FOS sees 10% drop in Q1 mortgage complaints

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The Financial Ombudsman Service had 3,729 enquiries about residential mortgages in the first quarter of 2016, down ten per cent from 4,136 in the same period of 2015.

The FOS upheld 44 per cent of its mortgage caseload in the 2016 first quarter and 32 per cent in the same period of 2015.

Unconventionally, the ombudsman’s first quarter is April to June.

In the 2014/15 year to March 2016 the FOS had 16,614 new mortgage enquiries, down from 19,970 in the previous year.

The FOS also received 432 enquiries about secured loans in the first quarter of 2016, upholding 28 per cent of its caseload.

In the same period of 2015 the ombudsman had 442 complaints and upheld 24 per cent of such cases.

In the year to March 2016 the FOS had 1,892 complaints about secured loans, down year-on-year from 1,931.