Close Brothers Motor Finance has been providing car finance services to residents in the East of England since 2007, and it is estimated that around 598,657 individuals across this region may have been affected by potential unfair practices as identified by the FCA. The East of England is home to a population of approximately 6,335,000 (ONS Census 2021), making it an important area for Close Brothers Motor Finance to address past issues directly and transparently.
Close Brothers Motor Finance Finance Agreements in East of England
According to FCA estimates, 12.1 million eligible agreements may have been affected by potential unfair practices during the period from 6 April 2007 to 1 November 2024. In the East of England specifically, this could mean that a significant number of residents who financed their vehicles through Close Brothers Motor Finance might be eligible for redress. The types of vehicles commonly financed include cars, vans, and other commercial vehicles.
Close Brothers Motor Finance, part of the larger Close Brothers Group, has set aside £300 million in provisions to address these potential issues. This reserve is designed to cover compensation that may need to be paid out to affected customers across the entire UK, including those in the East of England.
How to Complain to Close Brothers Motor Finance from East of England
East of England residents who believe they have been affected by unfair practices can complain directly to Close Brothers Motor Finance for free. The process is straightforward and does not require the involvement of a claims management company. To initiate a complaint, individuals should visit the dedicated complaints page on Close Brothers Motor Finance’s website: https://www.closemotorfinance.co.uk/complaints.
Close Brothers Motor Finance has implemented measures to ensure that complaints are handled efficiently and fairly. By using this direct channel, residents can avoid unnecessary costs associated with third-party services and expedite their claims process.
What East of England Residents Should Do Next
If you suspect that your car finance agreement may have been affected by unfair practices during the specified period, there are several steps you should take to prepare for a complaint. First, gather all relevant documentation related to your car finance agreement, including any correspondence with Close Brothers Motor Finance and details about your vehicle.
Next, check the dates of your agreement to ensure it falls within the timeframe set by the FCA (6 April 2007 to 1 November 2024). This is crucial as only agreements within this period are eligible for potential redress. Once you have confirmed these details, proceed to submit a complaint directly through Close Brothers Motor Finance’s official complaints process.
Sources and References
- ONS Census 2021
- FCA estimates: 12.1 million eligible agreements (FCA, March 2026), £7.5 billion (FCA, March 2026) total (FCA estimate), £829 average per eligible agreement
- Close Brothers Motor Finance complaint URL: https://www.closemotorfinance.co.uk/complaints
How Many People in East of England Are Affected?
Based on East of England's population of approximately 6,300,000, an estimated 1,316,417 motor finance agreements in the area may have been affected by discretionary commission arrangements (FCA estimate, proportional calculation). This represents approximately 9.4% 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).