Wednesday, 19 October 2011

25% increase in financial product complaints!!!

According to the Financial Ombudsman Service, between the months of July 2011 and September 2011 the number of complaints regarding financial products has increased by nearly 25%. In the second quarter of 2011-12, the ombudsman has received a 24% increase in complaints, taking the total from 25,276 (the number of complaints received in the same time period in 2010-11) to 31,386, excluding the service of payment protection insurance. However the total number of complaints has decreased by 19,259 from the 56,025 cases between April and June 2011. Top of the list of reasons for complaints was credit card accounts (11.5%) closely followed by current accounts (8.5%), then mortgages (5.5%) and finally car and motorcycle insurance (4%). In search of conveyancing? Need to compare quotes? Visit us for your free quote today!!!

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