Is it worth trying the Ombudsman?

[Deleted User]

sussexbhoy wrote: »

I'm not the OP by the way

Yes, I realised after posting that you have been needlessly "challenging" such quoted statistics since at least 2017.

Not much point "challenging" them now, after the last PPI complaint has been made...

antrobus

sussexbhoy wrote: »

If someone is going to put out a statistic like that then it should be backed up with some sort of proof.

I'm not the OP by the way

FOS complaints stats are here;
https://www.financial-ombudsman.org.uk/data-insight/business-complaints-data

The PPI uphold rate is 20%. FOS are on record as stating that they uphold fewer complaints about MPPI than other types of PPI. It is certainly believable that the rate is 10%, although I'd offer the opinion that it's a lot less.

And of course, not all complaints get referred to the FOS. My guess would be that fewer than 1 in a 100 MPPI complaints actually succeed.

sussexbhoy

antrobus wrote: »

FOS complaints stats are here;
https://www.financial-ombudsman.org.uk/data-insight/business-complaints-data

The PPI uphold rate is 20%. FOS are on record as stating that they uphold fewer complaints about MPPI than other types of PPI. It is certainly believable that the rate is 10%, although I'd offer the opinion that it's a lot less.

And of course, not all complaints get referred to the FOS. My guess would be that fewer than 1 in a 100 MPPI complaints actually succeed.

This is direct from the FCA
The uphold rate for the regular premium mortgage PPI product (the type we previously
assessed as least prone to poor selling practices) is now around 50%, and we are comfortable
with most firms’ approaches to these complaints.

[Deleted User]

sussexbhoy wrote: »

The uphold rate for the regular premium mortgage PPI product (the type we previously
assessed as least prone to poor selling practices) is now around 50%, and we are comfortable
with most firms’ approaches to these complaints.

It obviously no longer matters what the statistic is or was..

sussexbhoy

Moneyineptitude wrote: »

It obviously no longer matters what the statistic is or was..

I agree, but it just goes the show the amount of mis-information on this forum that could potentially put people off making complaints or taking them further.

[Deleted User]

sussexbhoy wrote: »

it just goes the show the amount of mis-information on this forum that could potentially put people off making complaints

Thanks for the warning. :eek:

You've left it a little late, considering the last allowed PPI complaint was over a month ago now. :beer:

SonOf

Plevin awards were classed as upheld complaints. This distorted the figures upwards. If you remove Plevin awards, then the figure is lower.