Lloyds Bank PLC

Financial Ombudsman decision DRN0249015 Not upheld

Not upheldoutcome, as published by the Ombudsman

£500redress stated in the decision

—deadline 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, Service failure

In the Ombudsman’s words

The business experienced difficulties and the loan repayments fell into arrears.Treatment in financial difficulty

Lloyds, by failing to point out that financial difficulties would be inevitable when the interest only period expired, caused Mr M a great deal of additional distress.Service failure

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN0249015.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.