Black Horse motor finance claims have affected residents in Tyne and Wear, particularly those who entered into agreements between 6 April 2007 and 1 November 2024. With an estimated 106,502 people potentially impacted by these flawed agreements (FCA estimate), it is crucial for individuals to understand their rights and the steps they can take to address any issues. Tyne and Wear's population stands at approximately 1,127,000 (ONS Census 2021), making it a significant area for Black Horse’s motor finance operations.
Black Horse Finance Agreements in Tyne and Wear
Tyne and Wear residents who financed vehicles through Black Horse during the specified period may have entered into agreements that were impacted by unfair practices. According to FCA estimates, 12.1 million eligible agreements across the UK were affected (FCA estimate). These agreements often included
discretionary commission arrangements (DCA) which led to excessive charges and financial burdens for consumers.
Black Horse’s parent company, Lloyds Banking Group, has set aside approximately £2 billion in provisions specifically for addressing these issues with motor finance customers. This provision is intended to help affected individuals receive redress for any damages or overcharges they incurred due to the flawed agreements. Given that Tyne and Wear has a significant number of residents potentially impacted (106,502 estimated), it’s essential for local consumers to understand how these provisions can benefit them.
How to Complain to Black Horse from Tyne and Wear
Residents in Tyne and Wear who believe they have been affected by unfair car finance agreements with Black Horse should know that there are straightforward steps available. The first step is to contact Black Horse directly through their complaints page at https://www.blackhorse.co.uk/complaints. This process is free of charge, and individuals do not need a
claims management company to assist them.
Complaining directly to Black Horse allows residents in Tyne and Wear to initiate the resolution process without any upfront costs or third-party involvement. It’s important for consumers to gather all relevant documentation such as finance agreements, payment receipts, and correspondence with the lender before initiating their complaint. This ensures that they can provide a full overview of their situation and receive appropriate redress.
What Tyne and Wear Residents Should Do Next
Once individuals have gathered the necessary documents and checked the dates of their car finance agreement to ensure it falls within the specified period (6 April 2007 to 1 November 2024), they should proceed with contacting Black Horse. The FCA estimates that affected agreements could lead to an average redress payment of £829 per customer (FCA estimate). This amount can vary based on individual circumstances, but it underscores the importance of taking action.
By following these steps and complaining directly to Black Horse, Tyne and Wear residents can ensure they receive fair treatment without incurring additional costs. It’s also advisable for individuals to keep detailed records of all communications and documentation related to their complaint process. This helps maintain transparency and ensures a smooth resolution.
Sources and References
- Office for National Statistics (ONS) Census 2021
- Financial Conduct Authority (FCA), 2024
How Many People in Tyne and Wear Are Affected?
Based on Tyne and Wear's population of approximately 1,130,000, an estimated 236,119 motor finance agreements in the area may have been affected by discretionary commission arrangements (FCA estimate, proportional calculation). This represents approximately 1.69% 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).