Mortgage News
Bank of Scotland receives most mortgage complaints
Bank of Scotland has received the highest number of complaints relating to mortgages and home finance, according to the Financial Ombudsman Service (FOS).
563 complaints were received by FOS about the bank in the first six months of the year and 40% of these complaints were upheld.
The trade body’s inaugural publication of complaints relating to individual financial businesses between 1 January and 30 June 2009 showed Barclays received the second highest amount of mortgage complaints with 371. 55% of these complaints were upheld.
Abbey received the third highest amount of mortgage complaints with 299 and 52% upheld.
Nationwide Building Society was in fourth place with 191 complaints of which 28% were upheld and Cheltenham & Gloucester received 159 complaints with 42% upheld.
Alliance & Leicester received 116 complaints with 39% upheld and Northern Rock received 108 complaints with 31% upheld.
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In terms of the highest complaints upheld, GMAC-RFC topped the list with 75% of its 53 complaints upheld while 60% of the 47 complaints against GE Money Home Lending were upheld.
Walter Merricks, chief ombudsman at FOS, said: “The complaints data we are publishing for the first time today will help people to see how the financial businesses that are responsible for nine tenths of the ombudsman’s workload deal with customer complaints.”
He added that worse-performing businesses will be given vital encouragement to improve as the information was now in the open.
“This should mean fewer of their customers having to bring unresolved complaints to the ombudsman.”