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Yorkshire Building Society publish complaints figures H1 2017

24 August 2017

The latest figures from Yorkshire Building Society show it is continuing to keep complaints low as it seeks to give customers the best possible service.

Data for the first half of 2017 shows that an average of 2.91 complaints were raised per 1,000 savings accounts and 14.75 complaints per 1,000 mortgage accounts.

The period included the busy tax-year end, when ISA maturities take place, and when annual mortgage statements are supplied to borrowers.

We are unable to directly comparing these figures with the same period in 2016 as rules around reporting changed following an industry review by our regulator, the Financial Conduct Authority. Our own analysis to look at the underlying position does demonstrate that the total number of complaints received relating to Home Finance (mortgages) has reduced by 58% and Savings by 37%. This combined with our most recent Net Promoter Score of +42 , compared to the market average of +6 , demonstrates the improvements we are making for customers.

Charles Canning, Chief Customer Officer at Yorkshire Building Society, said:

We work incredibly hard to make sure the service we provide is as good as it can be and of course ideally customers would not have cause to complain. But realistically there will always be occasions where customers are unhappy with their experience and it’s important that where complaints arise we investigate and resolve them quickly and efficiently.
I’m pleased to say that the figures for the first half of 2017 demonstrate that we continue to have a low level of complaints overall and a reduction in our underlying position which demonstrates we managed the busy ‘ISA season’ and annual mortgage statements period without seeing a significant spike in complaint volumes.
We are continually reviewing and improving our processes to make the service we give as smooth as possible and we hope that continues to result in a good experience for our customers.

Customers who are unhappy with a decision regarding a complaint investigated by financial services organisations can refer the issue to the Financial Ombudsman.

The Ombudsman publishes data about upheld complaints twice a year.\ Its latest figures, up to the end of December 2016, show it agreed with the Yorkshire’s decision in 85% of cases referred to it, well below the industry average of 58%, which should give consumers confidence in our complaint handling.

 

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