Mortgage complaints have increased by 55% compared with the same period in 2013, data from the Financial Ombudsman Service has revealed.
More than half of the complaints were still PPI related. Other favorites included disputes over valuations, complaints about the advice to take out the wrong mortgage product and upfront fees being charged where no mortgage offer is forthcoming.
Then there are the complainants who are struggling to meet their mortgage repayments, whose complaints are varied, but generally focus on “unfair” increasing payments.
An area which has contributed to the increase is complaints about “mortgage administration.”
As we don’t sell PPI, do valuations, or charge upfront fees, we are pretty much in the clear on the complaints front, but I can confirm that our usually slick administration service has been tested to the limits following the new mortgage regulations this year. This has left clients – if not quite ready to go into battle with the Ombudsmen, somewhat agitated.
I telephoned a client who commented on our customer questionnaire, that the “whole process took twice as long as it should have, as the lender kept on asking ridiculous questions.” To be fair the lender asked all the usual questions when the application arrived, but they were followed up by 6 questions (over a 2 week period) regarding direct debit payments to “The Dogs Trust,” “British Gas Homecare” and “Sew magazine Subscription.” What were they for? were they compulsory?, can they be cancelled without a charge?
I checked the notes, and clearly the underwriter had left no stone unturned, before he finally issued the offer of £120,000, to a client earning over £75,000! To be fair, lenders have started to ease up on the new “affordability checks.” But for the record: The Dogs Trust, is The Dogs Trust, British Gas Homecare, come out for plumbing / boiler / drains and electric problems and Sew magazine subscription is a subscription to Sew magazine!
If you need any mortgage advice please get in touch with one of our advisers.
Recent posts
Different seasons can have a noticeable effect on property prices.
Research from Zoopla shows that spending out on certain features can fetch up to £29,000 during the summer months.
Monday 22nd June saw Keir Starmer resign as Prime Minister and Labour leader. The resignation does not directly impact mortgage rates, as changes were taking place before this announcement. However, it could influence mortgage rates indirectly through financial markets and future government policies.
Homebuying reform to cut homebuying times by around four weeks, and save first-time buyers around £650, says the government.
Buying your first home is a huge milestone, but it can also be a complex process. There are several factors a first-time buyer should consider before making an offer on a property, including understanding the difference between leasehold and freehold and checking council tax bands.
We’ve detailed some questions you can ask your estate agent to help you make an informed decision.
Best UK Mortgage Rates this Week
7 days ago
Here are the lowest fixed mortgage rates of the week, available to first-time buyers, home movers, buy-to-let, and those remortgaging.
Call us for more information: 01628 507477 or email: team@mortgagerequired.com.
Signs it's time to remortgage
9 days ago
Remortgaging means switching to a new mortgage deal. This will either be with your current lender or a new one.
Getting advice and moving to a new deal when the time is right can mean lower monthly mortgage payments, better interest rates, or releasing equity from your property.
Here are some signs it may be time to remortgage.
According to Nationwide Building Society’s latest House Price Index, house prices dropped 0.6% month on month in May – the first monthly decline this year.
Most Affordable UK Spots for First-Time Buyers
19 May 2026
Research from Lloyds identifies the most affordable areas in the UK for first-time buyers to be able to get onto the property ladder.
More information
Trusted by
