Financial Ombudsman Service (FOS)
The Financial Ombudsman Service (FOS) has been formed to deal with consumer complaints in respect of the majority of personal financial matters.
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Here we take a look at the different areas the Financial Ombudsman Service will cover with regards to complaints for personal financial matters, the procedures to follow for submitting a complaint against a financial services company, along with where to submit your complaint to.
Table of Contents:
Financial Ombudsman Service and consumer complaints
The Financial Ombudsman Service (FOS) has been formed to deal with consumer complaints in respect of the majority of personal financial matters, including, amongst others, those concerned with:
- Mortgage advice
- Bank and Building Society services
- Financial advice
- Insurances
- Endowment Policies
- Personal Pensions
How do I complain to the Financial Ombudsman Service (FOS)?
Well, firstly you should address your complaint to the organisation with which you have a complaint. If the company is authorised and regulated by the Financial Services Authority in respect of its complaints handling, then it should have an internal complaints procedure that you will have to follow.
If you are unhappy with the outcome of the firm's investigation of your complaint, then you will be entitled to refer your complaint to the Financial Ombudsman Service, although you should be aware that this must be done within six months of the firm's final decision.
How to contact the Financial Ombudsman Service
The Financial Ombudsman Service may be contacted as follows:
- Financial Ombudsman Service
South Quay Plaza
183 Marsh Wall
London E14 9SR
Tel: 0845 080 1800
Fax: 020 7964 1001
Visit the Financial Ombudsman Service website.
The Financial Ombudsman Service is free to the consumer, and will impartially consider complaints and advise how best the matter can be resolved. If the FOS cannot assist in negotiating a fair settlement between you and the firm you have complained about, then it will instigate a formal investigation. The Financial Ombudsman's decision will be binding on the company, although if you disagree with the decision, you may take the complaint to court at your own cost.
Additional Financial Ombudsman Service information
Here at Shire Direct we are of the firm belief that you'll hopefully never have cause to complain about our services as our whole company ethos revolves around putting you, and our service to you, above all else! We take great pride in following and adhering to the Financial Services Authority 'Treating Customers Fairly' initiative.
However, if you are a customer of ours and are unhappy about any aspect of our services, and would like to raise a complaint about any aspect of our own services, please take a look at our internal complaints handling procedures, which contain all our own relevant contact information with regards to complaints and how we process any complaints that may be raised.
We hope we've managed to give a little insight into the Financial Ombudsman Service and its purpose, and have answered any initial questions you may have had. Remember, we're here to help, so if you are looking for mortgage or remortgage funding, we have a wide portfolio of products available to suit even the trickiest of circumstances. So why not give us a call on Freephone 08000 282 281 (lines open 8am until 10pm), or enquire online anytime, we'd love to hear from you!
The overall cost for comparison is 9.8% APR.
The actual rate available will depend upon your circumstances. Ask for a personalised illustration. APR variable and based on a usual case. Most customers are likely to receive a lower rate or the same rate as our overall cost for comparison rate - learn more about APR.
There are no upfront broker fees.
However, a fee may be charged on successful completion. An indication is that on conforming cases (straightforward applications with no or minimal adverse credit) a fee may be charged of up to 1% of the amount advanced, typically £795 and will depend on your circumstances.
For non-conforming cases (where case research and processing may be more complex due to adverse credit or unusual circumstances), a fee may be charged of up to 3% of the amount advanced, typically £1,995.
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SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED
IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
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Shire Direct and Shire Direct Mortgages are trading styles of Shire Processing Centre Limited which is
Authorised and regulated by the Financial Services Authority in respect of regulated mortgage products and general insurances.
Registered No: 302389. Commercial funding and Secured Loans are not regulated by the FSA.
Licensed Credit Brokers. Consumer Credit Licence Number: 349999.
Shire Processing Centre Limited is registered under the provisions of the Data Protection Act by the Information Commissioners Office: Registration No: Z6795249. Registered in England & Wales. Company number: 2732202. Telephone calls may be recorded for training, monitoring and security purposes. All applicants must be aged 18-years or over.