The Monetary Ombudsman Service (FoS) has reported that residential first cost mortgages and buy-to-let (BTL) mortgage complaints each elevated by 27% between July and September this yr.
Through the interval, there have been 1,170 complaints about residential first cost mortgages, whereas BTL mortgage complaints totalled 186.
Regardless of some areas displaying an increase in complaints, the totalled variety of circumstances fell from 73,700 in July to September 2024, to 46,300 in the identical interval this yr.
The quantity was additionally decrease than the 68,000 reported within the first three months of the monetary yr between April to June.
The most recent knowledge set reveals that skilled representatives accounted for 4,300 circumstances within the second quarter of this monetary yr, and a better proportion of complaints at the moment are coming immediately from customers.
In the identical interval in 2024/25, skilled representatives lodged round 37,100 circumstances.
Motor finance fee and perceived irresponsible and unaffordable lending had been the 2 areas the place complaints from skilled representatives beforehand made up a big proportion of circumstances.
Within the second quarter of this monetary yr, the FoS obtained 4,500 complaints about irresponsible and unaffordable lending in comparison with 24,900 circumstances in July to September 2024.
Commenting on the newest figures, FoS interim chief ombudsman James Dipple-Johnstone says: “We’re enterprise an formidable collection of enhancements to foster confidence in monetary providers now and sooner or later.”
“Following a interval of extraordinary demand, our case volumes at the moment are beginning to lower because the measures now we have applied make sure the complaints which come to us are better-evidenced and able to be investigated.”
“The adjustments now we have already launched – and people we plan to make sooner or later – will enable us to give attention to getting again to our core goal for purchasers as a fast, casual and neutral various to the courts for resolving disputes.”
