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Northern Rock (Asset Management) plc
Financial Ombudsman decision DRN0773489 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
Interest and rates, Mortgage administration
In the Ombudsman’s words
Did not set out clearly that they would not be eligible for a ‘loyalty’ interest rate.Interest and rates
Has acted unfairly following a breach of the Consumer Credit Act 1974 by reducing the term of their loan, rather than giving them a choice as to how the redress should be paid.Mortgage administration
Rules cited
Source
This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN0773489.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.