READ YOUR MORTGAGE CONTRACTS

Currency change can in FACT void mortgages
Know what A mortgage is a legal agreement between a borrower and a lender, where the borrower uses their property as collateral to secure a loan.

The terms of a mortgage are governed by a contract, which outlines the rights and obligations of both parties.

If a bank changes the currency of a mortgage without the borrower's consent, it may be considered a breach of contract. This is because the borrower would have agreed to the terms of the mortgage in a specific currency, and any changes to the currency could affect their ability to repay the loan.

In contract law, a breach of contract occurs when one party fails to perform their obligations under the agreement. In this case, the bank may be in breach of contract by changing the currency of the mortgage without the borrower's consent. As a result, the borrower may have the right to void the mortgage and seek damages for any losses suffered as a result of the breach.