FOS has published its annual complaints data for April 2020 – March 2021. Key highlights include:
- an overall increase in new complaints of 2% from the previous year – but a 58% increase when PPI complaints are excluded;
- 40% of non-PPI complaints being resolved in favour of the consumer;
- a 66% increase in complaints about banking and credit products (over 170,000 complaints out of a total of 278,000), notably current accounts and unaffordable lending;
- an 83% uphold rate on home credit product complaints;
- 36% increase in insurance complaints;
- 91% increase in complaints about investments and pensions.