FOS 'fair and reasonable' - report

The report, commissioned by the FOS itself, notes the massive increase in the organisation’s workload in the past few years as the number of mortgage endowment complaints made has soared, to now account for half of all complaints. Meanwhile, the unit cost of complaints handling has dropped to £473 from £730, while quality has, in the main, been maintained and judgements remained consistent, the research suggests. “Our overall view is that the Financial Ombudsman Service is a thoughtful, well-managed organisation that is doing a good job under difficult circumstances,” the report state...