Ombudsman Ruling! Help?

halloweenscream

Hi, hoping there may be someone out their who could help.

On taking advice, I engaged a ombudsman to precide over my endownment short-fall taken out with Lloyds bank. Having waited well over 12 months for a decision, it was eventaully ruled in their favour.

Does anyone have any advice on whether I could still pursue this case after a ombudsman has been appointed, and subsequently ruled in the banks favour??

Tks

Mr_helpful

You point out the shortfall but poor performance is no grounds for complaint. Why do you think the ombudsman is wrong. How was the policy miss sold?

dunstonh

So, the bank have ruled against you and the ombudsman agrees with the bank. You can appeal the ombudsman's decision if you feel the reason for the refusal is unfair. Some do get overturned but you do need to be aware that the vast majority do not.

Lloyds Bank mostly sold unit linked endowments and their charges werent bad and the fund range quite good (for a bank). There is a good chance the endowment isnt that far off target now.

defender_of_the_weak

If it is only 12 months it sounds as though this is an adjudicators ruling. Check the bottom of the letter for job title. If it is an adjudicator then you can request a full ombudsman ruling (takes about 2 years) Ombudsman uphold rate is 33% so a 2-1 shot. Expect the adjudicator to get a bit snotty and try to persuade you not to proceed, many of them do not like having their judgement questioned.