Unwelcome chart-topping for Lloyds TSB

Published on

Lloyds TSB Bank has topped the Financial Ombudsman Service’s (FOS) list of complaints for the first six months of the year.

The group had a total of 12,750 new complaints, with 8,474 being insurance-related.

It almost attracted twice as many complaints as any other regulated firm.

The data published today on the ombudsman’s website covers consumer complaints handled by the ombudsman service between 1 January and 30 June 2010. The data includes both the number of complaints received about individual businesses and the percentage of complaints upheld by the ombudsman service in favour of consumers.

During this six-month period, the ombudsman service received a total of 84,212 new complaints – a small increase on the 82,136 cases received in the second half of 2009. Of these new cases, 89% related to 160 financial businesses (out of more than 100,000 businesses covered by the ombudsman).

The number of new complaints about each of these individual businesses ranged from 30 to 12,750. Five financial services groups continued to have more than 3,000 complaints each, which together accounted for 47,507 cases – over half of all the new complaints received by the ombudsman during this six-month period.

The number of new complaints against each business is likely to be affected by the size of the business. However, experts consulted by the ombudsman were unable to agree how size (or market share) should be taken into account, when comparing complaints statistics across the financial services sector [independent report on “contextualising”” complaints data opens as PDF].

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

The Darlington relaunches foreign currency mortgages

Darlington Building Society has reintroduced foreign currency mortgages to its intermediary range, to support...

Mortgage Guarantee Scheme supported over 56,000 loans before closure

The government’s Mortgage Guarantee Scheme, which ended in June this year, supported more than...

PEXA unveils first TPMA partnership ahead of Sale and Purchase launch

PEXA has been appointed by Amity Law as its third party managed account (TPMA)...

Source Insurance adds Integra to panel

Source Insurance has strengthened its home insurance proposition with the addition of Integra Insurance...

LHV Bank passes £500m loan book milestone as assets top £1bn

LHV Bank has surpassed £500m in its active loan book and crossed £1bn in...

Latest publication

Latest opinions

Bridging the Pond: How large is the US bridging finance market, and compared to the UK?

When we first got started with LendInvest in the UK, post the financial crisis,...

Passing the affordability exam

As teachers and students of various ages have spent August nervously opening exam results...

Investors are changing their approach – and lenders should too

The buy-to-let market never stands still, but the pace of change in recent years...

Leasehold fees, specialists and the need to shop around

Leasehold properties account for around 20% of all dwellings in the UK, and while...

Other news

The Darlington relaunches foreign currency mortgages

Darlington Building Society has reintroduced foreign currency mortgages to its intermediary range, to support...

Mortgage Guarantee Scheme supported over 56,000 loans before closure

The government’s Mortgage Guarantee Scheme, which ended in June this year, supported more than...

PEXA unveils first TPMA partnership ahead of Sale and Purchase launch

PEXA has been appointed by Amity Law as its third party managed account (TPMA)...