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ombudsman news

issue 123

January/February 2015

ombudsman focus: third quarter statistics

We regularly publish updates in ombudsman news about the financial products people have complained about - and what proportion of those products we have upheld in favour of consumers.

In this issue of ombudsman news we focus on data for the third quarter of the financial year 2014/2015 - showing how many enquiries and new complaints we received, the numbers of complaints passed to an ombudsman for a final decision and what proportion we resolved in favour of consumers.

During October, November and December 2014:

  • Consumers referred a total of 74,357 new complaints about financial businesses - of which 48,516 were complaints about payment protection insurance (PPI).
  • The ombudsman received around 4,000 new PPI complaints each week. Bank accounts and mortgages were the next most complained about financial products.
  • During the quarter the proportion of complaints we upheld in favour of consumers ranged between 85% (for card protection insurance complaints) and 3% (for complaints about state earnings-related pensions (SERPs)). The PPI uphold rate for the year to date is 59%.
the financial products that consumers complained about most to the ombudsman service in October, November and December 2014 %
payment protection insurance (PPI) 66%
complaints about other products 34%
the financial products that consumers complained about most to the ombudsman service in October, November and December 2014 %
packaged bank accounts 6%
current accounts 4%
house mortgages 3%
credit card accounts 2%
car and motorcycle insurance 2%
overdrafts and loans 2%
buildings insurance 1%
mortgage endowments 1%
term assurance 1%
complaints about other products 12%

what consumers complained about most to the ombudsman service in October, November and December 2014

image:ombudsman news

ombudsman news gives general information on the position at the date of publication. It is not a definitive statement of the law, our approach or our procedure.

The illustrative case studies are based broadly on real-life cases, but are not precedents. Individual cases are decided on their own facts.