Non-bank lenders get most complaints

Non-bank lenders continued to top the list of disputes over mortgages according to a report from the Financial Ombudsman Service. GE Money was the worst offender, averaging 434 disputes per 100,000 customers. RHG, which previously traded as Rams Home Loans, averaged 319 disputes.

Among the big banks, National Australia Bank had the highest ratio, with 66 disputes for every 100,000 customers.

Macquarie Bank topped complaints for credit cards, with 48 for every 100,000 customers.

Deposit products generate relatively few complaints, but HSBC topped the list, averaging 12 disputes for every 100,000 customers.

The Australian Bankers Association said the share of disputes handed by the Financial Ombudsman relating to financial difficulties was well below the banks' market share.

Source: The Age

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