How to Make a Complaint About a Lender or Broker

You have the right to complain if you believe a lender or credit broker has treated you unfairly, made a mistake or failed to provide the service it described.

You can make the complaint yourself for free. You do not need a solicitor or claims management company.

A clear complaint should explain what happened, how it affected you and what you would like the business to do. It does not need to contain legal language.

1. 01 Complain to the businessSend a formal complaint with your evidence.
3. 02 Wait for its final responseMost firms have up to eight weeks to reply.
5. 03 Contact the Ombudsman if neededFree and independent. Usually within six months of the final response.

First, identify which business caused the problem

A lender and a broker have different roles.

The lender provides the money, sets the loan terms, collects repayments and manages the credit agreement.

A credit broker introduces applicants to lenders or other brokers. It does not normally make the final lending decision or provide the loan.

Check your credit agreement, emails and bank statement to find the lender’s name. The website where you applied may have been the broker rather than the lender.

If different businesses were responsible for different parts of the problem, you may need to send separate complaints.

Step 1: Gather the important information

Before writing, collect anything that helps explain what happened.

This might include:

• Your loan or application reference
• The date you applied
• A copy of the credit agreement
• Emails, letters or text messages
• Screenshots of relevant pages
• Bank statements showing disputed payments
• Notes of telephone calls
• The names of people you spoke to

Write down the sequence of events while it is still clear. Include dates where possible.

Only send information that is relevant. Never include an online banking password, card PIN or one time security code.

Step 2: Tell the business it is a formal complaint

Contact the business using the complaints details shown on its website or in your agreement.

Put Formal complaint in the subject line. This makes the purpose of your message clear.

Your complaint should include:

1. 01Your name and contact details
2. 02An account or application reference
3. 03What happened
4. 04When it happened
5. 05Why you believe something went wrong
6. 06How the issue affected you
7. 07What you would like the firm to consider doing

Possible outcomes could include correcting a mistake, explaining a decision, updating account information, refunding an incorrect charge or reviewing how you were treated.

Requesting an outcome does not mean the firm must agree to it.

Build your complaint

Example complaint letter

Step 3: Keep a record

Save a copy of the complaint and everything you send with it.

If you complain by telephone, ask the firm to record it as a formal complaint. Make a note of:

• The date and time
• The number you called
• The name of the person you spoke to
• What was discussed
• Any complaint reference provided

Following a telephone complaint with an email can create a useful written record.

How long does the business have to respond?

For most financial complaints, the business has up to eight weeks to investigate and send its final response.

The final response should explain:

• Whether the complaint has been accepted or rejected
• The reasons for the decision
• Any action the firm proposes
• How to contact the Financial Ombudsman Service

Some types of financial complaint have different response periods. The final response should explain the deadline that applies to your case.

What if you disagree with the response?

You may be able to take the complaint to the Financial Ombudsman Service.

The Financial Ombudsman Service is independent and free for consumers. It can consider complaints about many regulated lenders and credit brokers.

You can normally contact it when:

• The business has sent its final response and you remain unhappy
• The business has not provided its response within eight weeks

You usually need to refer the complaint within six months of the date on the final response letter. Other time limits can also apply, so do not delay.

The Ombudsman may consider late complaints in limited circumstances. Contact it directly if you are unsure.

What should you send to the Ombudsman?

Provide:

• Your original complaint
• The firm’s final response
• Relevant agreements and statements
• Important emails or messages
• A short timeline
• Evidence of any loss or other effect

The Ombudsman will consider the facts and ask the business for its side of the story. Making a referral does not guarantee that the complaint will be upheld.

You can submit the complaint yourself. You do not need to pay a claims management company to represent you.

Should you complain to the FCA?

The Financial Conduct Authority regulates financial firms, but it does not investigate or decide individual disputes between consumers and businesses.

You can give the FCA information about possible misconduct, an unauthorised firm or a scam. However, an individual complaint about a lender or broker should normally be made to the business first and then to the Financial Ombudsman Service when appropriate.

Use the FCA Firm Checker to check whether a business is authorised and has permission to provide the relevant service.

What if the complaint is about personal data?

Complain to the business first if you believe it:

• Used your personal information incorrectly
• Shared your details without a proper reason
• Failed to correct inaccurate personal information
• Continued unwanted marketing after you objected

If the business does not resolve the data protection concern, you may be able to complain to the Information Commissioner’s Office.

A dispute about the fairness of a loan and a complaint about how personal information was used are not always the same issue. Different organisations may deal with each part.

Complaining about LoansForBadCreditUK.co.uk

LoansForBadCreditUK.co.uk is a credit broker, not a lender.

Contact us if your complaint concerns:

• How our website or broker service was presented
• How we handled your application
• Marketing sent by us
• How we collected or used your information
• The service you received from us

If your complaint concerns the loan agreement, repayments, interest, charges or the lending decision, you will normally need to contact the lender named in your agreement.

If you are uncertain, send us your application reference and a short explanation. We will confirm whether the matter relates to our broker service. Do not send passwords, PINs or security codes.

Frequently asked questions