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How long will the Financial Ombudsman Service (FOS) take to consider and resolve my mortgage endowment complaint?

April 26, 2017complaint endowment financial FOS mortgage Ombudsman resolve service

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How long will the Financial Ombudsman Service (FOS) take to consider and resolve my mortgage endowment complaint?

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This may depend on whether you and the firm both agree, at an early stage, to any recommendation or informal settlement that FOS might suggest – or whether either you or the firm request the next, more formal stage of the FOS’s process. Disputes that involve a formal review and final decision by an ombudsman – the last stage of the process – take longer than cases settled by adjudicators making informal recommendations. The FOS will keep you informed about progress on your case, so you know what is happening with your complaint. At the FSA, we have taken several steps to ensure that firms consider complaints from consumers properly and promptly. This has included us monitoring firms’ complaint-handling processes, and taking action where standards fail to meet our expectations. This should reduce the extent to which consumers then need to refer their complaint onto the FOS.