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North Lanarkshire, home to 341,100 residents (ONS Census 2021), has seen an estimated 32,234 drivers potentially affected by motor finance mis-selling since 6 April 2007. This figure is calculated using ONS Census 2021 population data and FCA estimates.
How Motor Finance Mis-Selling Affected North Lanarkshire
Local dealerships in North Lanarkshire have been at the heart of this issue, with major groups such as Arnold Clark North Lanarkshire, Peter Vardy North Lanarkshire, Eastern Western Motor Group North Lanarkshire, and Macklin Motors North Lanarkshire selling
Personal Contract Purchase (PCP) or
Hire Purchase (HP) finance. These agreements often involved
discretionary commission arrangements where dealers received additional fees from lenders for recommending specific finance products.
Major lenders operating in the area include
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). Dealerships may have encouraged consumers to take out these agreements based on the extra commissions they could earn from lenders.
The FCA Motor Finance Investigation
The Financial Conduct Authority (FCA) has launched an investigation into motor finance mis-selling practices that affected 12.1 million eligible agreements (FCA, March 2026) between 6 April 2007 and 1 November 2024, with total compensation estimated at £7.5 billion (FCA estimate). The average payout per agreement is around £829 (FCA estimate), highlighting the significant impact on consumers.
How North Lanarkshire Residents Can Check Their Finance Agreements
North Lanarkshire residents who suspect they have been affected by motor finance mis-selling should review their finance agreements carefully. Look for discretionary commission arrangements where dealers received additional fees from lenders for recommending specific products. The relevant period is 6 April 2007 to 1 November 2024.
To verify your agreement, gather the following documents:
- Finance agreement signed by you
- Any documentation provided at the time of purchase (e.g., brochure)
- Receipts or correspondence with the dealership
If you find discrepancies or suspect mis-selling, it is crucial to act promptly and check the dates on your finance agreements.
You can complain directly to your lender for free without needing a
claims management company. Major lenders in North Lanarkshire include Black Horse (Lloyds Banking Group), MotoNovo Finance, Close Brothers Motor Finance, Santander Consumer Finance, Barclays Partner Finance, and Alphera Financial Services.
If your complaint is not resolved by the lender, you can escalate it to the
Financial Ombudsman Service (
FOS) for free. The FOS provides a fair and independent service to resolve disputes between consumers and financial firms.
You do not need a claims management company to handle your complaint. They often charge high fees and add unnecessary complexity to an already stressful situation.
Sources and References
- Financial Conduct Authority (FCA)
- Office for National Statistics Census 2021
- 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.