Lendable Ltd

Financial Ombudsman decision DRN-6087158 Not upheld

Not upheldoutcome, as published by the Ombudsman

—no sum stated

Thu Feb 19deadline 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

Charges and fees, Mortgage administration

In the Ombudsman’s words

Late payment interest If you fail to pay any sum due under this agreement on time, we may charge daily interest on that sum at the fixed rate of interest, as stated above from the due date of payment up until the actual date of payment (both before and after any court judgment that we may obtain). Missing payments Missing payments means the total cost of the debt could grow.”Charges and fees

They were operating differently than other finance providers and adding arrears to new monthly instalments which he said made it difficult to understand what was going on.Mortgage administration

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-6087158.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.