The Financial Ombudsman is an organization set up by Parliament. It was created to help ‘sort out’ problems and disputes that might arise when using financial services in the UK.
If they decide that someone has been treated unfairly, then they have legal powers to ‘put things right’.
In 2017, more than two million people contacted the Financial Ombudsman with problems relating to everything from bank accounts, credit and debit and store cards right the way through to pensions, savings, investments and car loans! More recently, many PPI claims have been dealt with by the Financial Ombudsman.
The Financial Ombudsman can handle a wide variety of complaints relating to financial services but there are strict rules, especially time limits, relating to what they can and cannot deal with and adjudicate upon, so it is worth checking with them to make sure they can help you.
If they uphold a complaint, they can tell the business involved to compensate the consumer for losses of up to £150,000 (£100,000 for complaints we received before 1 January 2012). However, in most cases the amounts involved are much smaller.
The Financial Ombudsman’s service does not punish or fine financial services businesses or regulate such businesses to make sure they follow the rules. This is the job of the regulator, known as the Financial Conduct Authority (FCA).
Related article:
Download our Free First Time Buyers Guide
Recent posts
UK Housing Market Round-Up: 2025
3 days ago
Property search site Zoopla has estimated that the UK housing market will end 2025 with approximately 1.15 million completed sales – 4.5% more than the previous year.
Take a look at the 2025 summary of the UK housing market.
Best UK Mortgage Rates this Week
3 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.
Buying in the New Year
4 days ago
If buying your first property, or moving home, is on your to-do list this year, the new year can be a great time to take this big step. In this short blog, we look at what you need to consider as you plan and prepare for your home-buying journey.
Just because the Bank of England decides to reduce the base rate, this doesn't automatically mean that your mortgage rate will go down.
Autumn Budget 2025: A Summary
26 Nov 2025
Chancellor, Rachel Reeves, has delivered the Autumn 2025 budget. We have summarised the government's plans for tax and spending.
Renters' Rights Act
14 Nov 2025
The Renter’s Rights Bill became law at the end of October, which means it has been signed off by the King, and it is now the Renters’ Rights Act. Despite this becoming law, these changes are likely to start changing within the next six months, with the aim of being fully implemented throughout 2026 and into 2027.
A welcome change in school is coming as financial literacy is due to become compulsory in schools in England.
The Government has announced that as part of the new national curriculum, children in primary and secondary education will be required to learn about budgeting, compound interest, managing money, and mortgages.
The top 10 most beautiful villages in the world
24 Oct 2025
Forbes has published a global ranking of stunning locations and one popular picturesque corner of the UK has nabbed top spot.
More information
Trusted by
