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Co-operative Bank Financial Advisers Limited

Financial Ombudsman decision DRN8623633 Not upheld

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, Treatment in financial difficulty

In the Ombudsman’s words

Mr Y complains that The Co-operative Bank Plc. (trading as Britannia) should not have allowed him to take out an interest only mortgage, and should not have extended the term of the mortgage beyond his normal retirement age.Irresponsible lending

He also says that Britannia should have done more to reach an agreement with him regarding the arrears on the mortgage and the mortgage payments going forward.Treatment in financial difficulty

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN8623633.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.