You are here: Home - News -

FOS predicts steady complaints and maintains levy

  • 03/04/2017
  • 0
FOS predicts steady complaints and maintains levy
The Financial Ombudsman Service (FOS) is expecting complaints volumes to remain largely unchanged in the next year.

As a result it has maintained its intermediary levy fee for the forthcoming financial year at £27m.

However, it is cutting £30m from its staffing budget – £20m of which is coming from contractor staff.

Complaints relating to mortgages and home finance fell by almost 1,400 during 2016 as the sector compared favourably to the rest of financial services.

In total, FOS is expecting 330,000 complaints in the 2017/18 financial year with a budget of £230m.

More than half of the complaints (180,000) are predicted to be from Payment Protection Insurance (PPI).

Of the remaining sectors, banking and credit is expected to see the largest complaint volume (97,000 total), with 15,000 related to packaged bank accounts and 10,000 about payday loans.

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • RT @ashridgepf: Well what a surprise! We love our clients and they obviously are quite fond of us. Mortgage applicants find humans more r…
  • RT @DanielleDennis9: Always love reading through the tweets of the year every December! Have a look through to recap on a great year https:…
  • RT @mortgagestall: Great to see the hard work brokers put in is getting ever-more recognised
Read previous post:
A digital world, automation and computer technology
Digital broker targets 10% of market with automated advice service

A mortgage broker claiming to be the first to offer fully-regulated automated finance advice is set to launch in the...