Close Brothers Motor Finance, one of the largest providers of car finance in Yorkshire and The Humber, has been involved in a regulatory action affecting thousands of residents across the region. According to figures provided by the Financial Conduct Authority (FCA), an estimated 517954 residents in Yorkshire and The Humer may have entered into potentially unfair agreements with Close Brothers Motor Finance between 6 April 2007 and 1 November 2024.
Close Brothers Motor Finance Finance Agreements in Yorkshire and The Humber
The impact of these agreements on the local population is significant, especially considering that Yorkshire and The Humber has a population of approximately 5,481,000 (ONS Census 2021). Based on FCA estimates, 12.1 million eligible agreements across the UK are potentially affected by this issue. Close Brothers Motor Finance's share of these agreements in Yorkshire and The Humber is substantial, with a wide range of vehicles being financed under these arrangements.
The types of vehicles that may have been impacted include cars, vans, and motorcycles. Individuals who entered into discretionary commission arrangement (DCA) car finance contracts during the specified period could be eligible for redress from Close Brothers Motor Finance. This issue highlights the importance of understanding the terms of your car finance agreement and seeking clarification if you suspect unfair treatment.
How to Complain to Close Brothers Motor Finance from Yorkshire and The Humber
Residents in Yorkshire and The Humber who believe they may have been affected by these agreements can complain directly to Close Brothers Motor Finance at their dedicated complaints URL: https://www.closemotorfinance.co.uk/complaints. This process is free, and residents do not need a claims management company to help them make a complaint.
Complaining directly to the lender allows individuals to avoid unnecessary costs associated with third-party services and ensures they receive the most accurate information about their specific situation. It is crucial for those affected to gather all relevant documentation, including contract terms, payment schedules, and any correspondence related to the car finance agreement.
What Yorkshire and The Humber Residents Should Do Next
Residents in Yorkshire and The Humber who are considering making a complaint should first review their financial records carefully. They need to ensure they have all the necessary documents, such as loan agreements, proof of payments, and details of any issues encountered with their car finance arrangement.
Once residents have gathered these materials, it is important to check if their agreement falls within the specified period (6 April 2007 to 1 November 2020). If they find that they are indeed affected by this issue, they should proceed directly to Close Brothers Motor Finance's complaint process without delay.
Sources and references
- 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
- ONS Census 2021: Population of Yorkshire and The Humber is approximately 5,481,000
- Close Brothers Motor Finance complaint URL: https://www.closemotorfinance.co.uk/complaints
How Many People in Yorkshire and The Humber Are Affected?
Based on Yorkshire and The Humber's population of approximately 250,000, an estimated 52,238 motor finance agreements in the area may have been affected by discretionary commission arrangements (FCA estimate, proportional calculation). This represents approximately 0.37% 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).