The Mortgage Board is issuing a How to Complain guide for disgruntled borrowers who have been ripped off by unscrupulous mortgage firms.
The guide is being issued following a review of complaints received by the Mortgage Board's helpline in the last six months.
It found that 39 per cent of all complaints against brokers related to a failure to refund fees, which is mandatory under industry best practice guidelines.
Seventeen per cent of complainants thought the product they were sold by a broker did not meet their needs while 15 per cent believed that information provided by the broker was misleading.
Lenders also fared badly, with 24 per cent of complaints regarding original mortgage offers being changed by the lender at a later date.
Complaints about redemption charges accounted for 19 per cent of all grievances against lenders.
The guide is designed to make the complaint process easier, more open, understandable and accessible for customers.
Chief executive Luke March says: “Currently, some people who feel aggrieved are put off seeking a resolution because of the complexity and uncertainty of the complaints system. By making clear what is the most effective route of action, we hope our new guide will enable people to rectify their difficulties.”