Santander most complained-about mortgage firm in Q1, says FOS

Santander-700x450.jpg

Santander was the most complained-about mortgage firm in Q1 2017, according to new figures from the Financial Ombudsman Service.

The FOS says the lender got 736 new complaints made against it in the period.

The lender with the second-highest level of new complaints in the period was Lloyds, with 602, followed by Barclays (482), RBS (347) and Nationwide (299).

The mortgage firm with the most complaints upheld against it in Q1 2017 was Connells, owned by Skipton Building Society.

The FOS upheld 43 per cent of all mortgage grievances against Connells.

Across the whole mortgage market the FOS upheld an average of 24 per cent of claims.

The mortgage company with the second-highest level of complaints upheld was Countrywide Principal Services, with 37 per cent.

Following Countrywide was Kensington Mortgage Company (35 per cent upheld), The Mortgage Works (also 35 per cent) and Barclays (29 per cent).

Six months ago the firms with most complaints upheld against them were Santander and Connells. Both saw the FOS side with consumers in 36 per cent of cases.

Recommended

Money-Cash-Coins-GBP-Pounds-UK-700x450.jpg

FOS payday loan complaints soar 200% as mortgage gripes fall

Mortgage complaints made to the Financial Ombudsman Service fell 8 per cent last year, while grievances against payday lenders rose more than 200 per cent. The FOS says it had 10,428 new mortgage complaints in the 2016/17 year, down from 11,288 in the 2015/16 period. Mortgage complaints made up 2.5 per cent of total enquiries, […]

Money-Coins-Pound-Currency-Close-up-700x450.jpg

FOS to freeze levies while cutting £30m in costs

The Financial Ombudsman Service plans to spend £30m less next year, but levies on the financial services sector will remain the same. The disputes adjudicator is projecting total operating costs of £263.5m for 2017/18, down nearly £32m from the £295.2m it originally proposed in its budget plans. Levies will account for £27m of FOS’ income, […]

Home-House-Paper-Chain-700x450.jpg

Connells and Santander top FOS complaints table for H2 2016

Connells and Santander had the most Financial Ombudsman Service complaints found against them in the second half of 2016, according to new figures. New FOS data shows that both firms had 36 per cent of cases against them resolved in favour of the consumer, the highest in the ‘mortgages and home finance’ category. Meanwhile the […]

Wayman-Caroline-FOS-2013-700x450.jpg

FOS cuts 600 staff over 2016

The Financial Ombudsman Service slashed more than 600 jobs last year, a Freedom of Information Act request reveals. In January 2016, headcount at the complaints handling service stood at 3609. This had fallen to 3296 by June, and 2974 by the end of the year. The largest monthly drop came between September and October, when […]