Tracker Mortgage Decision Reference 2021-0278

• Case Outcome: Partially upheld
• Reference: 2021-0278
• Date: 19 August 2021
• Year: 2021
• Subject Matter: Tracker Mortgage
• Conducts Complained Of: Level of contact or communications re. Arrears,Incorrect information sent to credit reference agency, Premature ceasing of arrears negotiations, Wrongful consideration of forbearance request
• Finantial Sector: Banking

Decision Ref:

2021-0278

Sector:

Banking

Product / Service:

Tracker Mortgage

Conduct(s) complained of:

Level of contact or communications re. Arrears

Incorrect information sent to credit reference

agency

Premature ceasing of arrears negotiations

Wrongful consideration of forbearance request

Outcome:

Partially upheld

LEGALLY BINDING DECISION

OF THE FINANCIAL SERVICES AND PENSIONS OMBUDSMAN

This complaint concerns the Provider’s management of the Complainants’ mortgage loans.

The Complainants’ Case

The Complainants submit that their mortgage loan is “currently subject to forbearance” and

is on an “interest only schedule” due to expire in 2021. The Complainants set out in their

submissions their application to the Provider to restructure one of their mortgages over a

twenty-year term. The Complainants submit that the Provider declined their proposal

without explaining why and issued a counter proposal in its place.

The Complainants set out the reasons for their dissatisfaction with the Provider’s counter

proposal in their submissions to this office and contend that they sought clarity from the

Provider without success. They submit that they were told by an agent of the Provider during

a call on 30 January 2020 that there may have been a misunderstanding on the part of the

underwriter and that “a reassessment would be carried out”. The Complainants submit that

they made a formal complaint to the Provider in order to avail of their “only course of

appeal”.