Clydesdale Bank Plc
Financial Ombudsman decision DRN3131072 Not upheld
Not upheldoutcome, as published by the Ombudsman
—no sum stated
Sat Jan 12deadline 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, Mortgage administration
In the Ombudsman’s words
An interest only mortgage shouldn't be offered when there's been no assessment of affordability or an agreed repayment plan – that isn't responsible lending.Irresponsible lending
Clydesdale said the offer made in March was issued in error as it was an offer of a new mortgage on an entirely interest only basis.Mortgage administration
Source
This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN3131072.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.