An estimated 135,230 residents in Merseyside may be affected by the issues surrounding car finance agreements with Close Brothers Motor Finance. This number represents a significant portion of the local population, given that Merseyside has a total of approximately 1,431,000 residents (ONS Census 2021). The period during which these agreements were issued spans from 6 April 2007 to 1 November 2024, affecting both individuals and businesses across the region.
Close Brothers Motor Finance Car Finance Agreements in Merseyside
The impact of car finance agreements with Close Brothers Motor Finance extends widely throughout Merseyside. Based on FCA estimates, 12.1 million eligible agreements (FCA, March 2026) were issued during this period, potentially affecting a substantial number of residents and businesses. These agreements covered various types of vehicles, including personal cars, vans, and commercial trucks, which are commonly used for both private and business purposes in Merseyside.
Close Brothers Motor Finance, part of the Close Brothers Group, has set aside £300 million (FCA estimate) in provisions to address these issues. This funding is intended to help affected individuals who may have been impacted by discretionary commission arrangements (DCA), which were a common practice across the car finance industry during this period.
How to Complain to Close Brothers Motor Finance from Merseyside
Residents in Merseyside can complain directly to Close Brothers Motor Finance for free. The process is straightforward and accessible through their dedicated complaints page at https://www.closemotorfinance.co.uk/complaints. It is important to note that you do not need a claims management company; the lender offers this service without any charge or obligation.
The complaint process involves gathering relevant documentation, such as contract details, payment records, and communication history with Close Brothers Motor Finance. Once these documents are compiled, residents can submit their complaints online via the dedicated page or by contacting customer support directly. By following these steps, individuals in Merseyside can initiate a free and transparent resolution process.
What Merseyside Residents Should Do Next
Residents affected by car finance agreements should take proactive steps to address any issues they may have experienced with Close Brothers Motor Finance. The first step is to gather all relevant documents related to their financing agreement, including the original contract, payment receipts, and any correspondence with the lender. This documentation will be crucial in substantiating complaints.
Next, residents need to check the dates of their agreements to ensure that they fall within the specified period from 6 April 2007 to 1 November 2024. Once this is confirmed, they can proceed to submit a complaint directly through Close Brothers Motor Finance's dedicated page or by contacting customer support.
By taking these actions, residents in Merseyside can seek fair compensation for any issues related to their car finance agreements without the need for third-party involvement. This direct approach ensures transparency and efficiency in resolving complaints.
Sources and References
- FCA (2024)
- ONS Census 2021
How Many People in Merseyside Are Affected?
Based on Merseyside's population of approximately 1,410,000, an estimated 294,626 motor finance agreements in the area may have been affected by discretionary commission arrangements (FCA estimate, proportional calculation). This represents approximately 2.1% 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).