The FOS has published its complaints data for 2024/25, which shows that over 305,000 complaints were received – this is a 54% increase on the number received in 2023/24, and the highest yearly total of complaints since the PPI saga in 2018/19.
Significant increases were seen across most of the main product areas, with some issues and products at their highest ever recorded complaints level – namely, motor finance commission, fraud and scams, and credit cards. The FOS notes that this is putting substantial pressure on the current redress system, and that it is working closely with HM Treasury and FCA to modernise the dispute resolution system.
The data also showed that:
- Around half of the total complaints received were brought by professional representatives (up from 25% in the previous year);
- The FOS upheld 34% of complaints in the consumers’ favour (down from 37% in the previous year), and around 37% of cases brought directly by consumers were upheld; and
- 227,253 complaints were resolved (an 18% increase on the previous year).
The most complained-about products were:
- Hire purchase (motor);
- Credit cards;
- Current accounts;
- Car or motorcycle insurance; and
- Conditional sale (motor).