Not upheld: Mortgage administration / arrears handling complaint against Topaz Finance Limited trading as Rosinca Mortgages

Decision detail

Summary

Mr L complained that Rosinca unlawfully increased his buy-to-let mortgage exit fee from £50 to £190 following a mortgage transfer in late 2025. He claimed he was told terms wouldn't change and that Rosinca deliberately hid the higher fee on the back of the tariff sheet. The ombudsman found that Rosinca's mortgage terms and conditions entitled it to apply and vary charges, and that the firm provided clear information about the new fee when it became responsible for the mortgage. The ombudsman rejected Mr L's arguments that the fee increase was unlawful or unfair, noting that lenders may vary fees in response to regulatory changes and increased administration costs. The complaint was not upheld.

The Ombudsman's reasoning

The ombudsman found that the mortgage terms and conditions entitled Rosinca to apply charges and vary them from time to time. The terms did not specify the amount of charges or state they would remain unchanged during the mortgage term. Rosinca provided clear information about the new exit fee when it became responsible for administering the mortgage. The ombudsman noted that lenders may need to vary fees in response to regulatory changes and market practice, and that administration costs likely increased since the mortgage was taken out in 2001. The placement of the fee on the back page was due to formatting constraints, not an attempt to hide it. The discrepancy regarding the previous lender's fee amount did not change the outcome.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website