OneSavings Bank Plc
Financial Ombudsman decision DRN8014562 Upheld
Upheldoutcome, as published by the Ombudsman
—no sum stated
Sat Dec 22deadline 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, Mortgage administration
In the Ombudsman’s words
The interest rate had been increased on a number of occasions over the years – by the time of the court hearing in November 2013, it was 12.77%. And a higher interest rate means more interest charged to the loan – and so a higher monthly payment would be needed to pay everything back by the end of the term.Interest and rates
Mr and Mrs M complain about the amount that OneSavings Bank Plc (“OSB”) is requiring them to pay towards their secured loan account.Mortgage administration
Source
This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN8014562.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.