Photo by kevin grieve on Pexels Barnet, a bustling London borough with a population of 389,300 (ONS Census 2021), has been affected by motor finance mis-selling. Based on calculations using ONS Census data and FCA estimates, an estimated 36,789 drivers in Barnet may have been impacted by these practices. ## How Motor Finance Mis-Selling Affected Barnet Local dealerships such as Sytner Barnet, Park Lane Barnet, HR Owen Barnet, and Lookers Barnet were involved in the sale of
Personal Contract Purchase (PCP) and
Hire Purchase (HP) finance agreements. These dealerships partnered with major lenders like
[Black Horse](https://mlj.org.uk/lenders/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). The mis-selling allegations primarily concern the way
[[discretionary commission](https://mlj.org.uk/glossary/discretionary-commission-arrangement)](https://mlj.org.uk/glossary/discretionary-commission-arrangement) arrangements were used to incentivise salespeople to push certain finance products over others. ## The FCA Motor Finance Investigation The Financial Conduct Authority (FCA) has been investigating a significant issue in motor finance since 6 April 2007, with the investigation period ending on 1 November 2024. This inquiry revealed that 12.1 million eligible agreements (FCA, March 2026) by mis-selling practices (FCA estimate), resulting in an estimated £7.5 billion total loss to consumers (FCA estimate). ## How Barnet Residents Can Check Their Finance Agreements To determine if your motor finance agreement was mis-sold, you should review the terms and conditions of your contract. Look for any indications that a discretionary
commission arrangement influenced the sale of your finance product. This might include unusual incentives or aggressive sales tactics by dealership staff. check the dates on your finance agreement to see if it falls within the investigation period from 6 April 2007 to 1 November 2024. Gather all relevant documents such as loan agreements, payment schedules, and any correspondence with your lender. ## How to
Complain Directly to Your Lender for Free If you suspect that your finance agreement was mis-sold, you can complain directly to the major lenders operating in Barnet: Black Horse (Lloyds Banking Group), 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; complaints are free of charge. If your lender does not resolve the issue to your satisfaction, you can escalate your complaint to the
Financial Ombudsman Service (
FOS) for further investigation. ## Sources and References - FCA estimates on motor finance agreements: 12.1 million (FCA estimate), £7.5 billion total (FCA estimate), £829 average per eligible agreement - Population data: ONS Census 2021 - Local dealerships in Barnet: Sytner Barnet, Park Lane Barnet, HR Owen Barnet, Lookers Barnet - Major lenders operating in the area: Black Horse (Lloyds Banking Group), MotoNovo Finance, Close Brothers Motor Finance, Santander Consumer Finance, Barclays Partner Finance, Alphera Financial Services (BMW) - Financial Ombudsman Service (FOS)
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.