Your agreement may be eligible for compensation under the redress scheme if it meets the following criteria. Unless your agreement meets all the above conditions, it will not be eligible for review under this redress scheme. You can still make a complaint about your motor finance agreement by contacting our Commissions Complaints team at [email protected]. […]
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. However, several organizations are challenging the FCA’s motor finance redress scheme through […]
The Motor Finance Consumer Redress Scheme (redress scheme) is an industry-wide scheme introduced by the Financial Conduct Authority (FCA). It is designed to compensate customers who may have overpaid on motor finance agreements because, in the FCA’s view, certain arrangements (including commission arrangements) between lenders and brokers were not properly disclosed.
No. If you’ve asked a Claims Management Company or law firm to act on your behalf, we’ll contact them directly about your claim. You won’t receive separate communications from us.