How many Glasgow residents might have been affected by the Close Brothers Motor Finance motor finance issue? With 60008 estimated residents in Glasgow potentially impacted, it’s crucial to understand the scope and implications of this situation.
Close Brothers Motor Finance Finance Agreements in Glasgow
Close Brothers Motor Finance has a significant presence in Glasgow, where 12.1 million eligible agreements may have been affected by issues related to discretionary commission arrangements (DCAs) between 6 April 2007 and 1 November 2024. Given that Glasgow's population is around 635,000 (ONS Census 2021), a substantial number of residents could be involved in these agreements. The total value of the affected car finance agreements is estimated at £7.5 billion (FCA, March 2026), with an average claim amount of £829 (FCA estimate). This issue involves various types of vehicles, from cars to motorcycles and commercial vehicles.
How to Complain to Close Brothers Motor Finance from Glasgow
Residents in Glasgow who believe they may have been affected by the issues can [complain directly](https://mlj.org.uk/guides/how-to-complain-to-your-lender) to Close Brothers Motor Finance for free. The process is straightforward; simply visit their dedicated complaints page at https://www.closemotorfinance.co.uk/complaints. It’s important to note that you do not need a claims management company to file a complaint, as this service is offered by Close Brothers Motor Finance itself. This direct approach ensures transparency and efficiency in addressing any concerns.
What Glasgow Residents Should Do Next
The next steps for residents of Glasgow who suspect they might be affected are clear and straightforward:
- Gather Documents: Collect all relevant documents related to your car finance agreement, such as contracts, payment slips, and correspondence with Close Brothers Motor Finance.
- Check Dates: Ensure that the dates of your agreement fall within the period from 6 April 2007 to 1 November 2024, when issues with DCAs occurred.
- Complain Directly: Submit a complaint directly through Close Brothers Motor Finance’s official complaints process at https://www.closemotorfinance.co.uk/complaints.
By following these steps and submitting your concerns directly, you can ensure that the matter is handled efficiently without incurring any additional costs or complications associated with third-party claims management companies. Remember, Close Brothers Motor Finance is committed to resolving issues fairly and transparently.
Sources and References
- Office for National Statistics (ONS) Census 2021
- Financial Conduct Authority (FCA), 2024
How Many People in Glasgow Are Affected?
Based on Glasgow's population of approximately 635,000, an estimated 132,686 motor finance agreements in the area may have been affected by discretionary commission arrangements (FCA estimate, proportional calculation). This represents approximately 0.95% 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).