National Westminster Bank Plc

Financial Ombudsman decision DRN0826439 Not upheld

Not upheldoutcome, as published by the Ombudsman

—no sum stated

Mon Jan 15deadline 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

In the Ombudsman’s words

The issue in Mr and Mrs F’s case is that after the mortgage was originally taken out, the mortgage rules changed. This meant lenders became more conservative in their lending, which made it difficult for Mr and Mrs F to get a new product as neither were working and the mortgage was being paid from the rental income. In 2011, I can see the amount owed under the mortgage was reduced, but there was only one buy-to-let rate cheaper than the SVR in 2011. All the others were higher than the SVR, though as time passed over the years, this changed.Interest and rates

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN0826439.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.