NRAM Limited

Financial Ombudsman decision DRN0899637 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

Irresponsible lending, Treatment in financial difficulty

In the Ombudsman’s words

it couldn’t agree to that given Mr G’s financial position at the time of the request. I note that if NRAM had increased the mortgage balance then Mr G would have had to make larger monthly payments, at a time when he had told NRAM he actually wanted to reduce his payments because of his financial position. Although Mr G’s mortgage is on a buy to let property - so he doesn’t risk losing his home if he is unable to repay the mortgage debt - NRAM is still obliged to lend responsibly.Irresponsible lending

Mr G complains that NRAM plc didn’t agree to reduce his mortgage payments temporarilyTreatment in financial difficulty

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN0899637.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.