Not upheld: Service failures generally complaint against Stonebridge Mortgage Solutions Ltd

Decision detail

Summary

Mr L complained that Stonebridge Mortgage Solutions provided poor service after he paid a non-refundable £295 brokers fee, claiming his calls and messages went unanswered and his property purchase fell through as a result. Stonebridge's mortgage application on Mr L's behalf was declined on 28 January 2022 due to adverse credit on his file. The ombudsman found that Stonebridge acted promptly in researching alternative lenders and contacting Mr L when necessary to progress the application. The ombudsman concluded that the decline was due to the adverse credit, not service failures, and that Stonebridge provided the service it agreed to provide, so the complaint was not upheld.

The Ombudsman's reasoning

The ombudsman found that Stonebridge provided the service it agreed to provide under its terms of business - arranging a mortgage application on Mr L's behalf. The decline was due to adverse credit on Mr L's file, not due to any errors or delays by Stonebridge. Stonebridge acted promptly in looking for alternative lenders within two working days and contacted Mr L when necessary to progress the application. The reduction in contact after the fee was paid was a normal part of the application process, not a failure in service. Even if Stonebridge had been more responsive, it would not have changed the outcome as the adverse credit remained a barrier.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website