Scottish bank hit with 1004 complaints

Scottish bank hit with 1004 complaints




In the last six months, major high street presence Bank of Scotland Plc (BOS) has received 1004 mortgage and home finance complaints according the Financial Ombudsman Service (FOS)….

In the last six months, major high street presence Bank of Scotland Plc (BOS) has received 1004 mortgage and home finance complaints according the Financial Ombudsman Service (FOS)…

Bank of Scotland offers mortgages to customers provided by Halifax, holding over 160 years of experience with homeowners. The bank also provides: buy to let finance, commercial mortgages and business overdrafts.

FOS figures compiled over the six months to 31st December 2014 showed that 1004 new complaint cases were logged for the bank in regards to mortgage and home finance - the highest of all the institutions listed.

The bank received a total of 19706 complaints including 2553 related to banking and credit and 15732 to do with PPI. Alternatively, Barclays Bank Plc obtained 4203 new cases in regards to banking and credit complaints.

When contacted for comment the Lloyds Banking Group said: "We remain absolutely committed to keeping complaint levels low, and are pleased that our overall referrals are declining faster than any of our peers. Our industry leading banking change rates, combined with the significant reduction in the number of referrals to the Ombudsman is encouraging, and is testament to the improved experience that our customers are receiving.”

They also pointed out that the Financial Ombudsman Service (FOS) has today confirmed that over the last year, it has seen a 46% reduction in complaints received from customers of Lloyds Banking Group, with a 25% drop in the final six months of 2014. The figures show that complaints to the Ombudsman relating to the Group’s brands are falling at a faster rate than any other major bank.

"The data published today also shows that, excluding complaints relating to PPI, 73% of the Group's decisions are upheld when they are referred to FOS. The Group continues to make significant progress on this measure, up from 55 per cent in 2010," they added

They also stated: "Additionally, for banking and credit complaints the Bank has the lowest change rate of complaints than any other major high street bank."

The cases originate from customers who were dissatisfied with the financial business’s response to their complaint. The FOS noted that there is likely to be a correlation to the size of the business.

The Ombudsman added: “These figures cover financial businesses only where we received at least 30 new cases and resolved at least 30 cases in the six-month period from 01 July to 31 Dec 2014.”

Of the BOS mortgages and home finance complaints resolved by the ombudsman, 37 per cent resulted in favour of the consumer, four per cent higher than the total average.

Out of the 19706 complaints received, 51 per cent were resolved in favour of the consumer, one per cent lower than the average.



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