As a homeowner, you may have already heard of the Kensington Mortgage Company. It is one of the leading mortgage providers in the country, catering to customers with different needs and circumstances. While the company is known for its competitive rates and flexible loan options, there are instances when disputes and grievances arise between the lender and borrower. This is where the Kensington Mortgage Company ombudsman comes in.
The ombudsman is an independent third party appointed by the Kensington Mortgage Company to resolve complaints and disputes that cannot be resolved by the lender’s internal complaints process. The role of the ombudsman is to provide a fair and impartial assessment of the situation and produce an outcome that is satisfactory to both parties.
The Kensington Mortgage Company ombudsman can be called upon when a customer feels that their complaint or dispute has not been handled adequately by the lender’s complaints department. It is essential to exhaust all other options first before escalating the issue to the ombudsman. This means that you must have already filed a complaint to the Kensington Mortgage Company and have been dissatisfied with the outcome. You have eight weeks to make a complaint to the ombudsman after the final response from the lender.
Once the complaint has been received by the ombudsman, they will investigate the situation and gather the relevant evidence to make a fair decision. The ombudsman has the power to require information from the Kensington Mortgage Company to resolve the complaint, as well as require the lender to take specific action if necessary.
The process of resolving a dispute through the Kensington Mortgage Company ombudsman is free of charge for the borrower. The lender pays for the ombudsman’s services, and the outcome of the investigation is binding, meaning that both parties must abide by it. The ombudsman’s report contains recommendations for the lender to rectify the situation.
The role of the ombudsman is to provide a fair and impartial assessment of the complaint, taking into consideration the rules and regulations set out by the Financial Conduct Authority (FCA). The ombudsman must act within the FCA’s guidelines, which requires them to make their decision based on what is fair and reasonable in the particular case.
The Kensington Mortgage Company ombudsman can help with the following types of complaints:
– Mis-selling of mortgage products
– Poor service or bad practice by the lender
– Issues with repayment of the mortgage
– Unfair or hidden fees and charges
– Inability to keep up with payments due to personal circumstances
– Breach of contractual terms
– Refused mortgage application
If you have a complaint or dispute with the Kensington Mortgage Company, it is essential to keep a record of all communication between yourself and the lender. This includes any phone conversations, emails, or letters. It is also beneficial to outline your complaint in writing, providing specific details of the situation and any evidence to support your claim.
The ombudsman process can be time-consuming, with investigations taking up to six months to complete. However, it is a crucial step in resolving your complaint fairly and impartially, giving you peace of mind and helping to avoid a potential legal dispute.
In summary, the Kensington Mortgage Company ombudsman is an impartial and independent third party that can assist in resolving complaints and disputes between borrowers and the lender. If you feel that your complaint has not been handled adequately by the Kensington Mortgage Company’s internal complaints process, you can escalate the issue to the ombudsman. The ombudsman’s role is to provide a fair and impartial assessment of the situation and make a binding decision that is satisfactory to both parties. The process is free of charge for the borrower, and the outcome is binding, meaning that both parties must adhere to it. It is essential to document all communication with the lender and outline your complaint in writing to ensure that the investigation is thorough and fair.
In conclusion, the Kensington Mortgage Company ombudsman provides an excellent system for resolving disputes and complaints between borrowers and the lender. The ombudsman’s role is to provide a fair and impartial assessment, based on what is reasonable and fair in the particular case. If you have a complaint or dispute with the Kensington Mortgage Company, it is essential to use the ombudsman as a last resort after exhausting all other options. Documentation is crucial, and outlining your complaint in writing will help to ensure a thorough and fair investigation.