Bank made errors and caused delays in restructuring home loan

Categories:
Delays, Lending, Fees, charges & rates,
Summary:
In October 2025, Bryan asked the bank to restructure his home loan. He later complained that the bank took too long to act on his request, which led to errors when interest was backdated. He said this was not the first time he had encountered delays and errors when the bank restructured his loans.
Published:
April 2026

Our investigation

We found the bank had made errors when it initially processed Bryan’s request and again when it made interest adjustments. We suggested the bank raise its initial compensation offer of $200, given the errors we had identified and given the impact of its processing delays on Bryan. The bank increased its offer to $350.

Outcome

Bryan accepted the bank’s revised offer.

Print this page