UK Financial Ombudsman Service receives 40 per cent more cases when compared to the same time last year

The UK Financial Ombudsman Service (FOS) has announced it is continuing to receive high levels of complaints from consumers and small businesses, according to new figures.

The FOS noted the most complained about product this quarter was hire purchase (motor) which has risen due to complaints about motor finance commission arrangements, following Court of Appeal judgments against some lenders.

Issues about motor finance commission have driven the increase in both hire purchase (motor) and conditional sale (motor) complaints.

Interim Chief Ombudsman of the Financial Ombudsman Service James Dipple-Johnstone said, ‘We are continuing to see high volumes of motor finance commission cases and would encourage businesses to consider whether complaints are covered by the Financial Conduct Authority’s temporary complaint handling rules.

‘Ongoing legal proceedings are impacting our ability to issue final decisions in these cases, but we are putting steps in place to ensure we can resolve them as quickly as possible when we have the clarity we need.’

The full data set published by the FOS can be accessed here.