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Professionals start to complain more to FOS

The Financial Ombudsman Service has reported an increase in the number of professionals making mortgage-related complaints.

Last week FOS released its latest complaints figures for the last three months of 2011.

It received 2,383 criticisms about residential mortgages between October and December 2011, down from 2,796 between July and September.

Only 24% of them were resolved in favour of consumers between October and December, down from 33% in the previous three months.

In total, the FOS received 7,060 complaints relating to residential mortgages in the past financial year, down from 7,452 in the previous financial year, as well as 3,048 complaints relating to mortgage endowments during the year, down from 5,400 the previous year.

FOS also saw a 7% increase in the proportion of complaints from those in professional and managerial positions during the year.

A spokeswoman for FOS says it typically receives the majority of its complaints from skilled and semi-skilled workers, but it has started to see a shift in the social class of those complaining.

She says: “In the current economic climate a lot of people are being made redundant and mortgage payments are their biggest outgoing, which is causing them to complain.”

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  • Exasperated Me 23rd January 2012 at 11:13 am

    If the complainants paid a fee to have a complaint investigated the FOS wouldn’t be inundated by ‘chancers’.