but were not warned about the implications of this mortgage, and rather stupidly saw no reason to question his knowledge (knowlege, I know, is not the right word).  I'm hoping we can come to some arrangement with the bank as we have a steady income coming in, and my business is doing well right now.  Wish me luck, and I appreciate everyone's thoughts on this horrible situation.

We're nearly at the end of a 5 year fixed rate interest only mortgage, and yes, it was only 18 months after it started creeping up by the hundreds every month.  Yes, I think we were very badly advised, given the mortgage broker was fully aware of our limitations.  We have never been in a position to take risks.  Unfortunately he seems to have disappeared off the face of the earth, and his company or the one he worked for has gone into liquidation.  It was a French company based in Geneva.  Thank you Pickles for both your replies and also to others.

Thank you for all your responses.  My husband and I both earn in sterling.  We have never been gamblers - we are certainly not and never have been driven by greed and have always just wanted to be able to manage our finances.  Nothing more.  Simply, we had not expected that after 18 months are mortgage would have risen so very highly.  It is now 150% more than it was originally.  We had, obviously, taken the advice of a mortgage broker, and yes, it is completely our own fault, - as its been pointed out  -and we have not been very wise.   

Has anyone else suffered huge problems due to taking out a Swiss mortgage on a French property?  We're now in an uneviable position, and I wondered if this was a widespread problem in France where borrowers were simply not warned of the true risks, or advised to take out plans to cover the currency fluctuations.