Lloyds Bank PLC

Financial Ombudsman decision DRN-4372157 Upheld

Upheldoutcome, as published by the Ombudsman

£300redress stated in the decision

Wed May 08deadline 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

He eventually had to agree an interest rate of 8.39%, when it could have been around 6% if Lloyds had acted more quickly.Interest and rates

Mr C, a sole trader, complains that Lloyds Bank Plc’s delays in arranging a new fixed rate means he is now paying more interest on a loan than he should be.Mortgage administration

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-4372157.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.