One year after the 9 July 2025 rulings on Swiss franc loans.

On 9 July 2025, the First Civil Chamber of the French Cour de cassation published two rulings on Swiss franc mortgages. They concern borrowers paid in Swiss francs, whom the case law had excluded until then. This case law is recent and liable to change.

Mortgages exposed to the Swiss franc.

Between 2002 and 2015, banks offered French borrowers mortgages indexed to the Swiss franc or repayable in Swiss francs. The borrowers included cross‑border workers and buy‑to‑let investors. The loan looked attractive, with rates tied to a currency seen as stable.

The Swiss franc then rose durably against the euro, and the instalments increased. For some borrowers, the outstanding capital, converted into euros, even grew while they were repaying.

The litigation turns on two points: whether certain clauses are unfair, and the information given about the exchange‑rate risk at signing. Depending on the case, a clause can be deemed unwritten, with financial consequences calculated case by case.

From the CJEU to the Cour de cassation.

On 10 June 2021, the Court of Justice of the European Union (CJEU) delivered several judgments on foreign currency loans. They are case C-609/19 and joined cases C-776/19 to C-782/19. The Court set out the transparency required on exchange‑rate risk and how the imbalance between the parties is assessed. It also held that no time limit applies to a claim to have a term declared unfair. We have published an analysis of these judgments.

The Cour de cassation then built its case law step by step. Its two rulings of 9 July 2025 (no. 24-19.647 and no. 24-18.018) are the latest step. They assess the exchange‑rate risk over the whole term of the contract, even for a borrower paid in Swiss francs. In one of the two cases, however, the Court dismissed the appeal, because the bank had informed the borrower clearly. This case law is recent and liable to change. Our review of the 2022-2025 rulings covers each decision.

Who is concerned.

Hello Justice’s Swiss franc loan programme covers loans taken out between 2002 and 2015. We estimate the number of eligible cases in France at around 50,000, with an estimated average loss of around €180,000. The limitation period, meaning the time limit for bringing a claim, runs until 2030, and how it applies depends on each case.

These cases form a series, with the same type of contract, the same legal questions and the same documents. We explain this idea in our article on serial litigation.

Each situation nevertheless remains specific. A specialised partner lawyer analyses the eligibility of each case on the documents. The review covers the characteristics of the dispute, limitation, the completeness of the documents and the reasonable chances of success. Not every case is accepted.

The time limit for bringing a claim.

The limitation period depends on the legal basis relied on and the circumstances of each case. Preparing a case takes time. You need to find the loan offer, the amortisation schedule, any amendments and your correspondence with the bank. The case must then be analysed and the agreement signed.

Starting early leaves time to gather the documents before a claim becomes time‑barred.

Preparing a case.

The programme organises the preparation of your case online.

1. The eligibility test places the loan: year taken out, currency, type of transaction.
2. You file your documents following a list specific to this litigation: loan offer, amortisation schedule, amendments, correspondence.
3. A specialised partner lawyer analyses the complete case.
4. If the case is accepted, you sign the agreement, which sets the terms of the proceedings.

Reviewing your case costs you nothing. Hello Justice covers the flat fees of COGEP AVOCATS (€5,000). Costs and disbursements remain capped at €300 including VAT. If the case succeeds, a success fee of 14% including VAT, shared between the lawyer and Hello Justice, is taken from the sums actually recovered. If it fails, you owe Hello Justice nothing.

What the past year shows.

Each case benefits from the experience gained on the previous ones, from the documents to gather to the pleadings.

Reaching borrowers remains a difficulty. Many do not know that their contract falls within the period concerned.

The case law keeps evolving. Each new decision clarifies the reach of the rulings of 9 July 2025, recent case law, liable to change.

Frequent questions.

Is my loan concerned?

The reference period covers loans taken out between 2002 and 2015, indexed to or repayable in Swiss francs. The programme’s eligibility test places your contract. A specialised partner lawyer then analyses the eligibility of your case.

Until when can I act?

The limitation period runs until 2030, and how it applies depends on each case. It is better to have your case analysed early. In this programme, reviewing your case costs you nothing and commits you to nothing.

What do the proceedings cost?

Hello Justice covers the flat fees of COGEP AVOCATS (€5,000). Costs and disbursements remain payable by you, capped at €300 including VAT. If the case succeeds, a success fee of 14% including VAT, shared between the lawyer and Hello Justice, is taken from the sums actually recovered. If it fails, you owe Hello Justice nothing. The process starts on the programme page.