Lloyds Bank PLC

Financial Ombudsman decision DRN2253788 Upheld

Upheldoutcome, as published by the Ombudsman

—no sum stated

Thu Jul 18deadline 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, Product mis-sold

In the Ombudsman’s words

the bank didn’t adequately explain how large the ‘break costs’ might be if the loan were repaid while the interest rate was fixedInterest and rates

complain that Lloyds Bank PLC mis-sold them two fixed rate commercial loansProduct mis-sold

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN2253788.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.