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The Financial Ombudsman Service (FOS) is the organisation that handles complaints against financial organisations, whether it’s about pensions, bank account charges or PPI – these are the guys that referee the banking industry. They will have the final say on whether you were mis sold PPI or not (if your complaint goes that far) so it’s important you know a little about how they work. Remember that if you’re considering making a PPI claim you should always speak to the loan provider first and if you don’t get a satisfactory answer; then go to the Ombudsman.

Over £50bn spent on PPI policies

The Ombudsman is dealing with over 2000 new PPI claims each day, helping millions of people get back billions in compensation. It is estimated that over £50 billion worth of PPI policies were sold by hundreds of different financial businesses over the last ten to fifteen years. No wonder then that mis sold PPI is being called the biggest mis-selling scandal in financial services history and is expected to take years to sort out.

To tackle the backlog of claims the FOS has hired 1,000 new casehandlers (with plans to hire a further 1000) and 50 new ombudsmen to help review and decide individual PPI cases. Mis sold PPI may have cost UK consumers billions for worthless cover and eroded any trust we had in our local bank, but at least it’s providing jobs – PMA and all that.

Help and advice

Making a PPI claim alone can be a daunting prospect, it involves time, effort and a lot of searching for paperwork, it’s part of the Ombudsman’s remit to provide help for those wanting to start their own financial complaint. You can find lots of advice at their website and a PPI questionnaire here, the questionnaire will help you put together all of the relevant information to make a PPI complaint on your own.

‘We look carefully at both sides of the story’

The FOS is currently reviewing most complaints about PPI as the majority are rejected by the bank or lender and the good news is: it’s upholding around two thirds of them – on average – in favour of the consumer.

In the words of the FOS: “We look at both sides of the story and f we decide the bank or financial business has treated you fairly – and did not mis-sell your PPI policy – we will explain why. But if we decide that the business acted wrongly, we can order it to put things right.”

Shortcut summary: The Financial Ombudsman Service (FOS) handles complaints against regulated financial institutions, they are currently handling 2000 new PPI claims cases a day and offer help and advice about making a complaint. You should always complain to your lender/bank first and if they reject it – go to the Ombudsman, it is upholding – on average – two thirds of complaints in favour of the consumer.

This is part 12/15 – continue your PPI claims education…

PPI Claims 101 – 1/15 | What is PPI?
PPI Claims 101 – 2/15 | Should I Bother Making a PPI Claim?
PPI Claims 101 – 3/15 | How To Claim Back PPI Yourself
PPI Claims 101 – 4/15 | How To Find The Best PPI Claims Company
PPI Claims 101 – 5/15 | No Win No Fee PPI Claims Explained
PPI Claims 101 – 6/15 | What is a PPI Template Letter?
PPI Claims 101 – 7/15 | Credit Card PPI Claims
PPI Claims 101 – 8/15 | Mortgage PPI – The Hidden Windfall
PPI Claims 101 – 9/15 | PPI Claims Deadline – Forget One, Remember The Rest
PPI Claims 101 – 10/15 | The Information You’ll Need To Make a PPI Complaint
PPI Claims 101 – 11/15 | What To Do If Your PPI Claim Is Rejected
PPI Claims 101 – 12/15 | The Financial Ombudsman & PPI Claims
PPI Claims 101 – 13/15 | Payment Protection Insurance Consumer Questionnaire
PPI Claims 101 – 14/15 | How Long Does a PPI Claim Take?
PPI Claims 101 – 15/15 | Do I Need To Pay Tax On My PPI Refund?

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By John Gregory

John writes for a as well as a number of financial blogs, he also create content for infographics, FAQ’s and personal finance sites. You can find him on Google+ and Twitter, get in touch – he doesn’t bite. Unless you’ve been mis-selling financial products.


MARCH 23RD 2020

At this time we are continuing business as usual however our team will now largely be working from home. This limits our phone contact availability. Customer support remains available Monday to Friday but please email in to with your query. We aim to get back to you within 48 hours. On receipt of PPI refunds our fees remain payable and can be paid via our website or via BACS. We are also working on some other areas of potential claim for you in connection with your PPI and will be in touch shortly where applicable to present this to you.

IMPORTANT:The last day we can accept a new claim is Friday 23rd August – midday – to ensure the paperwork is properly processed and lodged with your lender before the cut-off time.