Close Brothers Motor Finance has been involved in the car finance market since 6 April 2007, and based on FCA estimates, 12.1 million eligible agreements (FCA, March 2026) by issues with discretionary commission arrangements (DCAs) up to 1 November 2024. In Somerset, an estimated 54,054 residents may have been impacted by these issues, affecting a wide range of vehicles from cars to commercial vans.
Close Brothers Motor Finance Car Finance Agreements in Somerset
Somerset's population stands at approximately 572,000 (ONS Census 2021), making it one of the larger counties potentially affected by car finance issues. The number of agreements affected is significant: around 9% of the county’s residents may have been impacted by Close Brothers Motor Finance’s practices during the period from 6 April 2007 to 1 November 2024. These agreements include a variety of vehicles, ranging from personal cars to commercial vehicles such as vans and trucks. The issues stem from how Close Brothers Motor Finance structured its commission arrangements with dealerships, which may have led to inflated car finance costs for customers.
How to Complain to Close Brothers Motor Finance from Somerset
If you are one of the residents in Somerset who believes that your car finance agreement was affected by DCAs, you can file a complaint directly with Close Brothers Motor Finance. The company has set aside £300 million in provisions to address these issues (FCA estimate). To initiate this process, visit their dedicated complaints page at https://www.closemotorfinance.co.uk/complaints. making a complaint is free and does not require the involvement of any
claims management company.
What Somerset Residents Should Do Next
Residents who believe they may be affected should start by gathering relevant documents such as loan agreements, payment records, and correspondence with Close Brothers Motor Finance. Review these documents to confirm whether your agreement falls within the specified period from 6 April 2007 to 1 November 2024. Once you have identified that an issue exists, you can submit a complaint directly through Close Brothers Motor Finance's website.
It is crucial to act promptly and not delay in making your complaint. The company has established a clear process for handling these issues efficiently and fairly. By following the steps outlined on their complaints page, residents can ensure they receive the appropriate redress without needing to engage any third-party services.
Sources and references
- FCA estimates: 12.1 million eligible agreements (FCA, March 2026), £7.5 billion (FCA, March 2026) total (FCA estimate), £829 average per eligible agreement
- ONS Census 2021
- Close Brothers Motor Finance Complaints URL: https://www.closemotorfinance.co.uk/complaints
How Many People in Somerset Are Affected?
Based on Somerset's population of approximately 570,000, an estimated 119,104 motor finance agreements in the area may have been affected by discretionary commission arrangements (FCA estimate, proportional calculation). This represents approximately 0.85% 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).