CHL’s statistics reveal that of the 13 decisions it received from the FOS in 2012, all judgements were made in its favour. In addition to this, the lender received 98 complaints in the second half of 2012, 11 of which have been referred to the Ombudsman.
CHL believe the fact it had no complaints upheld against it bucks the industry trend given the soaring numbers of grievances fielded by the Ombudsman. FOS received more than 180,000 complaints in the final quarter of 2012 alone and is currently upholding around 47% of objections. While the vast majority of these complaints concern the mis-selling of payment protection insurance, there was also a 21% increase in the number of mortgage complaints.
CHL’s flawless complaints record in 2012 is all the more impressive bearing in mind that it continues to manage more than 40,000 live mortgage accounts.
Bob Young, Managing Director of CHL Mortgages, commented:
“We have long been proud of the way we handle and process customer enquiries and complaints and this pride is brought into sharper focus given that customer objections seem to be soaring across the board. While much of this is driven by products such as PPI, that we didn’t offer our customers, the sharp spike in mortgage complaints means that lenders in our sector can’t afford to get complacent. Indeed, while our statistics are not included in the official FOS figures, we believe it is important to regularly publish the data for reasons of accountability, transparency and for comparative purposes among our peer group.
“The fact our figures remain so low is a result of a concerted effort to engage with borrowers in potential difficulty as soon as possible, as well as the fact our size and approach enables us to offer landlords a much more personalised service than they may experience from other lenders. Our policy of complaints being reviewed at the highest level means that not only are our borrowers reassured that any grievances are being taken seriously, but they are more likely to be resolved in a timely and satisfactory manner.
With the FOS predicting an increase in the number of complaints it expects to receive in 2013, lenders need to be doing everything in their power to ensure their complaint-handling processes are as efficient as they can be. Our personalised service – which includes the way we deal with complaints – has long been part of our USP and it will continue to be something that sets us apart from others in the sector.”
