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Bank of Scotland tops mortgage complaints table

arrow down houses graphBank of Scotland was the most complained about mortgage lender in the first half of 2016, followed by Santander, HSBC, Landmark Mortgages and Barclays, the latest data from the FCA shows.

There were 9,894 new complaints opened about Bank of Scotland over the period, 8,769 about Santander, 6,715 about HSBC, 5,984 about Landmark Mortgages (which holds the accounts of many former Northern Rock borrowers) and 5,272 about Barclays.

The FCA Mortgage Lending Statistics put this data into more context, based on the volumes of lending by each firm.

Overall, the FCA says that the number of opened mortgage complaints remained mostly unchanged since 2014 H2 at 76,137.

The general trend from 2010 to 2014 had been growth in the number of complaints and they are still 31 per cent higher than in 2010.

Since 2015 H2 the number of equity release complaints has fallen from 991 to 780, representing a 21 per cent decrease. This is still higher than the 383 opened complaints reported by firms in 2010 H2.

There has also been a 7 per cent decrease in the number of complaints regarding credit-impaired mortgages between 2015 H2 and 2016 H1. This is in line with the trend of falling sales of credit impaired mortgages since 2008.

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