The Financial Conduct Authority (FCA) has taken regulatory action regarding Black Horse motor finance agreements, affecting residents in Cheshire. With an estimated 72,387 people potentially impacted by the issues surrounding these agreements, it is crucial for affected individuals to understand their rights and how to proceed with complaints.
Black Horse Finance Agreements in Cheshire
Between 6 April 2007 and 1 November 2024, an estimated 12.1 million eligible agreements were potentially impacted by the FCA's findings (FCA estimate). In Cheshire alone, approximately 72,387 residents may be affected, based on population data from the ONS Census 2021. These agreements involved various types of vehicles, including cars and commercial vehicles, with an average agreement value of £829 (FCA estimate).
Cheshire's diverse economy and demographics mean that a significant portion of the local population could have been affected by car finance agreements through Black Horse. Given that Cheshire has a total population of around 766,000 residents (ONS Census 2021), the impact on the community is substantial.
Residents in Cheshire who believe they are affected by these issues can complain directly to Black Horse at no cost. The process involves visiting the official complaints page on their website: https://www.blackhorse.co.uk/complaints. It is important to note that you do not need a claims management company to handle your complaint; all services offered by such companies can be handled for free through direct communication with Black Horse.
Cheshire residents should gather relevant documents, including any correspondence with Black Horse and payment records related to their car finance agreement. These documents are crucial in supporting the validity of the claim and ensuring that the complaint is addressed appropriately.
What Cheshire Residents Should Do Next
Before submitting a formal complaint, it is advisable for individuals to check the dates of their agreements and ensure they fall within the FCA's specified period. Once this verification is complete, residents should compile all necessary evidence and proceed with filing a direct complaint through Black Horse’s official channels.
Gathering documents such as loan agreements, payment receipts, and any correspondence regarding the car finance agreement will help in substantiating the claim effectively. By following these steps, Cheshire residents can ensure that their complaints are well-prepared and presented in a manner that aligns with regulatory guidelines set by the FCA.
It is also essential to understand the mechanics behind the discretionary commission arrangement (DCA) that may have influenced the terms of car finance agreements during the period in question. This knowledge will empower individuals to articulate their concerns more clearly and effectively when submitting complaints directly to Black Horse.
Sources and References
- Financial Conduct Authority (FCA), 2024
- Office for National Statistics (ONS) Census, 2021
How Many People in Cheshire Are Affected?
Based on Cheshire's population of approximately 250,000, an estimated 52,238 motor finance agreements in the area may have been affected by discretionary commission arrangements (FCA estimate, proportional calculation). This represents approximately 0.37% of the UK total of 12.1 million eligible agreements.
Black Horse is registered at Companies House (company number 00661204) with a status of active. The company was incorporated on 1960-06-01. Its registered office is at 25 Gresham Street, London, EC2V 7HN. The company currently has 6 directors.
Black Horse Complaint Statistics
According to the Financial Ombudsman Service, Black Horse received 25 total complaints in H2 2024 BUSINESS. You can check the latest complaint data at the Financial Ombudsman Service.
Black Horse's FCA reference number is 157429 (status: No longer authorised).