Close Brothers Motor Finance has been implicated in the UK-wide issue affecting car finance agreements, and Scotland is one of the regions where residents may be affected. The Financial Conduct Authority (FCA) estimates that as many as 12.1 million eligible agreements were impacted between 6 April 2007 to 1 November 2024, with an estimated £7.5 billion (FCA, March 2026) in total sums involved and an average redress of £829 per affected agreement (FCA estimate). Given Scotland's population of approximately 5.4 million residents (ONS Census 2021), it is likely that a significant number of individuals are impacted.
Close Brothers Motor Finance Finance Agreements in Scotland
Close Brothers Motor Finance, as part of the larger Close Brothers Group, has provided car finance to many Scottish residents over the years. The Office for National Statistics (ONS) and FCA estimates suggest that around 513,759 residents in Scotland may be affected by issues related to car finance agreements during the specified period. This includes a wide range of vehicles from cars to light commercial vehicles.
The issue primarily stems from discretionary commission arrangements (DCAs), which were commonly used as part of sales incentives within the motor industry. These arrangements often led to inflated prices for consumers, particularly in regions like Scotland where Close Brothers Motor Finance has a significant presence.
How to Complain to Close Brothers Motor Finance From Scotland
Scotland residents affected by these issues can complain directly to Close Brothers Motor Finance without needing a claims management company. The process is straightforward and free of charge; simply visit the dedicated complaints page at https://www.closemotorfinance.co.uk/complaints to initiate your complaint. By doing so, you avoid unnecessary fees and complexities often associated with third-party services.
Complaining directly ensures that all communication remains transparent and allows for a faster resolution without any additional costs. Residents are encouraged to gather relevant documents such as loan agreements, receipts, and correspondence related to their car finance agreement before initiating the complaint process.
What Scotland Residents Should Do Next
When preparing your complaint against Close Brothers Motor Finance, it is crucial to collect all necessary documentation that relates to your car finance agreement. This includes any contracts or terms and conditions provided at the time of signing up for the finance plan. Additionally, ensure you have a clear understanding of the dates involved in your financing arrangement.
Scotland residents should also verify if their case falls within the period of 6 April 2007 to 1 November 2024, as specified by the FCA ruling. This timeline is critical for determining eligibility and ensuring that all complaints are submitted accurately.
Once you have gathered all necessary documents and verified your dates, proceed directly to Close Brothers Motor Finance's complaint portal at https://www.closemotorfinance.co.uk/complaints. By following these steps, you can ensure a smooth process and receive the appropriate redress if applicable.
Sources and References
- Financial Conduct Authority (FCA) estimates on affected agreements: 12.1 million (FCA estimate)
- Total sum involved: £7.5 billion (FCA, March 2026)
- FCA-estimated scheme average per eligible agreement: £829
- Scotland's population: approximately 5,436,600 (ONS Census 2021)
- Estimated number of affected residents in Scotland: 513,759 (ONS/FCA estimate)
How Many People in Scotland Are Affected?
Based on Scotland's population of approximately 5,450,000, an estimated 1,138,805 motor finance agreements in the area may have been affected by discretionary commission arrangements (FCA estimate, proportional calculation). This represents approximately 8.13% 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).