Blue Motor Finance Under Pressure As FCA Compensation Costs Shake The Industry
Blue Motor Finance has moved into the spotlight after reports suggested the lender could be facing serious financial pressure linked to the FCA’s motor finance compensation scheme.
FCA Motor Finance Compensation Scheme Challenged
The FCA’s motor finance compensation scheme has now been challenged, which is likely to delay payouts and may extend how long you have to make a claim.
FCA 39% Commission Threshold Explained: Could Your Car Finance Qualify?
One of the most important parts of the FCA’s car finance redress scheme is how it defines “high commission”. This matters because not every car finance agreement will qualify for compensation. The FCA has introduced clear thresholds to identify when commission becomes significant enough that failing to explain it properly may have created an unfair relationship.
FCA Confirms Average Car Finance Payout of £829 Per Agreement
The Financial Conduct Authority has finally confirmed the compensation figures for mis-sold car finance, giving much needed clarity to an issue that has affected millions of people across the UK.