11 Jan, 2008
Blackmore - 11-Jan-2008
The Financial Ombudsman Service has proposed to increase its case
fee from from £400 to £450 but is looking to increase
the number of non-chargeable cases from two to three.
The plans appear today in the consultation for its budget for the
next financial year and its three-year corporate plan.
The budget forecasts a 25 per cent increase in the number of cases
for the year ending March 2008, compared to its original
predictions. The FOS says it will receive 103,300 cases by the end
of the current financial year, up from its previous prediction of
The increase has been driven by a jump in the number of complaints
about unauthorised overdraft charges.
But FOS spokesperson Emma Parker says case numbers are expected to
drop next financial year, in part due to the continued drop in
endowment mortgage cases.
She says: "The number of new mortgage endowment cases are falling
so we expect that next financial year we'll see a drop in case
numbers to 72,000."