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AMA

Financial Ombudsman - AMA!

11 replies

MoneySmartMummy · 09/02/2022 09:45

I see lots of these but not many from those in the financial sector. I did 15 years in retail banking & as a whole of market mortgage adviser before moving to work for FOS.

If you have any questions about FOS or mortgages, happy to help if I can

OP posts:

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ClariceQuiff · 09/02/2022 10:01

Hi OP - are you an actual Ombudsman, or an adjudicator? How long does it typically take an adjudicator to become an Ombudsman if that's the role they ultimately want?

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MoneySmartMummy · 09/02/2022 10:42

I'm an ombudsman - I was an adjudicator and then investigator for 5 years in total. The opportunity to progress at FOS and the incremental stages of progression are something I love, as it's a great way to keep staff motivated if they're keen to progress. It's emotionally demanding sometimes depending on the types of things you work on, but tremendous job satisfaction too

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ClariceQuiff · 09/02/2022 10:46

That sounds great! Are you all WFH since Covid? I've often thought it would be interesting to work for FOS but it wouldn't be practical for me to relocate.

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MoneySmartMummy · 09/02/2022 11:00

We're hybrid - 2 days in, 3 days at home. We have an office in Coventry and an office in London, but you'd need to be able to do 2 days a week in one of those locations.

It's very interesting and dynamic, I find it interesting digging through files and finding pieces of the puzzle. It's a rewarding career even with the pressure of consumer expectations

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Saffy321 · 09/02/2022 11:43

Is it worth pursuing refunds of interest/charges on loans/OD's on un-affordability grounds with the ombudsman if the lender has rejected the complaint.

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MoneySmartMummy · 09/02/2022 11:49

@Saffy321 absolutely!

I used to work a lot of Wonga cases way back when, and their default was to reject the compliant unless it was irrefutable. We upheld around 90% of cases for irresponsible lending.

You need to make sure it's taken to FOS within 6 months of the business rejecting the claim though. You can register your complaint online or over the phone

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ClariceQuiff · 09/02/2022 16:00

Ah, that's interesting - I didn't know there was a Coventry office. Unfortunately too far away for me.

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MoneySmartMummy · 10/02/2022 13:24

Anyone else?

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Nc4post99 · 15/02/2022 23:56

You reckon lifetime mortgages are the next big endowment mortgage scandal?

Guessing you were a mortgage broker?

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ChristmasPlanning · 16/02/2022 00:22

Do you specialise in certain complaint types or deal with a mixture?

What are the cases you enjoy dealing with the most?

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Insidelaurashead · 01/03/2022 22:36

I work for a credit card company and we get a lot of 'I'm going to the ombudsman' for complaints that they don't have a point. Like, my payment was due, you reminded me a week before like you always do, I rang on the day and you reminded me, I didn't pay it and you told my credit file I didn't pay it, I'm reporting you'

My question is a two parter really, do you get a lot of complaints where the person is not in the right, and do those people get told no, you're not right?