Important Information About the FCA’s Motor Finance Review
The Financial Conduct Authority (FCA) has confirmed that parts of its motor finance compensation scheme have paused while a legal challenge is considered. You can find further details about the scheme here: FCA confirms motor finance redress scheme | FCA. If you believe you may be affected, please visit our Motor Finance Commission Enquiry page for further details and guidance.
We use a calculation called the ‘actuarial method’ to work out your settlement figure. This calculation is prescribed to us by the Consumer Credit Act (Early Settlement) Regulations 2004.
Further information about the way we calculate your settlement figure is available here.
