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FOS received 69,000 complaints in Q2

Jake Carter

November 9, 2020

complaints

The Financial Ombudsman Service received 68,735 complaints in the second quarter of the financial year, up 19% on Q1.

Moreover, the ombudsman service received over 5,900 complaints in relation to COVID-19 over the same timeframe.

In total, it has now received 10,000 COVID-19 related complaints.

Looking to complaints on credit, guarantor loans rose by 296%, complaints about home credit increased by 97% and complaints on credit cards saw a 26% uplift when compared to Q1.

According to the ombudsman service, PPI remains the most complained about product, with 12,800 complaints in Q2.

The Financial Ombudsman Service upheld 32% of complaints in the consumers’ favour in Q2. Excluding PPI, where the uphold rate was 41%.

Furthermore, the total number of consumer enquiries was noted at 119,214, which is a 10% rise on Q1.


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