Not upheld: Account administration errors complaint against Mortgage Agency Services Number Two Limited
Financial Ombudsman decision DRN-9800124 of 2016-06-14T00:00:00+00:00. Account administration errors complaint against Mortgage Agency Services Number Two Limited. Outcome: Not upheld.
Decision detail
| Reference | DRN-9800124 |
|---|---|
| Decision date | 2016-06-14T00:00:00+00:00 |
| Firm | Mortgage Agency Services Number Two Limited |
| Product | Mortgage |
| Claim type | Account administration errors |
| Outcome | Not upheld |
| Remedy | £120 refund agreed by Verso (as recommended by adjudicator). No additional remedy ordered by ombudsman. |
Summary
Mr T complained that fees charged on his mortgage account by Verso were unfair. He had experienced payment difficulties leading to the application of fees and charges. Verso investigated and refunded £1,230 in 2015, and the FOS adjudicator recommended a further £120 refund, which Verso accepted. The ombudsman upheld the adjudicator's recommendation but did not uphold the broader complaint, finding that the remaining fees of approximately £1,370 were applied fairly in accordance with Verso's tariff and contractual terms and conditions.
The Ombudsman's reasoning
The ombudsman found that Verso applied fees in accordance with its tariff of charges and terms and conditions. The firm had already refunded £1,230 and agreed to refund a further £120 as recommended by the adjudicator. The ombudsman concluded that it was not unreasonable for Verso to apply the remaining charges in line with its contractual terms.
How this compares
| Group | Decisions | Uphold rate |
|---|---|---|
| Mortgage Agency Services Number Two Limited, all decisions | 5 | 40% |
| Account administration errors, all decisions | 25,844 | 25% |
| Mortgage, all decisions | 25,098 | 22% |
Source
Read the original decision on the Financial Ombudsman Service website