There has been a year-on-year rise in the number of new cases of mortgage-related complaints, latest figures from the Financial Ombudsman Service have shown.
The second quarter (July to September 2014) showed 3,333 new cases submitted, with 33 per cent upheld. The same period last year saw 3,090 new cases and 28 per cent upheld.
According to Fos data, there has been a pattern of steady rises in mortgage-related complaints over the past three years.
A spokesman for the organisation said this was “potentially related to the current economic climate as homeowners examine their expenditure or come to renew mortgage deals.”
Typical areas of complaint include valuation disputes, sales and mortgage product advice, administration and upfront fees being charged where no mortgage is offered.
Earlier this year Fos called on mortgage lenders to be wary of the signs that their customers were struggling to make repayments, and not wait until payments are missed before suggesting solutions. Four out of 10 of those contacting Fos are struggling to meet mortgage repayments.
Overall, during the second quarter, Fos handled more than 157,000 enquiries from consumers, 88,038 new cases were taken on and 12,125 complaints were appealed to the final stage of the complaints handling process.
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