The car finance industry in the South East may be affected by issues related to MotoNovo Finance, with an estimated 876,771 residents potentially impacted. This problem stems from a range of practices that have been scrutinised by regulatory bodies, including the Financial Conduct Authority (FCA), and involves financial agreements made between 6 April 2007 and 1 November 2024.
MotoNovo Finance Car Finance Agreements in South East
The FCA estimates that 12.1 million eligible agreements were affected across the UK, involving a total amount of £7.5 billion (FCA, March 2026). In the South East region alone, which has a population of around 9.3 million residents (ONS Census 2021), an estimated 6% of these individuals may have been impacted by problematic car finance agreements with MotoNovo Finance.
These issues primarily relate to practices such as discretionary commission arrangements (DCA) and unfair charges. Many vehicles financed under these schemes include cars, vans, motorcycles, and even some light commercial vehicles. The affected agreements were likely made through various dealerships and directly from MotoNovo Finance itself.
How to Complain to MotoNovo Finance from South East
South East residents who believe they have been impacted by unfair practices can complain directly to MotoNovo Finance for free without needing a claims management company. To initiate this process, visit the official complaint page at https://www.motonovo.co.uk/complaints. This direct approach is straightforward and does not require any upfront costs.
MotoNovo Finance is part of FirstRand Bank, which means that complaints are handled by a regulated financial institution. Residents should gather all relevant documents such as loan agreements, payment records, and correspondence with the lender before submitting their complaint. By taking this step, they can seek redress for unfair treatment without incurring additional expenses.
What South East Residents Should Do Next
South East residents who suspect that they have been affected by flawed car finance agreements should start by reviewing their documents to confirm the dates of their agreements and any unusual charges or commissions. It is crucial to ensure that these practices fall within the period from 6 April 2007 to 1 November 2024, as outlined by the FCA.
Once residents have confirmed the details of their agreement, they should proceed with a formal complaint directly to MotoNovo Finance using the provided URL. This process is free and does not require any intermediary services or legal representation. By taking these steps, South East residents can seek fair treatment and potentially recover overcharged amounts estimated at an average of £829 per affected individual (FCA estimate).
Sources and references
- Financial Conduct Authority (FCA)
- Office for National Statistics (ONS) Census 2021
- MotoNovo Finance Complaints URL: https://www.motonovo.co.uk/complaints
How Many People in South East Are Affected?
Based on South East's population of approximately 9,300,000, an estimated 1,943,283 motor finance agreements in the area may have been affected by discretionary commission arrangements (FCA estimate, proportional calculation). This represents approximately 13.88% of the UK total of 12.1 million eligible agreements.
MotoNovo Finance is registered at Companies House (company number 11556144) with a status of active. The company was incorporated on 2018-09-06. Its registered office is at Two, Central Square, Cardiff, CF10 1FS, Wales. The company currently has 9 directors.
MotoNovo Finance Complaint Statistics
According to the Financial Ombudsman Service, MotoNovo Finance received 4 total complaints in H2 2024 BUSINESS. You can check the latest complaint data at the Financial Ombudsman Service.
MotoNovo Finance's FCA reference number is 827851 (status: Authorised).