High Court orders financial ombudsman to revisit ruling on architect’s bank loan dealings

AN architect has won her High Court challenge to a decision by the Financial Services Ombudsman rejecting most of her complaints against Bank of Ireland over its dealings with her concerning a loan.

Mr Justice Kevin Cross found “serious and significant errors” in how the ombudsman arrived at his decision in May 2011 to reject three of four complaints made by Roisin Hyde, and directed the ombudsman to reconsider the matter. The judge stressed he had no view on the merits of the case, which that was an issue for the ombudsman.

Ms Hyde said she was offered a loan facility of €965,000 in March 2007 to buy and renovate a property — €715,000 to buy the property and €250,000 for renovation.