FOS upholding just 10% of mortgage mis-selling claims
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The Financial Ombudsman Service has revealed that it upholds just 10% of all mortgage mis-selling claims made by claims management firms.
Overall it received 2,044 complaints between April and June relating to mortgages, these came both direct from consumers and through claims firms.
Overall, it resolved 36% of these in favour of consumers, but FOS says it is unable to breakdown its figures to show how many it received specifically from claims management firms.
A spokesman for FOS says: “We roughly uphold 10% of mortgage mis-selling complaints from claims firms. The complaints are typically being made about sales practices and whether the borrower could afford the mortgage.”
FOS says it has seen no recent influx in claims relating to the mis-selling of mortgages, despite an increasing number of firms appearing when searching ‘mis-sold mortgage’ on Google.
FOS says it is encouraging borrowers to complain direct instead of paying fees of up to £500 which some claims firms are charging.
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