Black Horse motor finance claims are affecting thousands of residents in Glasgow. According to FCA estimates, approximately 60,080 individuals in Glasgow may be impacted by the mis-selling scandal involving Black Horse car finance agreements from 6 April 2007 to 1 November 2024.
Black Horse Finance Agreements in Glasgow
The number of residents affected by these issues underscores the significant impact on Glasgow's community. With a population of approximately 635,000 (ONS Census 2021), a substantial portion of Glaswegians may be covered by the FCA redress scheme. if they were sold car finance agreements through Black Horse during the specified period. The FCA estimates that 12.1 million eligible agreements (FCA, March 2026) across the UK are affected by these issues (FCA estimate). Given Glasgow's size and population density, it is reasonable to assume that a significant number of local residents have been impacted.
These car finance agreements were often sold through dealerships located in Glasgow or surrounding areas. The types of vehicles financed range from cars and vans to motorcycles and commercial vehicles, reflecting the diverse needs of the city’s residents. However, due to issues with how these agreements were sold, many Glaswegians may be entitled to compensation.
Glasgow residents who believe they have been affected by mis-sold car finance agreements can complain directly to Black Horse without incurring any costs. The process is straightforward and does not require the involvement of a claims management company or solicitors. To start, individuals should visit Black Horse’s dedicated complaint page at https://www.blackhorse.co.uk/complaints. This website provides full guidance on how to submit a complaint, including detailed information about the types of documentation required.
You do not need a claims management company; Glasgow residents can complain directly to Black Horse for free. The direct complaint process ensures that individuals receive fair and unbiased handling of their concerns without additional fees or unnecessary intermediaries. By following the steps outlined on the website, Glaswegians can initiate the redress process effectively.
What Glasgow Residents Should Do Next
If you suspect that your car finance agreement with Black Horse was mis-sold, the first step is to gather all relevant documents and paperwork related to your financing arrangement. This includes loan agreements, payment records, correspondence with dealerships or lenders, and any information about changes made during the term of the contract. It is crucial to ensure these documents are organized and complete before initiating a complaint.
Next, review the dates of when you entered into the car finance agreement and whether it falls within the period from 6 April 2007 to 1 November 2024. If your agreement was made during this timeframe, you should proceed with submitting a formal complaint through Black Horse’s online portal or by contacting their customer service directly.
The FCA estimates that affected individuals could receive an FCA-estimated scheme average of £829 per eligible agreement (FCA estimate), and the total redress fund stands at around £7.5 billion (FCA, March 2026). Given these figures, it is worthwhile for Glasgow residents to take proactive steps in seeking fair treatment from Black Horse. Remember, Black Horse has set aside approximately £2 billion in provisions specifically for motor finance redress (FCA estimate), ensuring that eligible complaints will be addressed appropriately.
Sources and References
- FCA estimates on the number of agreements affected: 12.1 million eligible agreements (FCA, March 2026).
- Total estimated compensation fund: £7.5 billion (FCA, March 2026).
- Average compensation per individual: £829 (FCA estimate).
- Population data for Glasgow: approximately 635,000 (ONS Census 2021).
How Many People in Glasgow Are Affected?
Based on Glasgow's population of approximately 635,000, an estimated 132,686 motor finance agreements in the area may have been affected by discretionary commission arrangements (FCA estimate, proportional calculation). This represents approximately 0.95% 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).