The redress scheme covers regulated motor finance agreements that were entered into between 6 April 2007 and 1 November 2024. This includes Conditional Sale, Hire Purchase and Personal Contract Purchase (PCP) agreements. There are two separate schemes depending on when your agreement started.
- Scheme 1 covers motor finance agreements that were entered into between 6 April 2007 and 31 March 2014 (inclusive).
- Scheme 2 covers motor finance agreements that were entered into between 1 April 2014 and 1 November 2024 (inclusive).
However, several organizations are challenging the FCA’s motor finance redress scheme through the courts. Because of this, it may take longer than usual to resolve your complaint, and you may not receive an outcome until next year. Once we know more about the timescales, we will update our website with more information.
If you are not due any compensation under the scheme, we will contact you by 18 November 2026 for agreements that started after April 2014 (if you complained before 30 June 2026), and before 18 January 2027 for agreements that started before April 2014 (if you complained before 31 August 2026), to let you know.
If you complained after these dates, and are not owed compensation, we will write to you within 5 months of receiving your complaint.
This excludes complaints that concern:
- A contractual tie between the broker and the lender, but where there was a clear visible link between the lender, manufacturer and franchised dealer.