The core issue of the man's 2021 complaint to the ombudsman is his allegation that he was mis-sold the loans, which he contends were inappropriate and unsuitable for him. Photograph: iStockA retired man has secured High Court permission to challenge the Financial Services and Pensions Ombudsman’s refusal to investigate his complaint over loans he claims he was mis-sold by AIB.
The money was borrowed for purposes including to acquire his family home, to refinance short-term debt and to refinance existing loans. It is on course to be fully paid by 2025. He claims that following a preliminary opinion of his complaint, the FSPO said in March 2023 that it could not investigate because he alleged fraud against the bank. He says he then withdrew the claim of fraud.
The action has been brought on grounds that the respondent failed to have regard for the binding requirements of EU law on unfair terms and is entitled to determine complaints involving allegations of breaches of the relevant directive.