Bank of Ireland Finance and residents in West Sussex have been affected by issues related to car finance agreements during the period from 6 April 2007 to 1 November 2024. According to estimates, approximately 83,349 individuals in West Sussex may be eligible for redress due to problems with their car finance agreements (ONS/FCA estimate). This issue has impacted various types of vehicles financed through Bank of Ireland Finance across the county.
Bank of Ireland Finance Car Finance Agreements in West Sussex
West Sussex, a diverse and populous region with approximately 882,000 residents (ONS Census 2021), includes many individuals who have been affected by car finance agreements issued by Bank of Ireland Finance. The regulatory timeline has seen significant changes since the Financial Conduct Authority (FCA) began its review of motor finance practices in 2017. During this period, Bank of Ireland Finance provided financing for a wide range of vehicles, from compact cars to larger SUVs and commercial vehicles.
The FCA's investigation revealed that 12.1 million eligible agreements across the UK were affected (FCA estimate), with an estimated total value of £7.5 billion (FCA, March 2026) and average redress payments of around £829 per agreement (£829 average per eligible agreement, FCA estimate). This substantial impact underscores the importance for West Sussex residents to review their car finance agreements thoroughly.
How to Complain to Bank of Ireland Finance from West Sussex
Residents in West Sussex can easily complain directly to Bank of Ireland Finance without needing a claims management company. The process is straightforward and free of charge, allowing individuals to address any concerns they have about their car finance agreement through the bank's official channels. For those seeking assistance, Bank of Ireland Finance provides a dedicated complaints URL at https://personalbanking.bankofireland.com/help-centre/complaints/.
Complaining directly to Bank of Ireland Finance is not only free but also ensures that residents receive prompt and direct communication regarding their case. The regulatory action taken by the FCA has prompted banks like Bank of Ireland Finance to set aside provisions for redress, with an estimated £350 million allocated specifically for motor finance issues (FCA estimate).
What West Sussex Residents Should Do Next
West Sussex residents should take proactive steps to address any concerns related to their car finance agreements. First, it is essential to gather all relevant documentation, including loan contracts and correspondence with the lender. These documents will help substantiate the case when submitting a complaint directly to Bank of Ireland Finance.
Next, individuals should review the dates of their car finance agreement to ensure they fall within the affected period from 6 April 2007 to 1 November 2024. This timeline is crucial in determining eligibility for redress under the FCA's regulatory action.
Residents can submit a complaint via Bank of Ireland Finance’s dedicated complaints URL and follow up regularly to monitor progress. By taking these steps, residents can ensure they receive fair treatment and potentially receive compensation if their agreement was part of the issues identified by the FCA.
Sources and References
- Financial Conduct Authority (FCA) estimates: 12.1 million eligible agreements (FCA, March 2026), £7.5 billion (FCA, March 2026) total value, £829 average per eligible agreement redress payment.
- ONS Census 2021 for population data in West Sussex.
- Bank of Ireland Finance complaint URL: https://personalbanking.bankofireland.com/help-centre/complaints/
- FCA regulatory timeline and provisions set aside by Bank of Ireland Group.
How Many People in West Sussex Are Affected?
Based on West Sussex's population of approximately 870,000, an estimated 181,791 motor finance agreements in the area may have been affected by discretionary commission arrangements (FCA estimate, proportional calculation). This represents approximately 1.3% 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).