Since the introduction of new rules on motor finance in 2017, Close Brothers Motor Finance has been at the centre of significant scrutiny within Surrey and across the UK. As of November 2024, approximately 113,684 residents in Surrey may be affected by issues related to car finance agreements issued between 6 April 2007 and 1 November 2024 (ONS/FCA estimate). This figure represents a substantial portion of the county's population of around 1.2 million people (ONS Census 2021).
Close Brothers Motor Finance Finance Agreements in Surrey
Close Brothers Motor Finance, part of the Close Brothers Group, is one of the largest providers of car finance in the UK, and its impact on residents in Surrey has been significant. The company estimates that over 12.1 million eligible agreements (FCA, March 2026) by the issue of Discretionary Commission Arrangements (DCA) during the specified period (FCA estimate). This means that many individuals who financed their vehicles through Close Brothers Motor Finance may have been charged unnecessarily high fees, which could amount to an average of £829 per agreement (FCA estimate).
The types of vehicles affected range from cars and vans used for personal use to commercial vehicles. In Surrey, a county known for its diverse vehicle ownership patterns, the impact on both private individuals and small businesses has been notable. For example, many residents have financed their daily commuting vehicles or business-related transportation through Close Brothers Motor Finance.
How to Complain to Close Brothers Motor Finance from Surrey
Surrey residents who believe they may be affected by these issues can complain directly to Close Brothers Motor Finance for free without the need for a claims management company. The process is straightforward, and the complaint form is available on their website at https://www.closemotorfinance.co.uk/complaints. By filing a direct complaint, Surrey residents can avoid unnecessary costs associated with third-party services.
What Surrey Residents Should Do Next
Surrey residents who suspect they may have been affected by the issues surrounding Close Brothers Motor Finance should take proactive steps to address the situation:
Gather Relevant Documents
Residents should collect all relevant documents related to their car finance agreements, such as contracts, payment receipts, and correspondence with the lender. These documents are crucial for substantiating claims.
Check Dates of Agreements
It is essential to verify that any affected car finance agreement was issued between 6 April 2007 and 1 November 2024. This period is critical because it encompasses the timeframe when the issues arose due to unfair fees and commissions charged by lenders like Close Brothers Motor Finance.
Complain Directly
Residents should file their complaints directly with Close Brothers Motor Finance using the dedicated complaint form available on their website. Doing so ensures that residents can receive a fair and unbiased assessment of their case without incurring additional costs.
Sources and References
- Office for National Statistics (ONS) Census 2021
- Financial Conduct Authority (FCA) estimates: 12.1 million eligible agreements (FCA, March 2026), £7.5 billion (FCA, March 2026) total, £829 average per eligible agreement (as of November 2024)
- Close Brothers Motor Finance website: https://www.closemotorfinance.co.uk/complaints
How Many People in Surrey Are Affected?
Based on Surrey's population of approximately 1,200,000, an estimated 250,746 motor finance agreements in the area may have been affected by discretionary commission arrangements (FCA estimate, proportional calculation). This represents approximately 1.79% 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).