Firms › Mortgage Express ›

Mortgage Express

Financial Ombudsman decision DRN8761194 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

Treatment in financial difficulty, Complaint handling

In the Ombudsman’s words

ME did not treat his mortgage as a residential mortgage and therefore it was not subject to Mortgage Conduct of Business rules (‘MCOB’) – which came into force at the end of October 2004 (after the start of the mortgage). It failed to allow him to enter one of its hardship schemes and/or enable him to join one of his local council’s two hardship schemes.Treatment in financial difficulty

there does seem some confusion when ME implied that he might be eligible for its own forbearance scheme. Having a BTL mortgage made Mr L ineligible, whether for the local council or ME schemes, but ME did not clearly tell him this from the start.Complaint handling

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN8761194.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.