Since the mid-2000s, car finance agreements issued by Close Brothers Motor Finance may be subject to claims in Kent due to alleged mis-selling practices. The Financial Conduct Authority (FCA) estimates that 12.1 million eligible agreements (FCA, March 2026) across the UK from 6 April 2007 to 1 November 2024, potentially impacting thousands of residents in Kent.
Close Brothers Motor Finance Finance Agreements in Kent
The Office for National Statistics (ONS) Census 2021 reports that Kent's population stands at approximately 1.584 million people. Given the FCA’s estimate that around 149688 residents in Kent may have been affected by potentially mis-sold car finance agreements, it is crucial to understand the scope of this issue locally. Close Brothers Motor Finance, part of the larger Close Brothers Group, was one of the lenders involved in these agreements. The types of vehicles financed under these schemes ranged from cars and vans to motorcycles and other light commercial vehicles.
The FCA has estimated that approximately £7.5 billion (FCA, March 2026) is potentially owed in redress across all affected car finance agreements, with an average claim amount of £829 per agreement (FCA estimate). This underscores the significant impact on those who have been mis-sold these products by Close Brothers Motor Finance and other lenders.
How to Complain to Close Brothers Motor Finance from Kent
Residents in Kent can easily initiate a complaint directly against Close Brothers Motor Finance without needing to engage with claims management companies. The lender has set aside £300 million specifically for redress purposes, demonstrating its commitment to addressing the concerns of affected customers. To begin the process, individuals should visit the dedicated complaints page on Close Brothers Motor Finance’s website at https://www.closemotorfinance.co.uk/complaints.
Complaining directly to Close Brothers Motor Finance is not only free but also straightforward. Individuals do not need to involve a claims management company to seek redress for potential mis-selling issues. By following the steps outlined on their complaints page, Kent residents can ensure that their concerns are addressed promptly and efficiently.
What Kent Residents Should Do Next
For those in Kent who believe they may have been affected by mis-sold car finance agreements issued by Close Brothers Motor Finance, the next step is to gather all relevant documentation. This includes any contracts or agreements, payment records, and correspondence with the lender. It’s important to review these documents carefully to confirm that the agreement was indeed entered into during the specified period from 6 April 2007 to 1 November 2024.
Once the necessary paperwork is in order, Kent residents should proceed to submit their complaint directly through Close Brothers Motor Finance’s dedicated complaints page. By doing so, they can avoid unnecessary costs and complications that may arise when working with claims management companies. Remember, complaining directly to the lender is free and often more efficient than involving third parties.
Sources and References
- Financial Conduct Authority (FCA), 2024
- Office for National Statistics (ONS) Census 2021
How Many People in Kent Are Affected?
Based on Kent's population of approximately 1,900,000, an estimated 397,014 motor finance agreements in the area may have been affected by discretionary commission arrangements (FCA estimate, proportional calculation). This represents approximately 2.84% 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).