Motor Finance

Santander UK has told shareholders to expect more “efficiencies” this year after its profits slipped in the first nine months of the year, due to a drag from motor finance and restructuring costs. The group revealed a £179m increase in its motor finance provisions, booked in the fi

The Financial Conduct Authority (FCA) has issued fresh guidance to firms and consumers following legal challenges to its motor finance compensation scheme, confirming that a tribunal hearing is unlikely before October. The regulator reaffirmed that its priorities remain securing fair compensation fo

The Finance Conduct Authority (FCA) has secured a clearer path for its £9.1 billion motor finance compensation scheme after The Finance and Leasing Association (FLA) joined major banks in declining to mount a legal challenge. The industry body, which represents the UK's motor finance firms, sa

Adverts which used edited, unauthorised clips of Martin Lewis to make misleading claims about average motor finance compensation and used the Financial Conduct Authority (FCA) logo without permission, have been banned by the FCA.

The Financial Conduct Authority (FCA) has confirmed it will proceed with an industry-wide redress scheme to compensate motorists who were mis-sold car finance, following a finding by the courts that lenders broke the law by failing to disclose key information to customers.

Santander UK has delayed the publication of its third-quarter results, citing significant uncertainty over a proposed compensation scheme for the mis-selling of car finance.

The Financial Conduct Authority (FCA) has outlined proposals for an £11 billion compensation scheme for millions of motorists who were unfairly overcharged for car finance between 2007 and 2024. The £11bn total includes admin fees and is on the lower end of the FCA's previously earmarked

Motor insurers have changed their settlement and compensation practices after the Financial Conduct Authority (FCA) found some insurers had short-changed customers on stolen or written off vehicle claims.  It means that an estimated 270,000 motorists are expected to receive £200 million i

Andrew Foyle analyses the ramifications of a Supreme Court judgment on motor finance commissions, exploring the subsequent uncertainty for lenders and consumers, and the anticipated regulatory response from the Financial Conduct Authority. On 1 August 2025, the Supreme Court issued its judgment in t