Answer: The Central Bank don’t deal with mortgage complaints is why…

We should probably pose the question, ‘Why haven’t the Central Bank dealt with any complaints about abuses of the Code of Conduct on Mortgage Arrears?’.

The answer is the blog topic. The Central Bank are a regulator, not a receiver of and adjudicator of complaints.

The Central Bank do have a sanction regime, but it is mainly regarding that of regulation from the perspective of qualifying for regulation, for complaints about the CCMA the most appropriate authority is the Financial Services Ombudsman.

And they have been dealing with mortgage complaints for quite some time, they even have a category for it in their reports.

Not only that, their own chairperson notes (see page 11) that mortgage related complaints were a massive 50% of the complaints received! And in many cases the complaints are partially substantiated and a lower number fully substantiated.

In general complaints are down, complaints received for 2014 were 4,477, a decrease overall of 42% year on year.

This is encouraging as it means more complaints are being dealt with prior …

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Irish Mortgage Brokers, complaint free in 2014! We’re happy about it.

Last year marked our 10th anniversary and also the 10th year for which we had no customer complaint which required any adjudication by the Financial Services Ombudsman (or any other office prior to their existence).

This makes us very happy, and is a sign of our continued commitment to our clients who are the people who keep us in business.

It doesn’t mean people never get upset, mortgages and in particular the closing part of the process can be plagued with difficulties but we do our best to manage this process and help our customers avoid the brunt of it.

And we also do get ‘complaints’ as any firm does, but none have ever gone to the FSO and required their adjudication which means we either put things right on our own or the complaint was invalid/frivolous.

We think 2015 will mark our 11th year of being complaint free (not an invitation to the trolls to mess up our record!), and look forward to another year of being open for business and both ready and willing to help.

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