Progressive Building Society

Financial Ombudsman decision DRN-3904104 Upheld

Upheldoutcome, as published by the Ombudsman

£200redress stated in the decision

Wed Feb 15deadline 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

Interest and rates, Mortgage administration

In the Ombudsman’s words

Miss L said her first mortgage offer was for £435.31 a month with an interest rate of 1.69% but she then had to accept the new offer of £514.66 a month at the rate of 2.79%.Interest and rates

Miss L complains that Progressive Building Society said, just after it issued a mortgage offer to her, that this offer could be extended towards the end of its three month validity period. But then it wouldn’t extend after all, and she had to take a mortgage at higher interest rates.Mortgage administration

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-3904104.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.