Spring Finance Limited

Financial Ombudsman decision DRN-4905783 Partly upheld

Partly upheldoutcome, as published by the Ombudsman

£150redress stated in the decision

Tue Oct 31deadline 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

Treatment in financial difficulty, Charges and fees

In the Ombudsman’s words

When we assess the charges that have been applied to a mortgage or loan in arrears, we look at costs relating to pursuing legal action to repossess a property as part of the administration of the arrears.Treatment in financial difficulty

Spring should refund the following charges, along with any interest they attracted up to when the loan was redeemed: 7 November 2023 £303.00 Legal fees 1 December 2023 £125.00 Monthly Default Management Charge 1 February 2024 £125.00 Monthly Default Management ChargeCharges and fees

Rules cited

Financial Services and Markets Act 2000

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-4905783.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.