I thought it was interesting to read that of the 94,392 complaints dealt with in total – bearing in mind this includes all financial products, insurances, pensions, loans, and bank accounts – the biggest percentage – 49 per cent – were complaints about endowment policies. On the other hand, complaints about mortgage products amounted to 4.5 per cent, while I see no mention of complaints about mortgage advice at all.
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The complaints are also analysed by industry sector and by far the biggest number of complaints – 37 per cent – were directed at insurance and investment product providers. Banks, with 30 per cent, came a close second. Complaints received about mortgage intermediaries totalled a mere 1.5 per cent.
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My conclusion? On the basis of these figures, it could perhaps be agreed that mortgage intermediaries are getting on with the job in a professional manner, thereby incurring a minimal number of complaints. So why the long faces?
Yours etc
Noel Broadgate
Mortgage adviser
Sunrise Mortgages
