# Exchange rates....



## Madness (7 Feb 2019)

Any guidance please?

My mortgage has been deemed impacted. Standard R and C issued.......
My Argument is that exchange rates also had an impact on my outlays over the years and now when redress is issued its value is approx 20% less then what i paid sterling ..any thoughts?

Im refering to Euro and UKP.

M


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## Brendan Burgess (8 Feb 2019)

Your mortgage was in euro.

The redress will be in euro.

End of story, unless you had a sterling mortgage.

Brendan


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## Madness (8 Feb 2019)

But im out of pocket still with the overcharging?


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## RedOnion (8 Feb 2019)

What currency was the mortgage?
What currency was the redress?
What currency are your earnings in?


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## Madness (8 Feb 2019)

Euro mortgage euro redress. Earnings always UKP....


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## RedOnion (8 Feb 2019)

Well, FX has worked in your favour then?
Euro amount now converted back to GBP, is worth more than the GBP cost if the same Euro amount using an average FX rare since 2008 (i.e assuming the overcharge was made at regular intervals).


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## Madness (8 Feb 2019)

I take yr point....i need to do my maths!


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## Brendan Burgess (8 Feb 2019)

RedOnion said:


> Well, FX has worked in your favour then?



Hi Madness

I think you should give some of the redress back to the bank? 

Brendan


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