Mortgage product complaints to FOS hold steady - Mortgage Strategy

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The number of mortgage product enquiries the Financial Ombudsman Service received in Q3 FY 2019 (October, November and December) came to 3,203, shows new data.

Of these, 1,939 were new and 440 cases were upheld – 23 per cent.

This compares to 3,551 enquiries – 1,793 new – in the previous quarter (July, August, September), of which 541, or 24 per cent, were upheld.

While there were plenty of complaints about mortgage products, the FOS received 3,500 PPI complaints a week in Q3, it says – a 72 per cent increase on the previous quarter.

“There has never been another complaints issue on the same scale as PPI,” says FOS chief ombudsman and chief executive Caroline Wayman.

“We’re pleased that most businesses are now following our well-established approach and paying compensation straight away. We know that it’s taking businesses a while to respond to all the complaints made around the deadline, but we’d encourage you to wait for their response if possible.

“If you need help more urgently, or you’re unhappy with the final response you get from the business, get in contact with the ombudsman service and we’ll see if we can help,” she adds.


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