PPI complaints set to rise in 2010/2011 - July 2010
The Financial Ombudsman Service looks likely to see Payment Protection Insurance complaints continue rise in 2010/11, after first quarter figures reveal there have already been 13,520 new complaints.
According to figures published in Ombudsman News today, 34 per cent of all complaints the FOS received in April, May and June related to PPI.
In 2009/10 the FOS received a total of 49,196 PPI complaints, but if the complaints continue at a steady pace for the rest of 2010/11 then total complaints will reach 54,080.
In Q1 this year the FOS received 1,721 complaints about mortgages, compared to 7,452 for the whole of 2009/10 and 357 about personal pensions, compared to 1,359 in 2009/10.
The Ombudsman says it will continue to publish snapshots of its workload on a quarterly basis.
It states: “This should make it easier for everyone to see the numbers and trends as they emerge throughout the year rather than only seeing the figures annually, after the financial year has ended.”
Source: Moneymarketing.co.uk
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