Complaints about home finance to the Financial Conduct Authority (FCA) came to 94,844 in the second half of last year, a fall on the same period the year before.
According to the latest figures from the FCA, home finance complaints came to 101,332 in H2 2022, but fell to 91,470 in H1 2023.
The segment covers equity release, impaired credit, other regulated home finance products, other unregulated home finance products and second and subsequent charge.
Other regulated home finance products was the largest complaints segment at 70,387, which is down from 78,418 in the second half of 2022.
This was followed by other unregulated home finance products at 19,120, an increase from 17,398 in H2 2022.
Complaints around second and subsequent charge took third position at 2,650 in the second half of 2023, a rise from 2,250 in the same period the year before.
Equity release accounted for 1,951 complaints, a drop from 2,674 in the second half of 2022.
Impaired credit made up 714 complaints, which is a fall from 592 in the same period the year before.
1.87 million complaints in financial services overall
The report stated that the number of complaints per 1,000 products sold came to 7.27 in H2 2023, a slight increase on 6.75 in H1 2023 and 6.83 in H2 2022.
In financial services overall, the FCA received 1.87 million complaints, a 1% fall from the prior period.
Home finance is one of three product groups that experienced a rise in complaint numbers, along with banking and credit cards and investments.
The percentage of complaints upheld decreased from 61% in 2023 in H1 2023 to 58% in H2 2023.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
