HSBC UK Bank Plc
Financial Ombudsman decision DRN-3311618 Not upheld
Not upheldoutcome, as published by the Ombudsman
—no sum stated
Fri Mar 25deadline 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
Irresponsible lending, Mortgage administration
In the Ombudsman’s words
HSBC has a duty to ensure it is lending responsibly to all of its customers, and a switch from interest only to repayment would significantly increase the monthly cost of the mortgage.Irresponsible lending
Mr G complains that HSBC UK Bank Plc gave him incorrect information about his mortgage when he switched it to interest only.Mortgage administration
Source
This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-3311618.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.