News Details

16 Jan, 2009

Financial Ombudsman case fees to increase

Financial Ombudsman Service case fees will rise in the 2009/10 financial year from £450 to £500 and firms will continue to receive three free cases. The FOS corporate plan and 2009/10 budget,  predicts that overall complaint numbers will jump by 44 per cent in the next 12 months.

The Ombudsman says this will increase its operating costs by £29.8m to £92.5m - this includes the cost of 300 additional adjudicators to resolve an expected 165,000 complaints.

Pensions and investment complaints are forecast to increase by 41 per cent to 24,000 cases and mortgage complaints are expected to jump 78 per cent to 16,000.

 

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