NRAM Limited

Financial Ombudsman decision DRN0519273 Not upheld

Not upheldoutcome, as published by the Ombudsman

—no sum stated

—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, Interest and rates

In the Ombudsman’s words

But Mr B is in arrears on his main mortgage account, and wanted the redress applied to that account to reduce the arrears.Treatment in financial difficulty

The Act says that, in the event of a breach, the lender cannot charge interest on the loan for the duration of the breach.Interest and rates

Rules cited

Consumer Credit Act 1974

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN0519273.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.