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First Holiday Finance Limited

Financial Ombudsman decision DRN-5633670 Upheld

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, Product mis-sold

In the Ombudsman’s words

I concluded that the credit relationship between Mr and Mrs R and the Lender had been rendered unfair under Section 140A of the CCA.Irresponsible lending

The Supplier, in breach of Regulation 14(3) of the Timeshare, Holiday Products, Resale and Exchange Contracts Regulations 2010 (the ‘Timeshare Regulations’), had marketed and sold the Fractional Club membership to Mr and Mrs R as an investment.Product mis-sold

Rules cited

Consumer Credit Act 1974, FCA DISP (Dispute Resolution)

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-5633670.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.