Santander tops FOS mortgage complaints list

Santander received the most complaints in the mortgages and home finance category in H1 2017, according to the Financial Ombudsman Service, which has today published its six-monthly complaints data relating to banks, insurers and other financial businesses.

Related topics:  Mortgages
Rozi Jones
5th September 2017
santander
"We've seen more complaints about most types of financial products in the first half of 2017."

Santander received 736 complaints, followed by Bank of Scotland with 602 complaints and Barclays with 482. Of the Santander complaints, 26% were resolved in favour of the consumer.

Bank of Scotland, part of the Lloyds group, topped the list for the total number of new cases received at 20,541, with most of the complaints relating to PPI.

Lloyds Bank came in second place with 18,068 new complaints lodged.

Almost two thirds of the complaints FOS received in the first six months of this year come from just 10 businesses.

The figures show that the ombudsman took on a total of around 170,000 new cases in the first six months of this year - a 13% increase in complaint figures when compared to the last six months of 2016 – and reflecting rises in almost every product sector including PPI and banking.

PPI continues to be the most complained about product with almost 90,000 complaints – making up over half of all complaints.

Complaints about banking and credit increased by 12% to around 47,000 – within this consumer credit complaints are up by almost a fifth to nearly 15,000.

The average uphold rate (where the ombudsman found in the consumer’s favour) for all businesses over the six-month period was 36% – and ranges from 3% to 79% across the individual businesses.

Caroline Wayman, chief ombudsman and chief executive of the Financial Ombudsman Service, said: "We've seen more complaints about most types of financial products in the first half of 2017.

"The FCA has just launched its communications campaign, which highlights that consumers have until August 2019 to make a complaint about mis-sold PPI. While we still don’t know what impact this will have on our workload, today’s data shows that PPI complaints are already increasing."

More like this
Latest from Property Reporter
Latest from Protection Reporter
CLOSE
Subscribe
to our newsletter

Join a community of over 30,000 intermediaries and keep up-to-date with industry news and upcoming events via our newsletter.