Aggregate complaints data - Financial Conduct Authority

Latest aggregate complaints data

Published: 09/04/2014
We are publishing our half-yearly aggregate complaints data, updated to include the second half (H2) of 2013. The data now includes all complaints reported to us by firms with a reporting period end-date between 1 July and 31 December 2013.

By aggregate we mean the total number of complaints split into three different categories:

  • products − for example, banking or home finance (mortgages)
  • type of firm − such as a bank, building society or investment manager, and
  • the cause of the complaints − including advice, general administration or customer service

The figures are presented in Excel and PDF below with different tabs covering different data.

You can search for:

  • the number of complaints opened and closed by the firms
  • the number of complaints closed within eight weeks and the number of complaints upheld (where the firms agreed with the complaints), and
  • the total amount of redress or compensation paid by the firms

More information about the aggregate complaints data.

Highlights for 2013 H2[1]

The total number of complaints decreased by 15% to 2,479,029 in the second half (H2)[1] of 2013 compared with the previous period (2013 H1). However, this is still 36% higher than the number of complaints in 2010 H2 (Table 2.1 and Figure 1 below).

Figure 1: Total open complaints over time

Complaints by firm type

Complaints to non-deposit taking mortgage firms were down by 57% to 58,990 in 2013 H2 (Table 2.2). This was partly caused by changes to the financial year of Bradford & Bingley Plc, Mortgage Express and Northern Rock (Asset Management) plc[2]. This was also caused by firms changing categories in 2013 H1. For more information on how changes to firm categories can affect the data, please see our Technical Information page.

Complaints to general insurance intermediaries decreased by 18% to 323,935 in 2013 H2 and complaints to banks and building societies decreased by 14% to 1,583,351. Complaints about personal investment firms and securities and futures firms increased by 3% to 37,790 and 6,670 respectively.

Complaints by cause of complaint and type of product

Complaints caused by advising, selling and arranging fell by 21% to 1,507,575 (Table 2.3) and complaints about general insurance and pure protection products (including payment protection insurance) fell by 19% to 1,733,027 (Table 1, Table 2.1 and Figure 2 below).

Figure 2: Number of opened complaints by type of product

These falls were mainly driven by a fall in payment protection insurance (PPI) complaints, down 22% in 2013 H2 to 1,390,756 from 1,790,961 in 2013 H1 (Table 2a and Figure 3 below). 56% of all complaints were about PPI, down from 62% in 2013 H1; this compares with 7% at the start of the PPI series in 2009 H2.

Complaints about terms and disputed sums and charges decreased by 10% to 289,280 in 2013 H2, down 31% from 420,638 during the same period last year, mainly driven by a fall in complaints about credit cards. Arrears-related complaints decreased by 11% to 27,690 in 2013 H2, mainly driven by a fall in complaints about unregulated loans.

However, complaints about general administration or customer service increased by 2% to 604,196 in 2013 H2. This was mainly driven by a rise in complaints about current accounts and other general insurance products (Table 2.3).

Complaints about banking products fell by 3% compared with 2013 H1 and 23% compared with 2012 H2 to 558,991 (Table 2.1), the lowest since 2006 H2. This was driven by the continuing fall in complaints about unregulated loans, down by 8% in 2013 H1 to 32,699, credit cards, down by 14% to 140,829, and savings (including cash ISAs) and other banking products, down by 16% to 82,353 (Table 2a and Figure 3 below). Complaints about current accounts, however, increased by 8% to 303,110 in 2013 H2, reversing a declining trend seen since 2010 H1.

Complaints about other general insurance products (excluding PPI) increased by 3% to 321,812.

Figure 3: Percentage change in volume of opened complaints for the ten most complained about product types between 2013 H1 and 2013 H2.

Complaints about the investments product group decreased by 9% in 2013 H2 to 42,109 (Table 2.1). Within this product group, complaints decreased across all investment products except investment management or service (including platforms) (Table 2a). Notably, complaints about investment trusts decreased by 52% to 718 in 2013 H2, complaints about structured products decreased by 31% to 1,576, and complaints about investment bonds decreased by 18% to 7,184. Complaints about investment management or service (including platforms), on the other hand, increased by 28% to 8,336, up 64% from 6,492 during the same period last year.

Complaints about endowments decreased by 21% in 2013 H2 to 27,804, the lowest level since the start of the data set in 2006 H1.

Complaint handling

93% of complaints were closed within eight weeks in 2013 H2, compared with 92% in 2013 H1, and the highest percentage since the start of the data set in 2006 H1. Non-deposit taking mortgage firms closed the highest percentage within eight weeks, 98% in 2013 H2, up from 95% in the same period last year. This excludes data from Bradford & Bingley Plc, Mortgage Express and Northern Rock (Asset Management) plc[2].

Personal investment firms and investment management firms closed the lowest percentage at 92% (Table 3.1). 92% of general insurance and pure protection (including PPI) complaints were closed within eight weeks in 2013 H2, compared with 46% 2011 H2. 94% of banking complaints were closed within eight weeks in 2013 H2 falling from 95% in 2013 H1. 90% of investment complaints were closed within eight weeks, unchanged since 2012 H2 (Table 3.2 and Figure 4 below).

Figure 4: Percentage of complaints closed within 8 weeks by type of product

57% of complaints were upheld compared with 52% in 2013 H1 and 46% in 2012 H2. An increase in the percentage of complaints upheld was experienced across all product groups. In particular, uphold rates increased in 2013 H2 for home finance products (from 46% to 63%) and general insurance and pure protection products (53% to 60%). Securities and futures firms upheld the least as a percentage of closed complaints, 41% in 2013 H2. However, this has been gradually increasing since 2010 H2. Banks and building societies upheld the most as a percentage of closed complaints at 62% in 2013 H2, up from 54% in 2013 H1 and 47% in 2012 H2 (Table 4.1).

Redress

The total amount of redress paid increased from £2.55bn in 2013 H1 to £2.65bn in 2013 H2. This compares with £299m paid in 2009 H2. £2.49bn was paid for GI and pure protection products (including PPI), making up 94% of all redress payments, compared to £2.39bn in 2013 H1 and just over £3bn in 2012 H1 (Table 5.1). 81% of redress in 2013 H2 was paid by banks and building societies.


Notes 

  1. H1 means first half of the year (1 Jan to 30 June), H2 means second half of the year (1 July to 31 December).
  2. 2013 H2 excludes data for Bradford & Bingley Plc, Mortgage Express and Northern Rock (Asset Management) plc due to these firms changing their financial year from 1 January - 31 December to 1 April - 31 March. Complaints reporting is aligned to each firm’s financial year, so data for these firms will be included in the next publication for the first half of 2014 and will include complaints numbers between 1 July 2013 to 31 March 2014, covering a nine-month period instead of the usual six months. These 3 firms opened 45,018 complaints in 2013 H1.

Related links

Aggregate Complaints Data Charts (Figures 1, 2, 3 & 4)



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