In 2023 H2, home finance complaints rose by 3.7% from 91,470 in H1 to 94,822, new data from the Financial Conduct Authority (FCA) has revealed.
Overall, financial services firms received 1.87 million complaints throughout the second half of 2023, marking a slight decrease of 1% from H1.
What’s more, the financial watchdog also found that since the Payment Protection Insurance (PPI) peak in 2020, complaints have stayed relatively constant between 1.8 million and two million.
Complaints around banking and credit cards were up 3.2% from 847,497 in H1 to 874,568, while insurance and pure protection complaints were down 5.8% from 800,253 to 753,192.
Decumulation and pensions complaints were also down 2.8% from 88,058 to 85,547, while current accounts and motor and transport both saw 1% increases.
During this period,. the total amount of redress was recorded at £259m, marking a 10% increase when compared to H1.
