The get the ball rolling with the procedure simply send a formal complaint letter to the offending party be it the mortgage lender directly or intermediary. Even the smallest one man band independent mortgage broker will have a back-office support network to handle and investigate such enquiries. By FSA rules the offending party must send a written acknowledgement of your letter within 5 working days of receiving it. This usually resolves the majority of disputes because if they (the firm or intermediary ) cannot produce a satisfactory conclusion your complaint qualifies for consideration by the Financial Ombudsman Service. If however the offending party hasn’t been able to come to a conclusion after a month they must keep you informed or others in danger of another misconduct.

The Financial Ombudsman Service was set-up by the FSA to handle direct consumer complaints. The Ombudsman is funded by a levy fee charged to all financial services institutions in the event they will have to award compensation to the consumer.

They also offer free independent advice should you need it and can be contacted directly on normal office hours on 0845 080 1800.

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