Latest figures showing that 34% fewer people living in Gosport contacted the Financial Ombudsman last year have been brought to the attention of local MP Caroline Dinenage. 

The Financial Ombudsman (FO) is a free service set up by law with the power to sort out problems between consumers and financial businesses. They recently published figures showing that during the last financial year (2014/15) there was a 34% reduction in people from Gosport contacting the FO helpline. This led to the FO taking on 782 complaints which required investigation, 409 fewer than in 2013/14 when 1,315 complaints were investigated

This represents a clear decline in the overall number of cases from people in Gosport over the last year. Although this is largely down to the number of PPI cases levelling off, in most areas across the UK there has actually been an increase in the number of complaints about other financial products.

Commenting on the figures, Caroline said:

“These figures clearly suggest that fewer people in Gosport are having to cope with financial problems associated with issues like PPI claims, bank accounts and mortgages. These cases can be hugely difficult and stressful, so it is good to hear that fewer problems are arising in our local area.

“However, it might also be the case that people in Gosport don’t know who to turn to when facing complex financial problems.

“The Financial Ombudsman Service exists to provide guidance, a channel for complaints and to raise consumer awareness of financial rights. It is really important that people use this valuable resource, which provides advice and assistance for both consumers and businesses.”

More information about the Financial Ombudsman service can be found here