PPI complaints still reach 5,000 a week

22 July 2014

Complaints about payment protection insurance (PPI) continued to pour into the Financial Ombudsman Service (FOS) in the three months to July at a rate of almost 57,000 over the three-month period.

While that equates to up to 5,000 a week, it was still a reduction of more than half compared to around 132,000 the previous year.

The number of complaints upheld in the consumer's favour also fell from 78% to 61% over the same period.

The nature of PPI complaints received is said to be changing, however. Interim chief ombudsman Tony Boorman said: "Increasingly, we are asked to step in at a later stage - in cases where the settlement, not the mis-sale, is the point of dispute."

The FOS gave several examples of where cases had been upheld and included situations whereby consumers had told us that they wanted PPI alongside mortgages but were concerned that the policy they were sold wouldn't have ever paid out due to pre-existing medical conditions or circumstances relating to self-employment.


Behind PPI complaints in the Ombudsman's latest data were concerns regarding current accounts, though at just over 3,500 during the three-month period, they were still a drop in the ocean compared to PPI.

The amount of current account complaints was a few hundred down on the same quarter a year earlier but the number upheld in the consumer's favour rose from 31% to 35%.

The area in which most complaints were upheld was card protection insurance, whereby 80% of the time the FOS sided with the complainant. However, the ombudsman only received 381 during the quarter, down 545 from the previous year.

Overall, the number of complaints received by the ombudsman between April and June 2014 was 85,184, down significantly from 159,197 a year earlier.

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