Close Brothers Motor Finance and Derbyshire residents have been affected by the issues surrounding motor finance, with an estimated 75,789 individuals potentially impacted within the county. The period from 6 April 2007 to 1 November 2024 has seen significant changes in the way car finance agreements were handled across the UK.
Close Brothers Motor Finance Finance Agreements in Derbyshire
Derbyshire residents who entered into car finance agreements with Close Brothers Motor Finance during the specified period may be eligible for redress. With a population of approximately 802,000 (ONS Census 2021), Derbyshire is home to a significant number of consumers who might have been affected by the motor finance issues that led to the FCA's investigation. Close Brothers Motor Finance, part of the larger Close Brothers Group, has set aside £300 million in provisions for redress payments. This fund aims to address the concerns raised by customers across the country, including those within Derbyshire.
The 12.1 million eligible agreements (FCA estimate) affected nationwide include a considerable number from Derbyshire. These agreements were often tied to a variety of vehicles, ranging from personal cars and commercial vehicles to motorcycles and vans. The issues stemmed from practices such as discretionary commission arrangements (DCA), which can lead to mis-selling and unfair treatment of customers.
How to Complain to Close Brothers Motor Finance from Derbyshire
Residents in Derbyshire who believe they have been affected by the motor finance issues should know that they can complain directly to Close Brothers Motor Finance for free. The process is straightforward, and there's no need to involve a claims management company. To initiate a complaint, individuals can visit the dedicated complaints page on Close Brothers Motor Finance’s website at https://www.closemotorfinance.co.uk/complaints.
By navigating to this URL, Derbyshire residents can find detailed instructions on how to submit their concerns directly to the lender. This direct approach ensures that customers receive prompt and fair redress without any additional costs or unnecessary complications.
What Derbyshire Residents Should Do Next
Derbyshire residents who suspect they may have been affected by motor finance issues should take proactive steps to address their concerns. First, gather all relevant documents related to your car finance agreements, including contracts, payment records, and correspondence with Close Brothers Motor Finance. Review these documents carefully to ensure that you understand the terms of your agreement and any potential discrepancies.
Next, check the dates of your car finance agreement to confirm whether it falls within the period from 6 April 2007 to 1 November 2024. This is crucial as only agreements entered into during this timeframe are eligible for redress.
Once you have verified that your agreement fits the criteria and gathered all necessary documentation, proceed to submit a complaint directly through Close Brothers Motor Finance's online complaints process or by contacting their customer service department. Remember, it’s free to complain, and there is no need to engage a claims management company.
Sources and References
- FCA estimate of affected agreements: 12.1 million (FCA, 2024)
- Total amount set aside for redress: £300 million (Close Brothers Motor Finance, 2024)
- Population of Derbyshire: approximately 802,000 (ONS Census 2021)
- Amount claimed per agreement on average: £829 (FCA estimate)
How Many People in Derbyshire Are Affected?
Based on Derbyshire's population of approximately 800,000, an estimated 167,164 motor finance agreements in the area may have been affected by discretionary commission arrangements (FCA estimate, proportional calculation). This represents approximately 1.19% 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).