Motor Finance Claims Stevenage - FCA Investigation

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Motor Finance Claims Stevenage - FCA Investigation

Last updated: 27 February 2026

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Stevenage, a town in Hertfordshire within the East of England region with a population of 90,400 (ONS Census 2021), has been affected by motor finance mis-selling. An estimated 8,543 drivers (calculated using ONS Census 2021 population data and FCA estimates) may have entered into unfair Personal Contract Purchase (PCP) or Hire Purchase (HP) agreements between 6 April 2007 to 1 November 2024.

How Motor Finance Mis-selling Affected Stevenage

Motor finance mis-selling in Stevenage predominantly involved local dealerships such as Marshall Motor Group Stevenage, Robinsons Motor Group Stevenage, Thurlow Nunn Stevenage, and Vindis Group Stevenage. These dealerships may have engaged in the sale of PCP or HP agreements that were not in line with the best interests of customers. The major lenders operating in Stevenage during this period included 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). These lenders may have been involved in the provision of finance products that were overpriced or unsuitable for customers.

The FCA Motor Finance Investigation

The Financial Conduct Authority (FCA) launched an investigation into motor finance mis-selling due to discretionary commission arrangements. This arrangement allowed dealerships and lenders to receive additional payments based on the type of finance agreement sold, which could incentivise them to push higher-cost options even if lower-cost alternatives were available. According to the FCA, 12.1 million eligible agreements (FCA, March 2026) across the UK may have been affected by these arrangements. The total value of mis-sold agreements is estimated at £7.5 billion (FCA estimate) (FCA, March 2026). This period spans from 6 April 2007 to 1 November 2024, covering a significant portion of motor finance agreements in Stevenage.

How Stevenage Residents Can Check Their Finance Agreements

Stevenage residents can check if they are covered by the FCA redress scheme. by reviewing their finance agreement documentation. Key elements to look for include the date range (6 April 2007 to 1 November 2024), and any evidence of discretionary commission arrangements or incentives that may have influenced the type of finance product sold. Gathering documents such as the finance agreement, loan terms, and any correspondence with the lender can help in assessing whether the agreement was mis-sold. It is advisable to compare your finance agreement against other available options at the time of purchase to see if you were overcharged or given an unsuitable deal.

How to Complain Directly to Your Lender for Free

Residents of Stevenage who believe they have been affected by motor finance mis-selling can complain directly to their lender for free. The major lenders operating in Stevenage include Black Horse, MotoNovo Finance, Close Brothers Motor Finance, Santander Consumer Finance, Barclays Partner Finance, and Alphera Financial Services (BMW). You do not need a claims management company to make this complaint; the process is straightforward and can be done directly with your lender. If you are unsatisfied with the response from your lender, you can escalate your complaint to the Financial Ombudsman Service (FOS) for free.

Sources and References

FCA estimates on motor finance mis-selling: 12.1 million eligible agreements (FCA, March 2026) (£7.5 billion total), £829 average per eligible agreement overcharge
Population data: ONS Census 2021
Local dealership groups: Marshall Motor Group Stevenage, Robinsons Motor Group Stevenage, Thurlow Nunn Stevenage, Vindis Group Stevenage
Major lenders in Stevenage: Black Horse (Lloyds Banking Group), MotoNovo Finance, Close Brothers Motor Finance, Santander Consumer Finance, Barclays Partner Finance, Alphera Financial Services (BMW)
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.

Frequently Asked Questions

How many drivers in Stevenage may have been affected by motor finance mis-selling?

Based on calculations using ONS Census 2021 population data and FCA estimates, approximately 8,543 drivers in Stevenage might be affected by motor finance mis-selling.

What should I do if I suspect that my motor finance agreement was mis-sold to me in Stevenage?

If you believe your motor finance agreement was mis-sold, the first step is to review your contract and gather any relevant documentation. You can then complain directly to your lender for free to seek resolution.

How common are motor finance agreements that have been mis-sold in Stevenage?

Motor finance agreements that were potentially mis-sold are a significant concern across the UK, including Stevenage. According to FCA estimates, 12.1 million eligible agreements (FCA, March 2026) may have been affected nationally.

What average loss might I face if my motor finance agreement was mis-sold in Stevenage?

If your motor finance agreement was mis-sold, you could potentially recover an average of £829 (FCA estimate) through a valid complaint to your lender.

Important: MLJ.org.uk is an independent information resource. We are not a claims management company, solicitor, law firm, or financial adviser. We do not process claims, take fees, or provide advice. Where the law gives you a right to complain or claim directly (to a lender, council, FOS, court, or regulator), you can do so without paying a third party. MLJ.org.uk is operated by Copious Ltd, registered in England and Wales, company number 11437826.