Close Brothers Motor Finance, a division of Close Brothers Group, has been operating in Gloucestershire since 2007 and may have affected an estimated 60196 residents through its car finance agreements (ONS/FCA estimate). With the population of Gloucestershire standing at approximately 637,000 according to the ONS Census 2021, it's crucial for local residents who entered into car finance agreements with Close Brothers Motor Finance between 6 April 2007 and 1 November 2024 to be aware of potential issues related to the firm’s practices.
Close Brothers Motor Finance Car Finance Agreements in Gloucestershire
Gloucestershire residents may have been affected by the sale of car finance agreements that included
discretionary commission arrangements (DCAs), which are now considered unfair and potentially illegal under FCA guidelines. The estimated number of agreements impacted across the UK is 12.1 million, with a total value of £7.5 billion (FCA, March 2026). These figures underscore the significance of this issue in Gloucestershire, where Close Brothers Motor Finance’s practices have been scrutinised for their compliance with regulatory standards.
Close Brothers Motor Finance has set aside £300 million in provisions to address potential claims from affected customers who entered into car finance agreements during the specified period. This financial provision is part of a broader industry-wide effort by lenders to address past sales practices that may have disadvantaged consumers. The average compensation per claimant is estimated at around £829 (FCA estimate), reflecting the scale and impact of these issues on individual borrowers in Gloucestershire.
How to Complain to Close Brothers Motor Finance from Gloucestershire
If you believe your car finance agreement with Close Brothers Motor Finance might have been affected, you can
complain directly to the lender for free without needing a
claims management company. The process is straightforward and accessible online via their dedicated complaint URL: https://www.closemotorfinance.co.uk/complaints. By submitting your concerns through this channel, you ensure that the matter is handled efficiently and directly by Close Brothers Motor Finance, eliminating the need for third-party intermediaries.
Residents of Gloucestershire can rest assured that complaining to Close Brothers Motor Finance does not require any upfront costs or fees. The lender’s commitment to resolving these issues transparently and promptly means that you do not need a claims management company to assist with your complaint. This direct approach simplifies the process and ensures that all communication is handled directly between you and Close Brothers Motor Finance.
What Gloucestershire Residents Should Do Next
To start the complaint process effectively, Gloucestershire residents should gather relevant documents such as loan agreements, correspondence from lenders, and any other pertinent financial records related to their car finance arrangements. It’s important to check the dates of your agreement to ensure it falls within the period specified by the FCA (6 April 2007 to 1 November 2024).
Once you have collected all necessary documentation, proceed to submit a formal complaint through Close Brothers Motor Finance’s dedicated complaints page or via their customer service line. This direct approach ensures that your concerns are heard and addressed in a timely manner.
Sources and References
- Office for National Statistics (ONS) Census 2021
- Financial Conduct Authority (FCA), 2024
How Many People in Gloucestershire Are Affected?
Based on Gloucestershire's population of approximately 640,000, an estimated 133,731 motor finance agreements in the area may have been affected by discretionary commission arrangements (FCA estimate, proportional calculation). This represents approximately 0.96% 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).