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Mortgage complaint to ombudsman does not warrant adjournment of loan agreement proceedings
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The High Court refused to grant an adjournment requested by the defendants based on a pending complaint to the Financial Services and Pensions Ombudsman (FSPO) regarding alleged unfair mortgage terms. The court emphasised that the proceedings, which sought a liquidated sum on a loan agreement, had been ongoing for nearly two years, and the complaint to the FSPO was only recently initiated and not yet submitted. The court found that granting an adjournment would undermine the public interest in the efficient conduct of litigation and result in the wastage of court resources. Consequently, the plaintiff was entitled to proceed with their application for a liquidated sum.
High Court, adjournment, Financial Services and Pensions Ombudsman (FSPO), unfair mortgage terms, loan agreement, liquidated sum, efficient conduct of litigation, court resources, s. 49 of the Financial Services and Pensions Ombudsman Act 2017 (FSPO Act 2017), stay of proceedings, complaint submission, public interest.
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