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Exactly what are the many complained about financial loans?

If you have been driven to distraction by way of a economic company, then a Financial Ombudsman provider (FOS) might be able to assist.

You can take your complaint to the FOS, an independent arbitrator if you have an issue with a financial product, from mortgages to ISAs, and the provider isn’t playing ball.

The FOS has simply released its information because of its quarter that is third to December 2019), addressing not merely exactly how many complaints had been made, but additionally what forms of products drawn our ire the absolute most.

It absolutely was the busiest quarter associated with year thus far, with a complete of 83,754 brand new complaints – around a third (34%) for the complaints had been upheld because of the Ombudsman.

Therefore, exactly what are we complaining about?

The PPI saga is not quite over yet

Maybe unsurprisingly, there is an increase in complaints pertaining to PPI between October and December.

As a whole, there were more than 41,000 complaints about that hated item reaching the desk associated with FOS, meaning it accounted for pretty much 50 % of the organisation’s workload. (more…)