PPI complaints soar by 57%

The figure represents a 57% hike on the 19,259 recorded between July and October 2011 and is the equivalent of nearly a third of PPI complaints received in the 2010/11 year.

The rise means that year to date, the FOS has received 104,597 complaints.

In terms of resolution of complaints, the final three months saw 68% resolved in favour of the customer, a drop from 92% the previous quarter.

At the start of this year, the FOS published its budget for the year in which it predicted that it would