The Financial Ombudsman Service (FOS) received 40% more complaints in the first six months of the year than originally forecast.
In its latest plans and budget consultation, which revealed how it is managing coronavirus, the FOS said complaints include those linked to the pressures and disruption the pandemic is creating for lives and livelihoods in the UK.
"As I write, new complaints continue to reach us in far higher volumes than we’d budgeted for," Caroline Wayman, chief ombudsman & chief executive said.
The consultation said the main issue is between easing the regulatory burden on firms that pay the FOS levy while remaining adequately funded.
In March, the FOS introduced revised funding arrangements for its 2020/21 budget due to COVID-19.
The ombudsman froze all minimum levies at 2019/20 levels and said it would absorb the cost of these changes using reserves. It budgeted to end 2020/21 with a deficit of £53m but the latest forecasts show a deficit of £43m.
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Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?
The role of the bridging market and technology usage in the industry
Content editor, Dan McGrath, sat down with chief operating officer at Black & White Bridging, Damien Druce, and head of development finance at Empire Global Finance, Pete Williams, to explore the role of the bridging sector, the role of AI across the industry and how the property market has fared in the Labour Government’s first year in office.
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In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
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