The total number of complaints reported by firms in the second half of 2016 increased to 3.04 million.
In the home finance category Black Horse, part of Lloyds Banking Group, received the most complaints at a median of 1115.9 per 1,000 balances outstanding.
Black Horse was followed by Landmark Mortgages with 43 complaints, Blemain Finance (part of the Together Money Group) at 42.4, Pepper UK at 42 and Shawbrook Bank with 19.9.
In total, regulated home finance products generated around 95,000 complaints in 2016 H2, while unregulated products had around 16,000 complaints. There were just fewer than 2,000 complaints about second and subsequent charge mortgages and 2,200 for impaired credit mortgages. Equity release products received around 1,300 complaints.
95% of all home finance complaints were closed within eight weeks, while 44% were closed within three days. 60% of complaints were upheld and around £23 million was paid in redress.
The FCA believes the new data set is more informative because it also shows the number of complaints against size of the business and provides greater insight about the products that consumers complain about.
The top two reasons, receiving nearly 80% of complaints in 2016 H2, were general administration and customer service together with advising, selling and arranging of products.
PPI remained the most complained about product. totalling 895,000.
The total redress paid to consumers was £1.9 billion in the second half of 2016. When all redress payments related to PPI are excluded, the redress figure is approximately £0.3 billion during the same time period.
Christopher Woolard, Executive Director of Strategy and Competition, said: “Consumers want a simple way to complain that does not leave them out of pocket. And they want to be assured that their concerns will be dealt with fairly and quickly.
“These data will provide us with improved intelligence on complaints including new detailed data to show where industry is potentially failing consumers at product level”.
