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Financial Ombudsman Service records 49% jump in complaints


By Michael Griffiths

The second half of 2024 saw a 49% annual increase in the number of complaints to the Financial Ombudsman Service (FOS).

New figures have revealed that a total of 141,846 complaints were received by the FOS between July and December last year, compared to 95,349 complaints in the same period in 2023


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‘Underutilised’ IHT mitigation rule set for sharp increase – Quilter

Less than 2% of estates paying inheritance tax (IHT) have used the gifts out of surplus income gifting rule in the last three years, new analysis from Quilter has shown

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Wealth & Asset Management Awards 2025: Winners announced

The winners of the Wealth & Asset Management Awards 2025 were announced last night at a gala ceremony in London

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Net mortgage approvals drop for third month running – BoE

Net mortgage approvals fell for the third month running in March, to a total 64,300, new Bank of England (BoE) figures have shown.

The figure, which is approvals net of cancellations for house purchases, was 800 down on February’s total

Lloyds profits fall 7% in Q1

Lloyds Banking Group has seen its profit before tax drop by 7% year-on-year in the first quarter, reaching £1.53bn

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One Mortgage System and Monument Technology launch partnership

One Mortgage System (OMS) has announced a new partnership with Monument Technology
Bridging loan market ‘stable’ in Q1

Bridging loan activity has remained relatively stable in the first quarter of 2025, according to the latest Bridging Trends data

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Countrywide Surveying Services launches Geoconnect

Countrywide Surveying Services has launched a new decisioning engine, Geoconnect, which is designed to deliver "faster, smarter and more informed" valuation outcomes for lenders, valuers and property professionals

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‘Underutilised’ IHT mitigation rule set for sharp increase – Quilter

Less than 2% of estates paying inheritance tax (IHT) have used the gifts out of surplus income gifting rule in the last three years, new analysis from Quilter has shown

IHT receipts reach new year-on-year record in 2024/25

Inheritance tax (IHT) receipts increased by £800m in the 2024/25 financial year, with a record £8.2bn collected between April 2024 and March 2025, HMRC has revealed

17.9 million Brits to be dragged into basic tax rate, Quilter finds

Almost 18 million Brits are set to be dragged into the basic rate of income tax by 2027/28 as a result of frozen tax thresholds, Quilter has revealed

Advisers seek more support on IHT planning, study finds

Advisers are increasingly looking for support around inheritance tax (IHT) planning amid growing demand for advice, a new study by investment manager Downing has shown

Financial Ombudsman Service records 49% jump in complaints

The second half of 2024 saw a 49% annual increase in the number of complaints to the Financial Ombudsman Service (FOS). New figures have revealed that a total of 141,846 complaints were received by the FOS between July and December last year, compared to 95,349 complaints in the same period in 2023

FSCS launches investigation into Campbell & Associates

The Financial Services Compensation Scheme (FSCS) has confirmed that it is accepting claims against Campbell & Associates Independent Financial Advice, after placing restrictions on the firm

Advisers risking regulatory issues on wills

Advisers are risking potential regulatory issues if they do not consider wills and Lasting Power of Attorney (LPAs) when recommending later life lending products, Key Later Life Finance has warned

FCA to streamline regulatory capital rules

The Financial Conduct Authority (FCA) has announced plans to streamline the rules on the types of funds that investment firms must hold to absorb losses during periods of stress

Lloyds profits fall 7% in Q1

Lloyds Banking Group has seen its profit before tax drop by 7% year-on-year in the first quarter, reaching £1.53bn

Many UK adults ‘misguided’ in their knowledge about estate planning

Many adults in the UK are “misguided” in their knowledge about estate planning, wills, and the laws of succession, according to research from Canada Life

Barclays UK income jumps 14% in Q1

Barclays UK has recorded a 14% increase in income to £2.07bn in its first quarter, driven by "higher structural hedge income" and the acquisition of Tesco Bank

Bridging loan market ‘stable’ in Q1

Bridging loan activity has remained relatively stable in the first quarter of 2025, according to the latest Bridging Trends data

OSG Ship Management pension scheme completes £16m buy-in with Aviva

The OSG Ship Management (UK) Limited Retirement Benefits Plan has completed a £16m full scheme buy-in with Aviva, covering the defined benefit (DB) liabilities for 53 members from OSG

Gleaner Pension Scheme completes £7.5m buy-in with Aviva

The Gleaner Pension Scheme has completed a £7.5m buy-in with Aviva, securing the benefits of all 121 members, comprising 26 deferred and 95 pensioner members, and covering all the scheme liabilities.

College of Law pension scheme agrees £85m buy-in with Royal London

The College of Law Pension and Assurance Scheme has agreed an £85m buy-in with Royal London, meaning that all scheme liabilities are now fully covered by insurance contracts

Over £800m paid to address state pension underpayments

The Department for Work and Pensions (DWP) has repaid £804.7m to individuals impacted by historical state pension underpayments

IFAs negative towards crypto investment

Two in three (66%) independent financial advisers (IFAs) are feeling negative about cryptocurrency as an investment opportunity for their clients, new research by Opinium has revealed

LHV Bank loan book grows 30% in Q1

LHV Bank has seen its loan book increase by over 30% quarter-on-quarter in Q1 2025, reaching £400m

British Business Bank accredits Creative Growth Finance

The British Business Bank has accredited Creative Growth Finance (CGF) as a delivery partner under its Growth Guarantee Scheme

AJ Bell announces new record AUA

AJ Bell increased its assets under administration (AUA) to a record £90.4bn in its second quarter, a figure up 13% on last year

Countrywide Surveying Services launches Geoconnect

Countrywide Surveying Services has launched a new decisioning engine, Geoconnect, which is designed to deliver "faster, smarter and more informed" valuation outcomes for lenders, valuers and property professionals

One Mortgage System and Monument Technology launch partnership

One Mortgage System (OMS) has announced a new partnership with Monument Technology

HALO Invest unveils research tool in preparation for adviser platform launch

HALO Invest has unveiled a new research product aimed at supporting investors in finding investment opportunities as it prepares to launch a new adviser platform in the UK

Air launches new app for later life lending advisers

Later life lending platform Air has launched a new app for its Air Club members which will deliver product rate notifications as well as market insight videos from industry experts

News in brief - 6 May 2025

Today's round up of developments coming out of the consumer finance space, featuring Hampshire Trust Bank, StreamBank and YBS Commercial Mortgages

Monmouthshire BS partners with MQube

Monmouthshire Building Society has launched a new partnership with mortgage technology provider, MQube

News in brief - 2 May 2025

Today's round up of developments coming out of the consumer finance space, featuring Landbay, ModaMortgages and Zephyr Homeloans

Wealth & Asset Management Awards 2025: Winners announced

The winners of the Wealth & Asset Management Awards 2025 were announced last night at a gala ceremony in London

BLOG: Expand the holistic solutions you can offer with Royal London Equity Release

Royal London Equity Release discusses the importance of holistic support for clients when it comes to later life lending

BLOG: The younger generation have spotted an alternative route into the housing market – and we should embrace it

Head of business development at Saffron for Intermediaries, Tony Hall, discusses how the younger generation can find their way onto the housing ladder

BLOG: Introducing eConveyancer+ | Raising the bar on communication

The latest MoneyAge blog explores eConveyancer+, a new standard in conveyancing designed to support brokers in delivering exceptional service with complete confidence

BLOG: What You Need to Know About Portfolio Landlords in 2024

Portfolio landlords – those with four or more properties - are the backbone of the private rented sector. Our latest report, Portfolio Landlord 2024, looked into who these landlords are, how they feel about their property business and their plans for expansion

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