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Bank of Scotland tops complaints list for fourth time

Bank of Scotland, which incorporates Halifax and BM Solutions, has topped the mortgage complaints list for the fourth year running.

Bank of Scotland received 884 mortgage complaints between July 1 and December 31 2011, with 32% upheld in favour of the consumer, data from the Financial Ombudsman Service reveals.

Santander UK received the second highest number with 515 complaints, of which 26% were upheld. This was followed by Barclays with 458 and 41% upheld.

Northern Rock Asset Management received 330 complaints, with 17% upheld, while Cheltenham & Gloucester received the fifth highest number of complaints at 284 with 22% upheld.

Overall, Lloyds Banking Group received the most complaints over the six-month period at 20,310.

During this time, FOS received a total of 106,193 new complaints, 89% of which involved 163 financial businesses.

Of the cases published, 46,700 related to payment protection insurance, a decrease of 53% on the 98,632 PPI cases received in the first half of 2011.


Small lenders buckle under demand, with Accord pulling all deals again

Accord Mortgages’ decision to pull its product range for the second time in a month has sparked fears that smaller lenders are struggling to cope with demand. Accord withdrew all its residential products last week to maintain service levels after receiving a high volume of applications. It is expected to replace the products at some […]


Caption competition

Mortgage Strategy editor Rob Thickett and Legal & General’s Duncan Crocker prepare to race up Tower 42’s 920 steps in London


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