On receipt by the Financial Services and Pensions Ombudsman (FSPO), all new complaints are reviewed and registered within two business days.
Where the initial review identifies the complaint as “complete” with all relevant information on hand, and compliance steps verified, the file is prepared for referral to the Dispute Resolution Service. Where the initial review identifies that further information or further assessment is appropriate, then the complaint is queued for further assessment, the current average time to assignment is 13 weeks. Of all the complaints currently on hand in the Registration and Assessment process the age by week received is set out in Table 1 below (including Tracker Mortgage related complaints).
There are 5,521 complaints open that have not received a Preliminary Decision. Table 2 breaks down this complaints data by year and month received. It is noted that most complaints are resolved in early stages or through mediation without the need to issue a preliminary decision. Accordingly, many of these complaints will not ultimately require a Preliminary Decision or a Legally Binding Decision, as set out in Table 2 below.
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There are 5,583 complaints open and have not received a Legally Binding Decision. Table 3 in the attached breaks down this complaints data by year and month received. It is noted that most complaints are resolved in early stages or through mediation without the need to issue a Legally Binding Decision. Accordingly, many of these complaints will not ultimately require a Legally Binding Decision. See Table 3 below.
I am informed by the FSPO that the data contained in this response is extracted from a live database and therefore depicts complaint information at a specific moment in time. Data in this database is subject to ongoing verification and data categorisation as the understanding of the specific complaint is developed.
