Black Horse motor finance has been in the spotlight recently as many residents of West Midlands may be affected by issues related to car finance agreements. With an estimated 275,845 residents potentially impacted (ONS/FCA estimate), it's crucial for those who financed vehicles through Black Horse between 6 April 2007 and 1 November 2024 to understand their rights and options.
Black Horse Finance Agreements in West Midlands
The population of the West Midlands is approximately 2,919,000 (ONS Census 2021), making it a significant market for car finance providers like Black Horse. The FCA estimates that 12.1 million eligible agreements (FCA, March 2026) across the UK were affected by issues such as unfair interest rates and hidden fees during this period (FCA estimate). In West Midlands alone, thousands of individuals may have financed their vehicles under problematic conditions set forth by Black Horse.
The types of vehicles commonly financed through these agreements include cars, vans, and motorcycles. These finance schemes often included discretionary commission arrangements (DCAs), which allowed lenders to charge additional fees without clear disclosure to customers. This practice has led many West Midlands residents to seek redress from their lenders for unfair treatment.
How to Complain to Black Horse from West Midlands
Residents in the West Midlands who believe they have been affected by these issues should know that complaining directly to Black Horse is a free and straightforward process. The lender's dedicated complaints page can be found at https://www.blackhorse.co.uk/complaints, where individuals can submit their concerns without needing any assistance from claims management companies.
Black Horse, part of Lloyds Banking Group, has set aside approximately £2 billion in provisions for motor finance redress (FCA estimate). This fund is intended to address the grievances of affected customers and provide them with fair compensation. By using this direct complaint channel, West Midlands residents can bypass costly third-party services and receive prompt resolution from Black Horse.
You do not need a claims management company; you can complain directly to your lender for free by visiting their website or contacting customer service.
What West Midlands Residents Should Do Next
To ensure that complaints are handled effectively, it is essential for West Midlands residents to gather all relevant documentation related to their car finance agreements. This includes loan agreements, payment records, and any correspondence with the lender. Additionally, they should check the dates of their financing arrangements to confirm if they fall within the period from 6 April 2007 to 1 November 2024 when issues were most prevalent.
Once all necessary information is compiled, residents can proceed by submitting a formal complaint through Black Horse's website or via email. It’s important to be thorough and precise in detailing their concerns, including any specific instances of unfair treatment they experienced during the financing process. This will help expedite the resolution process and ensure that their case receives due attention.
Sources and References
- FCA estimates on affected agreements: 12.1 million (FCA estimate)
- Total provisions set aside by Black Horse for redress: £2 billion (FCA estimate)
- FCA-estimated scheme average per eligible agreement: £829
- Population of the West Midlands: 2,919,000 (ONS Census 2021)
- Estimated number of residents affected in West Midlands: 275,845 (ONS/FCA estimate)
How Many People in West Midlands Are Affected?
Based on West Midlands's population of approximately 2,900,000, an estimated 605,970 motor finance agreements in the area may have been affected by discretionary commission arrangements (FCA estimate, proportional calculation). This represents approximately 4.33% 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).