Can a business customer make a complaint to the Ombudsman

DB74

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As per the title

Basically a business customer is looking to restructure a loan/mortgage, which would be to the benefit of both the customer and the bank (in the long run)

However the bank are only really interested in restructuring the loan for short-term gain to themselves. In fact their stance roughly translates as "we don't care if you are losing money because of this loan, we would rather see that happen than do anything to assist you"

The bank in question are insistent that any restructuring of any business loan can be a for a maximum term of 7 years, even if the loan in question is a mortgage with a property being used as security.

Is this something that can be referred to the Ombudsman?
 
A business with a turnover under €3m can refer a complaint to the Ombudsman.

But I am not sure if the Ombudsman would consider the type of complaint you are referring to. They don't second guess the bank's decision whether or not to provide credit and I imagine that this extends to the bank's commercial decision whether to restructure a mortgage or not.

Most complaints are about the bank's interpretation of the contract or agreement with the customer. The bank does not seem to be in breach of the contract - it's just that your client wants to change the contract. The bank is under no obligation to do so.
 
Thanks for that Brendan. That was my gut feeling but just wanted to check anyway.

The loan in question is a tracker-type mortgage where the proceeds were used to purchase a commercial property. The restructuring is for the customer to go interest-only for a period of time before reverting to annuity after say 5 years. AFAIK a bank cannot impose the types of terms & conditions I referred to in my OP when a personal banking customer changes to interest-only (ie drop term drastically to 7 years and no more tracker) so just wanted to know if the same limitations were imposed on the bank when it was a commercial loan situation.
 
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