Mortgage broker complaints double but banks still dominate

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Complaints against mortgage intermediaries have doubled in the past twelve months, the Financial Ombudsman Service (FOS) says.

These were dwarfed by complaints against banks however, which totaled around 60%. While IFAs have seen their overall share of complaints to the FOS fall, mortgage brokers have suffered from a rising tide of unhappy customers. The proportion of complaints against advisers fell from 4% in 2007/08 to 3% in 2008/09, while mortgage intermediaries saw their share of complaints rise from 2% to 4% over the past year. But complaints against banks remained the biggest issues for the FOS, accounting for almost two thirds of all complaints it dealt with in the last two years. In 2007/08, bank c...

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