Motor Finance Claims Hackney - FCA Mis-Selling Investigation

Home › Areas › Motor Finance Claims Hackney - FCA Mis-Selling Investigation

Motor Finance Claims Hackney - FCA Mis-Selling Investigation

Last updated: 27 February 2026

Hackney - mlj.org.uk — Photo by kevin grieve on Pexels

Hackney, a bustling borough within Greater London with a population of 259,200 (ONS Census 2021), has seen an estimated 24,494 drivers affected by motor finance mis-selling from 6 April 2007 to 1 November 2024 (calculated using ONS Census 2021 population data and FCA estimates). This significant number highlights the importance for residents to understand how they can check their agreements and address any potential issues directly with lenders.

How motor finance mis-selling affected Hackney

Motor finance mis-selling has been a widespread issue in Hackney, impacting many of its residents. Local dealerships such as Sytner Hackney, Park Lane Hackney, HR Owen Hackney, and Lookers Hackney were involved in selling Personal Contract Purchase (PCP) and Hire Purchase (HP) agreements to customers. These dealerships partnered with major lenders including [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 issue arose due to the discretionary commission arrangements that these lenders had with their dealer partners.

The FCA motor finance investigation

The Financial Conduct Authority (FCA) launched an extensive investigation into the motor finance industry, uncovering significant mis-selling practices. It was found that 12.1 million eligible agreements (FCA, March 2026) by these practices from 6 April 2007 to 1 November 2024, resulting in a total of £7.5 billion in overcharged amounts (FCA estimate). On average, each affected customer paid an additional £829 due to misleading sales tactics and unfair commission structures (FCA estimate).

How Hackney residents can check their finance agreements

Residents of Hackney who suspect they may have been a victim of motor finance mis-selling should take proactive steps to review their agreements. Key dates to look for are from 6 April 2007 to 1 November 2024, as this period marks the timeframe when the FCA identified issues within the industry. Important documents to gather include your original finance agreement, any additional documentation provided by the dealership or lender, and records of communications with the finance provider.

How to complain directly to your lender for free

If you discover that you have been affected by motor finance mis-selling, it is crucial to know that you can complain directly to your lender for free. Major lenders operating in Hackney include Black Horse (Lloyds Banking Group), MotoNovo Finance, Close Brothers Motor Finance, Santander Consumer Finance, Barclays Partner Finance, and Alphera Financial Services (BMW). By contacting these lenders directly, you can address any concerns without the need for a claims management company. You do not need a claims management company to handle your complaint. These companies often charge fees that could be avoided by handling the issue yourself or through free services provided by regulatory bodies. If your lender does not resolve your complaint satisfactorily, you can escalate it to the Financial Ombudsman Service (FOS) for an impartial review.

Sources and references

Financial Conduct Authority (FCA), 2024
Office for National Statistics (ONS) Census 2021
MLJ.org.uk (mlj.org.uk)

Understanding your rights and taking the necessary steps to address any mis-selling issues can help you regain control over your financial situation.

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 residents in Hackney are estimated to be affected by motor finance mis-selling?

Based on calculated estimates using ONS Census 2021 population data and FCA estimates, approximately 24,494 drivers in Hackney may have been affected by motor finance mis-selling.

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

If you believe your motor finance agreement was mis-sold, it is advisable to review the terms of the agreement carefully. You can also complain directly to your lender for free and seek further information from MLJ.org.uk or other independent sources.

What are some common signs that a motor finance agreement may have been mis-sold in Hackney?

Common signs of mis-selling include high-pressure sales tactics, failure to discuss alternative financing options, and insufficient explanation of the terms of the agreement. If you encountered any of these issues while obtaining your motor finance agreement in Hackney, it is worth investigating further.

How much money was potentially lost due to mis-sold motor finance agreements in Hackney?

Based on FCA estimates, if 12.1 million eligible agreements (FCA, March 2026) were mis-sold across the UK and considering the population of Hackney, a significant amount could have been lost. Each affected driver may be entitled to an FCA-estimated average per eligible agreement of £829.

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.