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Hammersmith and Fulham, a bustling London borough with a population of 185,400 (ONS Census 2021), is home to many affected drivers who may have been victims of motor finance mis-selling between 6 April 2007 and 1 November 2024. This figure was calculated using ONS Census 2021 population data and FCA estimates.
How Motor Finance Mis-Selling Affected Hammersmith and Fulham
Motor finance agreements, particularly Personal Contract Plans (PCPs) and
Hire Purchase (HP), were aggressively promoted by local dealerships in Hammersmith and Fulham. Dealers such as Sytner Hammersmith and Fulham, Park Lane Hammersmith and Fulham, HR Owen Hammersmith and Fulham, and Lookers Hammersmith and Fulham played significant roles in selling these products to residents. These dealerships often had agreements with major lenders operating in the area, including
Black Horse (Lloyds Banking Group),
MotoNovo Finance,
Close Brothers Motor Finance,
Santander Consumer Finance, Barclays Partner Finance, and
[Alphera](https://mlj.org.uk/lenders/alphera-financial-services) Financial Services (BMW).
Dealers were incentivised through
discretionary commission arrangements, which meant they could earn additional payments for steering customers towards more expensive finance deals. These incentives may have led to the mis-selling of motor finance products, where unsuitable agreements were pushed on consumers, potentially leading to overpayment or financial strain.
The FCA Motor Finance Investigation
The Financial Conduct Authority (FCA) launched an investigation into discretionary commission arrangements in 2016, which revealed that millions of motorists had been affected. Over the period from 6 April 2007 to 1 November 2024, it was estimated that 12.1 million eligible agreements (FCA, March 2026) potentially mis-sold (FCA estimate). This mis-selling resulted in a total overpayment of £7.5 billion across all motor finance deals, with an average cost per affected customer being approximately £829 (FCA estimate).
The investigation found that many consumers had entered into motor finance contracts without fully understanding the terms or potential costs involved.
How Hammersmith and Fulham Residents Can Check Their Finance Agreements
To determine whether your motor finance agreement was mis-sold, residents should review their documentation carefully. Key elements to look for include:
- Dates of Agreement: Ensure that your contract falls within the period from 6 April 2007 to 1 November 2024.
- Dealer Incentives: Check if there were any incentives or commissions involved in selling your finance agreement.
- Terms and Conditions: Look for clauses indicating high interest rates, hidden fees, or terms that seemed unfair at the time.
Gathering all relevant documents such as original contract agreements, loan offers, and correspondence with lenders will help build a strong case when making a complaint.
If you suspect your motor finance agreement was mis-sold, it is important to contact your lender directly. The major lenders operating in Hammersmith and Fulham include Black Horse (Lloyds Banking Group), MotoNovo Finance, Close Brothers Motor Finance, Santander Consumer Finance, Barclays Partner Finance, and Alphera Financial Services (BMW). You can complain directly to your lender for free without the need for a
claims management company.
Your complaint should detail how you believe the agreement was unsuitable or mis-sold. If your lender does not resolve your issue satisfactorily, you may escalate your concern to the
Financial Ombudsman Service (
FOS) at no cost.
Sources and References
- FCA
- Financial Ombudsman Service (FOS)
- Office for National Statistics (ONS Census 2021)
Car Finance Compensation in Your Area
The FCA confirmed that 12.1 million motor finance agreements across the UK qualify for compensation. The FCA-estimated scheme average of £829 per eligible agreement per agreement, totalling £7.5 billion in redress. If you took out PCP or HP car finance between 6 April 2007 and 1 November 2024, your agreement may be eligible regardless of where you live in the UK.
The final deadline to complain is 31 August 2027. You can complain to your lender directly for free. You do not need a claims management company.