Charter Court Financial Services is an award-winning organization that offers a range of mortgage and savings products to its clients in the UK. Despite its positive reputation, the company has been hit with an increasing number of complaints, which raises questions about its overall business operations.
So, what is happening with Charter Court Financial Services complaints, and how are they managing these complaints?
The Number of Complaints Has Increased
According to the Financial Ombudsman Service (FOS), Charter Court Financial Services has had an increasing number of complaints from clients in recent years. In 2018, the company had 17 complaints, and in 2019, the number rose to 28.
While this may not seem like a lot, it is important to consider that the company has a relatively small client base compared to larger financial organizations. As such, the increase in complaints could be a sign of larger problems within the organization’s business operations.
The Types of Complaints
One of the key issues that Charter Court Financial Services clients have complained about is the quality of customer service. Many clients have reported long wait times on the phone, unreturned emails, and overall poor communication from the company.
Another area of complaints is related to the mortgage application process. Clients have reported that the process is lengthy, confusing, and that there are errors made during the application process.
Additionally, clients have reported issues with mortgage interest rates, unexpected fees, and incorrect or incomplete information on their mortgage statements.
Is Charter Court Financial Services Addressing These Complaints?
Charter Court Financial Services has acknowledged these complaints and has taken steps to address them. The company has established a customer service team, which has been trained to provide prompt and efficient service to clients.
They have also introduced a new mortgage platform, which has streamlined the application process and reduced errors in the application process. Through this new platform, clients can also track the status of their mortgage application and receive regular updates.
In addition to these steps, Charter Court Financial Services has also implemented a series of internal reviews to identify areas where improvements can be made. This includes reviewing the company’s policies and procedures, as well as training their staff on how to improve customer service and avoid errors during the mortgage application process.
Are These Measures Enough?
While Charter Court Financial Services has taken several steps to address client complaints, some experts believe that more needs to be done.
For instance, the Financial Conduct Authority (FCA) has stated that they will be conducting a review of the company’s business operations to ensure that it is in compliance with industry regulations. This review will examine how the company handles complaints and whether they are providing adequate support to their clients.
Additionally, some industry experts have suggested that the company needs to improve its transparency with its clients. This includes providing more detailed information about its mortgage products and disclosing potential fees or charges that clients may incur.
Conclusion
Charter Court Financial Services has seen an increase in complaints from clients in recent years. This increase has raised concerns about the company’s overall business operations and its ability to provide quality service to its clients.
While the company has taken steps to address these complaints, there is still more that needs to be done. This includes improving customer service, providing more detailed information about their products, and being more transparent with their clients.
By taking these steps, Charter Court Financial Services can not only address their current complaints but also improve their overall business operations and ensure that they are providing quality service to their clients.