Key findings for H1 2024 include:
- Compared to H2 2023, there was a 4% decrease in complaints to financial services firms.
- The product groups that experienced an increase in complaints were decumulation and pensions (up 7.1%), insurance and pure protection (up 1.4%) and investments (up 2.1%).
- The product groups that experienced a decrease in complaints were banking and credit cards (down 9.6%) and home finance (down 1.7%).
- There were decreases in the three most often complained about products which are current accounts (down 4.5%), motor and transport (down 1.7%) and credit cards (down 4.4%).
- The total amount of redress was £243m. This was a 6.9% decrease on the 2023 H2 figure of £261m.