R5L Money programme today had a piece on Swiss Franc Cypriot mortgages; sample case of some Scottish bloke who got cold called (strike one!) some years ago to invest in Cypriot holiday apartments, he mentioned brochures showing communal gardens, pool, gym etc.
He bought two two bed apartments at £120k each, vendor company recommended he use their Cypriot legal firm (strike two!).
Cypriot legal firm recommended he get a Swiss Franc mortgage which he did (strike three!).
He's in the shit now, some mention of him receiving legal advice to stop paying mortgage, some kind of class action lawsuit is going on.
Anyway bank has told him they are coming for him for £380k in the next few months and he is shitting it they can take his UK property.
Presenter of programme and some adviser dissected his errors.
Car crash radio.