Since April 2007, car finance agreements have been affected by various issues that may entitle eligible customers to compensation. In Surrey, residents who financed their vehicles through MotoNovo Finance might be among the 12.1 million eligible agreements individuals across the UK potentially impacted (FCA estimate). This article aims to inform Surrey residents about how they can seek redress from MotoNovo Finance directly and at no cost.
MotoNovo Finance Car Finance Agreements in Surrey
According to FCA estimates, around 113,684 residents in Surrey may be affected by car finance agreements (FCA estimate). With a total population of approximately 1.2 million people (ONS Census 2021), this represents nearly 10% of the county's inhabitants who could have been impacted by motor finance issues. These issues include mis-selling and unfair practices that might entitle customers to compensation. Vehicles financed through MotoNovo Finance range from cars, vans, and motorcycles to commercial vehicles, which cover a wide variety of consumer needs.
How to Complain to MotoNovo Finance from Surrey
Surrey residents can complain directly to MotoNovo Finance for free by visiting their dedicated complaints page at https://www.motonovo.co.uk/complaints. This process allows individuals to present their case without the need for a claims management company, as you do not require one to initiate a complaint. The FCA's guidance highlights that residents should gather relevant documentation such as agreement terms and emails before initiating contact with MotoNovo Finance.
What Surrey Residents Should Do Next
Before proceeding with a complaint, Surrey residents should first gather all necessary documents related to their car finance agreements. This includes the original financing contract, any correspondence with the lender, and evidence of payments made. It is crucial for individuals to review the dates within their agreement to ensure they fall within the period from 6 April 2007 to 1 November 2024 when these issues were prevalent.
Once residents have all necessary documentation in hand, they should proceed with submitting a formal complaint directly to MotoNovo Finance. This can be done via the dedicated complaints page on their website or by contacting them through other available channels such as phone or email. Residents should ensure that their complaint is detailed and clear, outlining any specific concerns about how their car finance agreement was handled.
Sources and References
- Office for National Statistics (ONS) Census 2021
- Financial Conduct Authority (FCA), 2024
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.
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).