HSBC UK Bank Plc
Financial Ombudsman decision DRN7208705 Upheld
Upheldoutcome, as published by the Ombudsman
£500redress stated in the decision
Sun Sep 06deadline 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
Product mis-sold, Mortgage administration
In the Ombudsman’s words
Mr and Mrs A complain that HSBC mis-sold them an interest only mortgage as it didn’t disclose to them that it wouldn’t extend the term of the mortgage when it matured.Product mis-sold
In both cases Mr and Mrs A say that they were told that the term wouldn’t be extended but that a new repayment mortgage could be considered.Mortgage administration
Source
This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN7208705.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.