Saturday, 23 January 2016

Fwd: problems people in Hyndburn contacted financial ombudsman about

Dear Mr Jones

I work for the Financial Ombudsman Service, the free service set up by law with the power to sort out problems between consumers and financial businesses.

I thought you might be interested in the number and types of complaints we received from your constituency over the last year.

• During the last financial year (2014/15), 892 people living in Hyndburn contacted our helpline – a decrease of 33% on the previous financial year.

• This led to our taking on 537 complaints which required investigation from people living in Hyndburn, down from 894 in 2013/14.

• We're currently upholding around 53% of complaints from Hyndburn in favour of the consumer. This meant we found that the business had not treated the consumer fairly, so we told the business to pay some form of compensation.

• The top 5 most complained about products from people living in Hyndburn were:

Packaged bank accounts
House mortgages
Credit card accounts
Current accounts

As you can see, we've seen a decline in the overall number of cases from people in your constituency over the last year. This is primarily down to the number of PPI cases levelling off from an all-time high of over 10,000 cases a week.

However, in most areas across the UK we've actually seen an increase in the number of complaints about other financial products – particularly banking and credit related products. So it's good to know that many people in Hyndburn know where to turn if faced with a financial problem.

But we tend to find that it's those people who don't know about us who need us the most. This is why we regularly host events and drop-in's for local communities interested in finding out more about our work in the community – or if you are running an event in Westminster, or your constituency, and would like us to come along – then please get in touch.

I hope you find this information useful. If you'd like more information about the role of the ombudsman – or would like complaints data for a neighbouring constituency – please let me know.

Many thanks

Emma Partington |communications officer | Financial Ombudsman Service
020 3487 3038| Twitter @financialombuds