Mortgage Express
Financial Ombudsman decision DRN8632346 Upheld
Upheldoutcome, as published by the Ombudsman
—no sum stated
Wed May 04deadline 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
Prior to June 2005, interest due on the account each month was collected in the next month’s payment. In June 2005 ME changed its system.Interest and rates
Mortgage Express (‘ME’) changed the way in which it dealt with the interest payments on their interest only mortgage without telling them.Mortgage administration
Source
This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN8632346.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.