Connells agreed to accept the ombudsman's proposal.
It contacted the couple’s lender who said that if the application had been submitted in August the monthly payments would have been £1,719.
Article continues after advert
The monthly payment on Mr and Mrs G’s current mortgage is £1,803.57, a difference of £84.57.
Connells said that, over the fixed-rate period of 60 months the amount due would be £5,074.20, plus the £450 compensation.
A spokesperson for Connells told FTAdviser: “We have been happy to work with the ombudsman to reach a resolution as, on this occasion, unfortunately, a mistake has been made. Where issues arise we always work hard to learn from this and improve our service.”
jane.matthews@ft.com
Page 2 of 2
