Since 6 April 2007, Black Horse motor finance has been involved in car financing across Sheffield and the UK, with many residents potentially affected by issues related to discretionary commission arrangements (DCAs). With an estimated population of approximately 556,500 people in Sheffield (ONS Census 2021), around 52,589 individuals may have been impacted by Black Horse's car finance agreements during the period from 6 April 2007 to 1 November 2024. This article aims to provide Sheffield residents with clear guidance on how to address their concerns directly and without needing a claims management company.
Black Horse Finance Agreements in Sheffield
Black Horse, part of Lloyds Banking Group, has been financing vehicles for individuals across Sheffield since the start of its motor finance operations. The Financial Conduct Authority (FCA) estimates that 12.1 million eligible agreements were affected by DCAs during the specified period (FCA estimate). Given Sheffield's population and Black Horse’s presence in the city, it is estimated that approximately 52,589 residents may be eligible for redress from Black Horse. These agreements would have covered a range of vehicles, including cars, motorcycles, and commercial vehicles.
Sheffield residents who believe they were affected by issues with their car finance agreement can file a complaint directly with Black Horse at no cost. The process is straightforward and can be initiated through the company's dedicated complaints page: https://www.blackhorse.co.uk/complaints. It is important for individuals to gather all relevant documents, such as loan agreements, payment receipts, and any correspondence with Black Horse, before submitting their complaint.
You do not need a claims management company; residents can manage this process independently by following the steps outlined on Black Horse’s website. By complaining directly, Sheffield residents can avoid unnecessary fees and ensure that they receive the appropriate redress based on the FCA's guidelines. Black Horse has set aside approximately £2 billion in provisions to address these concerns (FCA estimate).
What Sheffield Residents Should Do Next
Sheffield residents who believe their car finance agreement was affected by DCAs should take proactive steps to initiate a complaint directly with Black Horse:
- Gather Documents: Collect all relevant documentation, including loan agreements, payment records, and any correspondence with the lender.
- Check Dates: Ensure that your agreement falls within the specified period from 6 April 2007 to 1 November 2024.
- Submit Complaint: Visit Black Horse's complaints page at https://www.blackhorse.co.uk/complaints to initiate a formal complaint.
By taking these steps, residents can ensure they receive fair treatment and any applicable redress without incurring additional costs or involving third-party companies. Residents are encouraged to visit the dedicated complaints section of Black Horse’s website for detailed guidance on how to proceed.
Sources and References
- Financial Conduct Authority (FCA)
- Office for National Statistics (ONS) Census 2021
- Lloyds Banking Group
How Many People in Sheffield Are Affected?
Based on Sheffield's population of approximately 580,000, an estimated 121,194 motor finance agreements in the area may have been affected by discretionary commission arrangements (FCA estimate, proportional calculation). This represents approximately 0.87% 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).
You can [complain to your lender](https://mlj.org.uk/guides/how-to-complain-to-your-lender) directly for free. You do not need a claims management company to check whether you are owed compensation.