FCA Motor Finance Consumer Redress Scheme

A regulator-run, largely automatic redress scheme covering ~12.1M motor finance agreements (Apr 2007 - Nov 2024) with undisclosed discretionary or high broker commissions; average redress ~£829/agreement from a ~£7.5bn pot.

Anmeldezeitraum

No individual claim deadline as of assessment date — the scheme is regulator-run and largely automatic, but is partially suspended by Upper Tribunal order (July 2, 2026) pending an appeal hearing. Most consumers need take no action now; a person who already complained will be told by Nov 2026/Jan 2027 if they are not owed compensation. If the scheme is upheld, payments could start in 2027; if overturned, redress could be delayed to 2028+.

No individual claim deadline as of assessment date — the scheme is regulator-run and largely automatic, but is partially suspended by Upper Tribunal order (July 2, 2026) pending an appeal hearing. Most consumers need take no action now; a person who already complained will be told by Nov 2026/Jan 2027 if they are not owed compensation. If the scheme is upheld, payments could start in 2027; if overturned, redress could be delayed to 2028+.

Geschätzte Auszahlung

~GBP 829 typischerweise

Average redress ~£829/agreement from a ~£7.5bn total pot; individual amount depends on commission structure and loan terms and is not yet being calculated while the scheme is suspended.

Geschätzte Zahl der Betroffenen

~12.1 million motor finance agreements