Credit, Collections & Insolvency News
The Financial Ombudsman Service (FOS) has published its latest complaints data. According to the figures, the Bank of Scotland was the most complained about mortgage lender in the first half of this year. In addition, there were 705 new cases brought to the FOS against the lender, which is part of Lloyds Banking Group.
Bank of Scotland also had the highest total number of complaints across all product areas at 16,179, although this was down by 3,359 on the previous six months. Santander and Barclays were next highest on the list, each with 412 mortgage cases referred to the FOS between January and June.
Royal Bank of Scotland and Natwest had a total of 328 complaints across both the brands. Nationwide Building Society closely followed with 259 cases, which includes its main brand and The Mortgage Works.TSB was next with 168 and HSBC had 163 cases.
The data shows that there were 161,390 total complaints – an average of over 6,000 a week. PPI remains the most complained about product, with over 70,000 new complaints received in the first half of 2019. On average, we upheld 29% of complaints in the consumers’ favour – and, excluding PPI, the average uphold rate was 39%.