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Number of upheld mortgage complaints increases: FOS

The number of newly initiated residential mortgage complaints increased in the last three months of 2018, compared to the year prior, new figures from the Financial Ombudsman have found.

The number of upheld complaints also saw a slight rise.

Latest figures show that from October to December there were 3,389 mortgage related enquiries made, 2,654 of which related to new cases, with 467 taken on by the Ombudsman and 27 per cent upheld.

The figures compare to 3,845 enquiries in the period from July to September last year, 2,540 of which were new cases and 24 per cent of which were upheld.

In the year from April 2018 to the end of December, there were 11,103 mortgage related enquiries, 7,673 relating to new cases, 1,320 which made it through to the Ombudsman and 26 per cent were upheld.

The FOS says PPI continued to be the most complained-about financial product, with  40,855 new complaints.

PPI complaints made up nearly 44 per cent of all complaints received.


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