The Financial Conduct Authority's (FCA) regulatory action on motor finance has affected an estimated 12.1 million eligible agreements (FCA, March 2026) from 6 April 2007 to 1 November 2024, including those in Essex. With a population of approximately 1.5 million residents (ONS Census 2021), the impact on Close Brothers Motor Finance's customer base in this county is significant, potentially affecting an estimated 142,033 people.
Close Brothers Motor Finance Finance Agreements in Essex
Close Brothers Motor Finance, part of the larger Close Brothers Group, has been providing car finance to residents of Essex for many years. With the FCA estimating that £7.5 billion (FCA, March 2026) was paid out from motor finance agreements during this period (FCA estimate), it is clear that a considerable amount of money changed hands within the county. The average value per agreement under review is estimated at £829 (FCA estimate). This includes various types of vehicles, such as cars and commercial vans, which were financed through a range of products including Personal Contract Purchase (PCP) and Hire Purchase (HP).
Essex residents who may have been affected by the FCA's findings should be aware that Close Brothers Motor Finance has set aside £300 million in provisions for motor finance redress. This substantial reserve indicates the potential scale of issues affecting Essex car owners, particularly those who entered into agreements during the specified period.
How to Complain to Close Brothers Motor Finance from Essex
Essex residents can complain directly to Close Brothers Motor Finance without needing a claims management company. The dedicated complaints page on their website (https://www.closemotorfinance.co.uk/complaints) provides all the necessary information and forms for initiating a complaint process at no cost. It is crucial to understand that you do not need a claims management company; instead, residents can approach Close Brothers Motor Finance directly.
What Essex Residents Should Do Next
To start the process of complaining about a potential issue with their car finance agreement, Essex residents should first gather relevant documents such as loan agreements, payment receipts, and any correspondence with Close Brothers Motor Finance. They should also check if their agreement falls within the specified period (6 April 2007 to 1 November 2024). Once they have all the necessary information, they can proceed by submitting a formal complaint through the dedicated complaints page on Close Brothers Motor Finance's website.
By following these steps, Essex residents can seek redress directly and avoid unnecessary costs associated with claims management companies. The process may involve navigating complex financial agreements, including those involving discretionary commission arrangements (DCAs), but direct communication with Close Brothers Motor Finance remains the most straightforward approach for affected individuals.
Sources and references
- Financial Conduct Authority (FCA) estimates: 12.1 million eligible agreements (FCA, March 2026) (£7.5 billion (FCA, March 2026) total, £829 average per eligible agreement)
- Office for National Statistics (ONS) Census 2021
- Close Brothers Motor Finance complaint URL: https://www.closemotorfinance.co.uk/complaints
How Many People in Essex Are Affected?
Based on Essex's population of approximately 1,800,000, an estimated 376,119 motor finance agreements in the area may have been affected by discretionary commission arrangements (FCA estimate, proportional calculation). This represents approximately 2.69% 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).
You can complain to your lender directly for free. You do not need a claims management company to check whether you are owed compensation.