Bank of Scotland Plc

Financial Ombudsman decision DRN8501989 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

Treatment in financial difficulty, Mortgage administration

In the Ombudsman’s words

The starting point here is that a lender is entitled to take reasonable steps to recover money it has lent in good faith. Where the lending is secured on land, the steps available to the lender include recovering its security (by way possession proceedings in court), selling it and applying the sale proceeds in reduction of the outstanding debt.Treatment in financial difficulty

Birmingham Midshires obtained a court order giving it possession of the mortgaged property. Mr K complains that Birmingham Midshires sold the property at a substantial shortfall (for which it holds him liable) instead of accepting his alternative proposal for building a new home on the plotMortgage administration

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN8501989.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.