Repayment Mortgage Decision Reference 2022-0278

• Case Outcome: Rejected
• Reference: 2022-0278
• Date: 22 August 2022
• Year: 2022
• Subject Matter: Repayment Mortgage
• Finantial Sector: Banking
• Conducts Complained Of: Failure to process instructions,Complaint handling (Consumer Protection Code) , Delayed or inadequate communication, Failure to process instructions in a timely manner, Failure to release security

Decision Ref:

2022-0278

Sector:

Banking

Product / Service:

Repayment Mortgage

Conduct(s) complained of:

Failure to process instructions

Delayed or inadequate communication

Complaint handling (Consumer Protection Code)

Failure to process instructions in a timely manner

Failure to release security

Outcome:

Rejected

LEGALLY BINDING DECISION OF THE FINANCIAL SERVICES AND PENSIONS OMBUDSMAN

The complaint arises from a delay in returning the title deeds of a property. The

Complainants’ borrowing was previously owned by a third-party lender and ownership was

transferred to the Provider in February 2019. The Provider uses the services of a credit

servicing firm whose actions in this decision, are referred to as those of the Provider.

The Complainants’ Case

The Complainants state that they contacted the Provider on 13 March 2019 with a view to

resolving any outstanding issues and balances at that time. The Complainants say that they

put the property on the market to sell and achieved a purchase price of €165,000 on 28th

August 2019, which would have cleared the outstanding balance on their mortgage account.

On 11th March 2019 and 28th August 2019 the Complainants’ Solicitor contacted the

Provider to request the title deeds be issued on Accountable Trust Receipt (“ATR”).

The Complainants’ Solicitor wrote to the Provider on 6th February 2020 requesting it again

to issue the title deeds by ATR. The Complainants submit that at this time, the sale of the

property had been lost. The Complainants state that they did not get any response to their

request until they received a letter dated 13th February 2020 from the Provider stating that

it was investigating the complaint raised.