Dealer Zone Finance Calculator Quick Quote Apply Now

Complaints Policy

Purpose

The purpose of this document is to set out the standard procedure to be used on all complaints, whether verbal or written.

Definitions

FCA Financial Conduct Authority

TCF Treating Customers Fairly

MI Management Information Customer Any debtor, authorised third party

CCA Consumer Credit Act

Introduction

This document applies to all staff within New Look Loans, and their affiliate companies. The below statements are central to the implementation of this policy:

  • All staff must conduct themselves in a professional manner, in all interactions with customers and clients.
  • All staff must be aware that if a customer expresses dissatisfaction, whether verbally or in writing, a complaint needs to be recorded.
  • Team managers, 
where appropriate, must fully investigate the complaint, respond to the complaint and identify any training, system, process improvements or changes that may be required as a result.
  • Where appropriate, managers must implement the changes or advise directors.
  • An assigned complaints investigator must investigate all complaints in a thorough and independent fashion. They should respond to the complaint and identify any training, system or process improvements or changes that may be required.
  • Management team 
should use MI to understand trends, spot any potential operational risks and agree and implement any training, system or process changes that may be required.
  • This policy is in place to ensure that New Look Loans pays due regard to the interests of our customers (clients and debtors) and treats them fairly.

Policy

Our clients value our highly personal approach to consumer credit. We pride ourselves on providing a professional and efficient service, which provides each customer with a finance agreement, appropriate to his or her circumstances. We are committed to carrying out our activities with the highest level of quality and compliance. Our services are regulated and authorised by the Financial Conduct Authority (FCA), New Look Loans’ complaints procedures reflect these principles.

New Look Loans defines a complaint as; “any expression of dissatisfaction, whether oral or written, and whether justified or not, from or on behalf of an eligible complainant about the firms provision of, or failure to provide, a financial service.”

A complaint does not have to be submitted in writing. All complaints, written or not, as valid as long all, relevant, information has been obtained. This is sufficient for us to register the complaint.

New Look Loans view complaints as an opportunity to correct and reflect on mistakes. The Company also views this as an opportunity to drive out unwanted actions, thereby enabling us to constantly evolve our values. This ensures that our processes are vigorous and up-to-date, and that we are consistently delivering exemplary customer service.

Monthly TCF analysis is undertaken in line with FCA PRIN2.1.6. This is essential to ensuring that we are informed of any arising potential issues, and that we are compliant with our company and industry standards. Regular reviews provide insight on how to improve and, therefore, get it right first time. We are active in liaising with our clients on complaints and in particular with Contingent complaints under the eight principles of the Data Protection Act 1998; where we must make certain that we process data that is adequate, relevant and not excessive and accurate and up to date.

Where we have identified that we have made an error, we will correct the situation and/or offer compensation. Each complaint will be assessed individually and the redress offered will reflect the appropriate action and/or compensation required in each instance.

We do not pay out on unsubstantiated claims. Where a customer is asking to be reimbursed for costs incurred (telephone calls, bank charges or fees) as a result of errors or delays on our part, we do not require the complaint to be put in writing. However, we may require invoices/documentation to support the claim.

In all instances where we agree to pay compensation, we require an acceptance of settlement form from the customer before sending out the cheque.

Written Complaints

Written complaints procedures and processes include all complaints received via e-mail. The below process will be applied to all written complaints:

  • Each written complaint will be dated upon receipt to ensure all timescales are accurate.
  • The complaint will be logged on the complaint database.
  • Notes will be added to the database, in order to provide a substantial amount of information, into which an investigation can be conducted.
  • The complaints investigator should be informed of the complaint, and all complaints databases should be updated and timescales diarised.
  • Scan the complaint, filing it in the relevant scanning folder by date .
  • Complaint investigator will e-mail Manager with summary of complaint.
  • Identify the complainant; if from a Regulatory body, follow the process for Regulatory Complaints.
  • If the negotiator could have resolved this complaint, pass to the negotiators manager for further investigation. Update complaints database. Note: the complaints investigator will continue to monitor service levels on these complaints and will be responsible for ensuring compliance.
  • Otherwise; complaints investigator carries out a full and thorough investigation into the complaint.
  • If necessary refer to the client for further information. Ensure that the client is fully aware of all timescales involved and, where necessary, actively chase for a response.

By day 5; send either a full response or an acknowledgement letter. This letter should include: an explanation of why a different person is responding if it is not the person you addressed the complaint to, the name and job title of the individual handling the complaint, a timescale for when we will correspond further, which will be no more than 4 weeks from the receipt of your complaint and a copy of New Look Loans’s Complaints Procedure. The letter should also contain the below information: If we can’t agree an acceptable resolution to your complaint within eight weeks, we will send you a letter explaining the delay and giving you an estimation of when we expect provide a decision. Alternatively, we will send you a letter explaining our final position on the matter.

You may be eligible to refer your complaint to the Financial Ombudsman Service. The Financial Ombudsman Service is an independent body, which reviews complaints between firms, or between firms and their customers.  The firm itself must deal with the complaint in the first instance and only then will FOS step in. They aim to settle disputes within 6-9 months. They will examine all facts relating to the case.  If the dispute cannot be settled amicably between the two parties with Financial Ombudsman Service’s intervention as a mediator, then the Financial Ombudsman Service will make a decision based on a fair outcome. The Financial Ombudsman Service can assist with most financial complaints, but there are some limitations on what they can help with. For further information, please contact the Financial Ombudsman Service directly.

You can write to them at:

Financial Ombudsman Service, Exchange Tower, London, E14 9SR

Alternatively you can telephone: 0800 023 4 567.

Further helpful information can be obtained by visiting the Financial Ombudsman website: www.financial-ombudsman.org.uk A FOS leaflet must be sent with all final responses.

  • Update database; whether holding letter or final response sent. Notes must reflect the letter sent and the status should be updated if appropriate.
  • Update the complaints log.
  • If an acknowledgement letter is sent by day 5 because we are awaiting further information, then a suitable diary/chasing process needs to be instigated to ensure a timely reply.
  • By week 4, or upon receipt of further information, if prior to week 4, we must send the final response to the customer enclosing an FOS leaflet. If by week 4 we are still awaiting additional information, we must send an additional acknowledgement letter detailing the timescales for a final response. 
The letter should be written in the aforementioned format, and contain the same information. Templates of such letters are provided to management. An additional copy should be submitted to the regulator and the regulatory complaints reporting system.
  • Any third party, from whom we require information, should be chased throughout.
  • Update the complaints log
  • All logs and databases should be updated with notes and progress throughout.
  • By week 8, or upon receipt of further information if earlier, we must send the final response to the customer enclosing an FOS leaflet and reasons for our decision. If by week 8 we are still awaiting additional information, we must send an additional acknowledgement letter detailing the timescales for a final response. We should at this stage be actively chasing any third party for further information. 
This should follow the same format and process as before. Templates of such letters are provided to management. An additional copy should be submitted to the regulator and the regulatory complaints reporting system.
  • Update all logs and databases.
  • All letters and any correspondence relating to the complaint should be passed to complaint administrator who will ensure all documentation is scanned to the account. Electronic copies of all complaints should be kept on file. The original complaint should be archived.
  • NB: We are in breach if we do not send a letter on day 5, 4 weeks and 8 weeks and these will be highlighted in audit. The status of the account should remain on “Complaints and Compliance” until the complaint is closed.
  • Plain English must be used in all communications – www.plainenglish.co.uk
  • All letters should be in the official, headed format. Templates should be used at all times to ensure that they are compliant.
  • An FOS leaflet should be sent with every Final response. If we are offering redress then a pre paid envelope should be sent with the final response letter. 2. Regulatory complaints

The majority of regulatory complaints will be written but all should have gone through the same initial process for either a written or verbal complaint so when received by the complaints investigator, the following should have been completed:

  • Written complaint date stamped. The complaint logged on the complaints database by the area receiving the complaint. If written, the complaint will be scanned onto the account. Complaints databases and logs should be updated with as much information as possible.
  • Recognition of complaint form will have been completed for a verbal complaint. Templates have been provided to management.

The complaints investigator will e-mail the Contingent Collection manager with a summary of the complaint. A full investigation into the complaint will be carried out.

If necessary refer to the client for further information. Ensure that the client is fully aware of all timescales involved and where necessary actively chase for a response. Timescales should be followed as per the Regulatory Authority‟s request. However, by day 5 either a full response must be issued to the customer with a copy to the regulatory authority or an acknowledgement letter detailing the timescales for a final response (see template), again sending a copy to the regulator. A copy of  the Complaints Procedure must be enclosed with a holding letter and an FOS leaflet needs to be sent with all final responses. The complaints log must be updated at all points.

Verbal Complaints

In the event that a customer complains over the telephone the staff member should identify if the call is a genuine complaint or just a general moan:

  • Can it be resolved on the spot with an apology or explanation?
  • If it can be resolved, ensure complaints database is updated.
  • If it cannot be resolved, the call must be transferred to a team manager.
  • If no team manager is available, then log all details of the call onto the complaints database with everything that has been discussed. Arrange a convenient time for a call back and ensure the team manager has all the information they need to return the call.

In the event that a customer complains over the telephone the Manager should, again, identify if the call is a genuine complaint or a general moan:

  • Can it be resolved on the spot with an apology or explanation?
  • If it can be resolved, ensure complaints database is updated.
  • If it cannot be resolved, the call must be transferred to a complaints investigator.
  • If no complaints investigator is available, then log all details of the call onto the complaints database with everything that has been discussed. Arrange a convenient time for a call back and ensure the complaints investigator has all the information they need to return the call.

The complaints investigator must assess whether the complaint be resolved with an explanation or apology. In the event that the complaint can be resolved, the complaints database should be update accordingly. If it cannot be resolved all details should be logged on a Recognition of Complaint form. The customer should be advised that New Look Loans will be following our internal complaints process. In all instances the complaints database should be updated.

  • Complaint investigator will e-mail Manager with summary of complaint.
  • Identify the complainant; if from a Regulatory body, follow the process for Regulatory Complaints.
  • If the negotiator could have resolved this complaint, pass to the negotiators manager for further investigation. Update complaints database. Note: the complaints investigator will continue to monitor service levels on these complaints and will be responsible for ensuring compliance.
  • Otherwise; complaints investigator carries out a full and thorough investigation into the complaint.
  • If necessary refer to the client for further information. Ensure that the client is fully aware of all timescales involved and, where necessary, actively chase for a response.

By day 5; send either a full response or an acknowledgement letter. This letter should include: an explanation of why a different person is responding if it is not the person you addressed the complaint to, the name and job title of the individual handling the complaint, a timescale for when we will correspond further, which will be no more than 4 weeks from the receipt of your complaint and a copy of New Look Loans’s Complaints Procedure. The letter should also contain the below information: If we can’t agree an acceptable resolution to your complaint within eight weeks, we will send you a letter explaining the delay and giving you an estimation of when we expect provide a decision. Alternatively, we will send you a letter explaining our final position on the matter.

You may be eligible to refer your complaint to the Financial Ombudsman Service. The Financial Ombudsman Service is an independent body, which reviews complaints between firms, or between firms and their customers.  The firm itself must deal with the complaint in the first instance and only then will FOS step in. They aim to settle disputes within 6-9 months. They will examine all facts relating to the case.  If the dispute cannot be settled amicably between the two parties with Financial Ombudsman Service’s intervention as a mediator, then the Financial Ombudsman Service will make a decision based on a fair outcome. The Financial Ombudsman Service can assist with most financial complaints, but there are some limitations on what they can help with. For further information, please contact the Financial Ombudsman Service directly.

You can write to them at:

Financial Ombudsman Service, Exchange Tower, London, E14 9SR

Alternatively you can telephone: 0800 023 4 567.

Further helpful information can be obtained by visiting the Financial Ombudsman website: www.financial-ombudsman.org.uk A FOS leaflet must be sent with all final responses.

  • Update database; whether holding letter or final response sent. Notes must reflect the letter sent and the status should be updated if appropriate.
  • Update the complaints log.
  • If an acknowledgement letter is sent by day 5 because we are awaiting further information, then a suitable diary/chasing process needs to be instigated to ensure a timely reply.
  • By week 4, or upon receipt of further information, if prior to week 4, we must send the final response to the customer enclosing an FOS leaflet. If by week 4 we are still awaiting additional information, we must send an additional acknowledgement letter detailing the timescales for a final response. 
The letter should be written in the aforementioned format, and contain the same information. Templates of such letters are provided to management. An additional copy should be submitted to the regulator and the regulatory complaints reporting system.
  • Any third party, from whom we require information, should be chased throughout.
  • Update the complaints log
  • All logs and databases should be updated with notes and progress throughout.
  • By week 8, or upon receipt of further information if earlier, we must send the final response to the customer enclosing an FOS leaflet. If by week 8 we are still awaiting additional information, we must send an additional acknowledgement letter detailing the timescales for a final response. We should at this stage be actively chasing any third party for further information. 
This should follow the same format and process as before. Templates of such letters are provided to management. An additional copy should be submitted to the regulator and the regulatory complaints reporting system.
  • Update all logs and databases.
  • All letters and any correspondence relating to the complaint should be passed to complaint administrator who will ensure all documentation is scanned to the account. Electronic copies of all complaints should be kept on file. The original complaint should be archived.
  • NB: We are in breach if we do not send a letter on day 5, 4 weeks and 8 weeks and these will be highlighted in audit. The status of the account should remain on “Complaints and Compliance” until the complaint is closed.
  • Plain English must be used in all communications – www.plainenglish.co.uk
  • All letters should be in the official, headed format. Templates should be used at all times to ensure that they are compliant.
  • An FOS leaflet should be sent with every Final response. If we are offering redress then a pre paid envelope should be sent with the final response letter. 2. Regulatory complaints .

The majority of regulatory complaints will be written but all should have gone through the same initial process for either a written or verbal complaint so when received by the complaints investigator, the following should have been completed:

  • Written complaint date stamped. The complaint logged on the complaints database by the area receiving the complaint. If written, the complaint will be scanned onto the account. Complaints databases and logs should be updated with as much information as possible.
  • Recognition of complaint form will have been completed for a verbal complaint. Templates have been provided to management.

The complaints investigator will e-mail the Contingent Collection manager with a summary of the complaint. A full investigation into the complaint will be carried out.

If necessary refer to the client for further information. Ensure that the client is fully aware of all timescales involved and where necessary actively chase for a response. Timescales should be followed as per the Regulatory Authoritys request. However, by day 5 either a full response must be issued to the customer with a copy to the regulatory authority or an acknowledgement letter detailing the timescales for a final response (see template), again sending a copy to the regulator. A copy of  the Complaints Procedure must be enclosed with a holding letter and an FOS leaflet needs to be sent with all final responses. The complaints log must be updated at all points.

Reporting and Recording Procedure

If a customer expresses dissatisfaction, and the issues can be resolved within 24 hours, then this does not need to be registered as a complaint. However, we must be sure that all issues have been resolved to the customer’s satisfaction. If a customer makes a subsequent complaint, and we did not register the initial complaint, then we will be in breach of FOS/FCA guidelines. If in doubt, it is best to register the initial call as a complaint and mark it as resolved the same day. This way, if the customer does come back to us, we will have a record of previous discussions/actions taken. 
This is detailed to all staff as part of professionalism training. Comprehensive notes should be added to the complaints database and log.

CAR
FINANCE

At New Look Loans we will always strive to arrange the best rate we can, despite your credit history. Our large panel of lenders offer agreements to suit all budgets, lifestyles and circumstances!

View more

VAN
Finance

If you need a new or used van for your business or simply need a larger vehicle, New Look Loans can search their large panel of lenders to tailor a finance agreement for you!

View more

BIKE
Finance

New Look Loans works with some of the largest motorbike finance companies in the UK. Allow us to find a finance agreement which fits around your lifestyle and circumstances!

View more

Finance
Calculator

Don’t know your budget? Want a rough idea of what you can expect to pay? Our finance calculator has been designed to give a representative example of what you can expect when applying for finance.

View more