Repayment Mortgage Decision Reference 2022-0117

• Case Outcome: Rejected
• Subject Matter: Repayment Mortgage
• Reference: 2022-0117
• Date: 04 April 2022
• Finantial Sector: Banking
• Conducts Complained Of: Failure to provide accurate account/balance information ,Errors in calculations, Failure to process instructions in a timely manner

Decision Ref:

2022-0117

Sector:

Banking

Product / Service:

Repayment Mortgage

Conduct(s) complained of:

Failure to provide accurate account/balance

information

Failure to process instructions in a timely manner

Errors in calculations

Outcome:

Rejected

LEGALLY BINDING DECISION OF THE FINANCIAL SERVICES AND PENSIONS OMBUDSMAN

This complaint concerns a mortgage account.

The Complainants’ Case

The Complainants contends that the Provider “ agreed to reinstate an overpayment of

€4,017.35 and apply to repayments due on the mortgage accounts” and that in its letter

dated 5th July 2019, it stated “that the overpayment is to be applied to repayments”.

The Complainants advise that they cannot however see this overpayment reflected on their

mortgage account statements.

The Complainants state that the Provider gave “a convoluted explanation” and:

“manipulated figures on the banks statement by increasing the loan balance on

account 3211**** by €2,667.00 on 24th July 2019, and reducing account number

4051**** by €2,667.00 on the same day so that this overpayment has a nil effect”.

The Complainants assert that “this type of manipulation of figures only benefits [the

Provider] and must be questionable on a number of levels”.