Close Brothers Car Finance Claims
Check your car finance claim eligibility in as little as 60 seconds. On average we find 2 car finance agreements per client, giving a potential claim value of £1658**
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Average of £829** per agreement
Soft credit searchCould your Close Brothers Car Finance have been mis-sold?
Some agreements included commission setups that weren't always made clear at the time. If you had a PCP or HP agreement between April 2007 and November 2024, you may have been affected by one of the following:
Discretionary Commission Arrangements (DCAs)
The interest rate could be increased, and that increase could boost dealer commissions.
Unfairly High Commission Charges
The commission paid may have been disproportionate to the finance agreement.
Contractually Tied Arrangements
The broker may have been tied to one lender, rather than comparing options fairly.
Close Brothers Motor Finance Claims Explained
Close Brothers Motor Finance is a UK lender that provides regulated car finance through dealerships and credit brokers. Agreements are commonly arranged as Hire Purchase, and in some cases, Personal Contract Purchase or Conditional Sale. As with other lenders across the motor finance sector, concerns have been raised about how some historic agreements were structured and explained, particularly in relation to commission arrangements.
Close Brothers motor finance claims usually focus on whether key information was clearly disclosed at the time the agreement was arranged. In parts of the motor finance market, dealers previously operated under discretionary commission models. These arrangements allowed the broker to adjust the interest rate within a set range and receive commission linked to that rate.
If the way commission worked was not properly explained, customers may not have understood that the interest rate could vary depending on the dealer’s commercial relationship with the lender. The Financial Conduct Authority requires firms to communicate in a way that is clear, fair and not misleading.
Most Close Brothers motor finance claims relate to Hire Purchase or PCP agreements entered into between 2007 and 2024, before regulatory changes restricted discretionary commission models. Not all agreements will fall within scope. Standard leasing agreements and short-term rentals are generally structured differently and are usually outside commission-related complaints.
Making a Close Brothers motor finance claim does not automatically result in compensation. Each agreement must be assessed individually. This involves reviewing how the interest rate was presented, whether commission arrangements were disclosed, whether affordability checks were carried out appropriately, and whether the overall sales process met FCA standards in place at the time.
The FCA has introduced temporary adjustments to complaint handling deadlines while it completes its broader review into historic commission arrangements. You can still submit a complaint to Close Brothers Motor Finance. If you are dissatisfied with the final response, you can refer the matter to the Financial Ombudsman Service free of charge.
If you are reviewing your agreement, it may help to check the date the finance was taken out, the type of agreement used, and the dealership that arranged it. This information can help determine whether your Close Brothers finance agreement may fall within current regulatory considerations.
If you are unsure how to proceed, Mis-Sold Expert provides clear information to help you understand your options.
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