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Complaints on finance issues soared 70% in the three months to June, according to the Financial Ombudsman Service.
Motor finance Hire purchase (motor) was the second most complained about product, behind credit cards, with 15,925 complaints, of which around three quarters are in relation to motor finance commission.
Over 90% of these motor finance commission complaints were brought by professional representatives.
In recent months, the Fincial Ombudsman has been consulting on a proposed case fee for professional representatives, aiming to make the fee model fairer and better reflect our costs.
An update on these proposals will be provided in the coming months.
Abby Thomas, chief executive and Chief Ombudsman of the Financial Ombudsman Service, said: “It’s concerning that we’re continuing to see large volumes of complaints, particularly considering the cost-of-living crisis.
“It’s vital that businesses are open and transparent with their customers, treating them with fairness and understanding.