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Gatehouse Bank Plc

Financial Ombudsman decision DRN-5780799 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

Charges and fees, Product mis-sold

In the Ombudsman’s words

Unhappy that this was not explained to them sooner, Mr K and Mrs B complained. Gatehouse didn’t uphold the complaint. It said that it’s under no obligation to provide tax advice and it said that information about potential tax implication was given at the correct stage of the process. Concerned about the potential tax liability involved in the transaction, Mr K and Mrs B didn’t go ahead with their remortgage application. They’re unhappy that they’ve lost out on the non-refundable fees paid.Charges and fees

Mr K and Mrs B complain that they were sold a Sharia (Islamic) mortgage by Gatehouse Bank Plc without being fully informed from the outset about the possible tax implications involved in the transaction.Product mis-sold

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-5780799.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.