Complaints
Complaints Handling Policy
We are committed to handling all complaints fairly, consistently, and promptly.
Part 1: General Principles
Paxford Finance Ltd maintains effective and transparent procedures for the reasonable and prompt handling of complaints. We do not charge customers for making a complaint and do not use premium-rate phone numbers.
We investigate all complaints fairly, consistently, and promptly and conduct root-cause analysis to identify and correct recurring or systemic issues. Although our commercial loan products are unregulated, we act in the spirit of FCA Principles 6, 7 and 12.
What is a Complaint?
A complaint is any expression of dissatisfaction, whether written or verbal, justified or not, relating to Paxford Finance's provision of or failure to provide a financial service.
Who Can Make a Complaint?
Any customer, business, individual or authorised representative.
Complaints Handling Process
1. Logging The complaint is recorded and categorised.
2. Acknowledgement Sent within 3 business days.
3. Information Gathering Documentation requested where necessary.
4. Investigation Conducted fairly, diligently, and impartially.
5. Updates Provided every 10 working days.
6. Final Response Issued within 8 weeks.
Root Cause Analysis
Conducted for all upheld complaints or when 10 or more complaints share an apparent cause within 12 months.
Part 2: Complaint Handling Rules
Complaints Resolved in 3 Business Days: A Summary Resolution Letter is issued.
Acknowledgement: Sent within 3 business days.
Holding Response: Sent at 4 weeks if unresolved.
Final Response: Sent within 8 weeks, outlining outcome and stating that Paxford Finance's products are unregulated and cannot be referred to the Financial Ombudsman Service.
Part 3: Record Keeping
A Complaints Log is maintained including dates, category, handler, status, root cause, and outcome. Records are retained for a minimum of 3 years.
Part 4: Closing a Complaint
A complaint is closed when a Final Response is issued, acceptance is received, or no reply is received 8 weeks after written communication.
A complaint is resolved when the complainant accepts the response. All customers are reminded that unregulated lending complaints cannot be referred to the Financial Ombudsman Service.