Moneybarn is a specialist sub-prime motor finance lender that has been in the spotlight due to an investigation by the Financial Conduct Authority (FCA). The FCA’s probe into discretionary commission arrangements, which affects millions of agreements across multiple lenders including Moneybarn, highlights significant issues within the industry. As a subsidiary of Provident Financial, Moneybarn operates primarily in financing cars and vans for customers who may have difficulty obtaining traditional finance due to their credit history.
Latest: The FCA has confirmed the car finance compensation scheme on 30 March 2026. 12.1 million agreements are eligible, with an FCA-estimated scheme average of £829 per eligible agreement. Read the full details.
Who is Moneybarn?
Moneybarn is a part of Provident Financial, a large financial services group based in the UK. The company specialises in providing motor finance solutions for individuals with less-than-perfect credit scores, making it easier for them to access car and van loans. Since its establishment, Moneybarn has been known for offering flexible financing options that cater specifically to this segment of the market.
What Happened
The FCA initiated an investigation into discretionary commission arrangements within motor finance companies, including Moneybarn (FCA reference number: 315163). This probe uncovered practices where lenders were allegedly paying commissions on loans based on factors like early repayment or loan extensions. The investigation found that these practices could lead to unfair outcomes for consumers, as they might be charged excessively high interest rates and fees.
How Many People Are Affected
According to the FCA’s estimate, 12.1 million eligible agreements (FCA, March 2026) are affected by this issue across various lenders from April 6, 2007, to November 1, 2024. The total estimated redress amount for these mis-sold agreements is £7.5 billion (FCA estimate), with an FCA-estimated average of £829 per eligible agreement. This investigation highlights the widespread nature of the problem and its significant impact on consumers.
If you believe that your motor finance agreement with Moneybarn was mis-sold, you can
complain directly to them for free. Visit their complaints page at https://www.moneybarn.com/complaints/ or contact them by phone at 0345 504 7654, email at complaints@moneybarn.com, or post your complaint to Moneybarn, Athena House, Bedford Road, Petersfield GU32 3QA. You do not need a
claims management company to file a complaint; the process is straightforward and free of charge.
What to Do Next
To effectively address any concerns regarding your motor finance agreement with Moneybarn, start by gathering all relevant documents such as loan agreements, payment records, and correspondence with the lender. Check if your agreement falls within the affected period (6 April 2007 to 1 November 2024). Once you have compiled these details, submit a formal complaint directly to Moneybarn using their official channels.
Timeline
After submitting your complaint, Moneybarn should acknowledge receipt of your complaint and provide an estimated timeframe for resolution. Typically, lenders aim to resolve complaints within eight weeks from the date they receive them. If you do not receive a satisfactory response or resolution after this period, you have the right to escalate your case to the
Financial Ombudsman Service (
FOS) free of charge.
By following these steps and engaging directly with Moneybarn, consumers can seek fair compensation for any mis-selling issues without needing to engage third-party claims management companies.
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MLJ.org.uk (mlj.org.uk) is a free, independent information service. We are not a claims management company, solicitor, law firm, or financial adviser. We do not handle complaints, process claims, charge fees, or accept any percentage of compensation. This information does not constitute legal or financial advice. You can complain to your lender directly for free. You do not need a claims management company. If your lender rejects your complaint, you can escalate to the Financial Ombudsman Service at no cost. For personalised legal or financial advice, consult a qualified professional.