According to FCA estimates, an estimated 64071 residents in Cambridgeshire may be affected by the issues with Close Brothers Motor Finance car finance agreements between 6 April 2007 and 1 November 2024. This period encompasses a significant number of car finance arrangements that were potentially mis-sold through discretionary commission arrangements (DCA).
Close Brothers Motor Finance Finance Agreements in Cambridgeshire
Cambridge, being a city with a strong automotive industry presence, has seen many residents take out car finance agreements from Close Brothers Motor Finance. The population of Cambridgeshire stands at approximately 678,000 according to the ONS Census 2021, and within this demographic, a considerable number have financed their vehicles through Close Brothers Motor Finance. With an estimated 12.1 million eligible agreements (FCA, March 2026) across the UK (FCA estimate), many residents in Cambridgeshire could be part of those potentially covered by the FCA redress scheme.
The types of vehicles that were financed under these arrangements are diverse, ranging from passenger cars to commercial vehicles. The average amount of compensation per successful claim is £829 (FCA estimate), which can provide significant relief to individuals affected by the issues with Close Brothers Motor Finance car finance agreements.
How to Complain to Close Brothers Motor Finance from Cambridgeshire
If you reside in Cambridgeshire and suspect that your car finance agreement with Close Brothers Motor Finance was mis-sold, it is important to know how to proceed. You can complain directly to Close Brothers Motor Finance for free by visiting their dedicated complaints page at https://www.closemotorfinance.co.uk/complaints. This process allows you to initiate a complaint without the need for a claims management company.
Close Brothers Motor Finance has set aside £300 million in provisions specifically for motor finance redress, indicating their commitment to addressing and resolving issues with affected customers. By following the direct complaint route provided by Close Brothers Motor Finance, residents of Cambridgeshire can avoid the costs associated with third-party services while still seeking resolution for potential mis-selling.
What Cambridgeshire Residents Should Do Next
If you believe your car finance agreement falls within the problematic period mentioned above and may have been affected by issues related to discretionary commission arrangements (DCA), there are several steps you should take. Firstly, gather all relevant documentation such as contract agreements, payment records, and any correspondence with Close Brothers Motor Finance regarding your account.
Next, check the dates of your car finance agreement to ensure it falls within the critical period from 6 April 2007 to 1 November 2024. Once you have confirmed these details, proceed directly to Close Brothers Motor Finance’s complaint page and submit your claim without involving a claims management company.
Sources and references
- FCA estimates: 12.1 million eligible agreements (FCA, March 2026), £7.5 billion (FCA, March 2026) total (FCA estimate), £829 average per eligible agreement
- ONS Census 2021
- Close Brothers Motor Finance’s complaint URL: https://www.closemotorfinance.co.uk/complaints
How Many People in Cambridgeshire Are Affected?
Based on Cambridgeshire's population of approximately 680,000, an estimated 142,089 motor finance agreements in the area may have been affected by discretionary commission arrangements (FCA estimate, proportional calculation). This represents approximately 1.01% of the UK total of 12.1 million eligible agreements.
Close Brothers Motor Finance is registered at Companies House (company number 00520241) with a status of active. The company was incorporated on 1953-06-03. Its registered office is at 10 Crown Place, London, EC2A 4FT. The company currently has 9 directors.
Close Brothers Motor Finance Complaint Statistics
According to the Financial Ombudsman Service, Close Brothers Motor Finance received 10 total complaints in H2 2024 BUSINESS. You can check the latest complaint data at the Financial Ombudsman Service.
Close Brothers Motor Finance's FCA reference number is 931092 (status: Appointed representative - introducer).