FOS publishes half yearly complaints data

The FOS has published its complaints data for the period July to December 2024. Key statistics include:

• an increase of nearly 50% in new complaints compared to the same period in 2023 (141,000 new complaints) – most of the increase attributable to banking and credit complaints, including those on motor finance commission;
• similar numbers of businesses making the returns (around 230);
• similar uphold rate – 33% as opposed to 36% the previous year; and
• a large increase in complaints from professional representatives – to 46% of new complaints during the period – mostly in relation to affordability or car finance.