Mortgages Plc

Financial Ombudsman decision DRN-3148999 Not upheld

Not upheldoutcome, as published by the Ombudsman

—no sum stated

Tue Jan 04deadline to accept (not the decision date)

The Ombudsman does not print a decision date. The date above is the deadline the consumer was given to accept or reject the decision, which is set about a month after it was issued. It is reliable to the year, not to the month.

What this decision was about

Product mis-sold, Mortgage administration

In the Ombudsman’s words

Mr and Mrs M complain that Mortgages plc advised them to take an interest-only mortgage in 2008. They say it didn’t warn them about the risks of having a mortgage on that basis, or assess how they would repay the capital at the end of the term.Product mis-sold

In 2008, the mortgage was changed so it was paid on an interest-only basis.Mortgage administration

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-3148999.pdf on financial-ombudsman.org.uk.

The outcome shown is the Ombudsman’s own published classification, not our reading of the text. Nothing here is legal advice, and a decision concerns only the complaint it was made about.