An estimated 72,670 residents in Lincolnshire may be affected by issues related to car finance agreements with Bank of Ireland Finance. The Financial Conduct Authority (FCA) has identified a significant number of problematic car finance agreements issued between 6 April 2007 and 1 November 2024, impacting both individuals who took out these loans in Lincolnshire and the broader population across the UK.
Bank of Ireland Finance Car Finance Agreements in Lincolnshire
Lincolnshire's population is approximately 769,000 (ONS Census 2021), making it a significant market for car finance agreements. During the period from April 2007 to November 2024, an estimated 12.1 million eligible agreements were affected across the UK (FCA estimate). These agreements include both personal and commercial vehicles, with Lincolnshire residents likely having financed a range of cars, vans, and even motorcycles.
The FCA has noted that around £7.5 billion (FCA, March 2026) in total is tied to these problematic agreements, averaging about £829 per agreement (FCA estimate). This substantial sum highlights the potential for significant financial relief for affected individuals who may have been overcharged or misled during their car finance transactions with Bank of Ireland Finance.
How to Complain to Bank of Ireland Finance from Lincolnshire
Lincolnshire residents can easily initiate a complaint directly with Bank of Ireland Finance without needing to use a
claims management company. To start the process, visit the bank’s dedicated complaints page at https://personalbanking.bankofireland.com/help-centre/complaints/. This service is free and allows individuals to submit their concerns efficiently.
When making a complaint, it's important to understand that Bank of Ireland Finance has set aside £350 million in provisions specifically for motor finance redress (Bank of Ireland Group). This fund underscores the bank’s commitment to addressing past issues. By complaining directly, Lincolnshire residents can access this support without any upfront costs or fees.
What Lincolnshire Residents Should Do Next
If you suspect that your car finance agreement with Bank of Ireland Finance falls under the FCA's regulatory timeline, start by gathering all relevant documents and checking the dates of your agreement to ensure it fits within the specified period. This includes loan agreements, payment schedules, and any correspondence related to your financing.
Once you have verified these details, proceed directly to Bank of Ireland Finance’s complaint process. Include any evidence that might support your case, such as emails or letters from the bank, or documentation showing discrepancies in charges or payments. By taking this step-by-step approach, you can ensure a thorough and effective resolution to your car finance claim.
Sources and references
- Financial Conduct Authority (FCA) estimates on affected agreements: 12.1 million eligible agreements (FCA, March 2026), £7.5 billion (FCA, March 2026) total (FCA estimate), £829 average per eligible agreement
- ONS Census 2021: Population of Lincolnshire (ONS Census 2021)
- Bank of Ireland Finance complaint URL: https://personalbanking.bankofireland.com/help-centre/complaints/
- Bank of Ireland Group provisions for motor finance redress: £350 million (Bank of Ireland Group)
How Many People in Lincolnshire Are Affected?
Based on Lincolnshire's population of approximately 770,000, an estimated 160,895 motor finance agreements in the area may have been affected by discretionary commission arrangements (FCA estimate, proportional calculation). This represents approximately 1.15% of the UK total of 12.1 million eligible agreements.
Bank of Ireland Finance is registered at Companies House (company number 07022885) with a status of active. The company was incorporated on 2009-09-17. Its registered office is at 45 Gresham Street, London, EC2V 7EH, England. The company currently has 9 directors.
Bank of Ireland Finance Complaint Statistics
According to the Financial Ombudsman Service, Bank of Ireland Finance received 8 total complaints in H2 2024 BUSINESS. You can check the latest complaint data at the Financial Ombudsman Service.
Bank of Ireland Finance's FCA reference number is 222848 (status: FSR-API-02-01-11).