Blackhorse
Lloyds Bank Car Finance Claims
Lloyds Banking Group has set aside £1.2 billion to cover potential compensation claims linked to car finance mis-selling through its Black Horse Finance division. If you took out a PCP agreement funded by Lloyds Bank or Black Horse, you may be entitled to compensation if the finance was not sold transparently or involved undisclosed commission.
BACKGROUND
Black Horse Finance, a subsidiary of Lloyds Banking Group, has been heavily implicated in the UK car finance mis-selling scandal.
The issue centres on discretionary commission arrangements, where brokers were able to increase interest rates to earn higher commission. In many cases, customers were not adequately informed that this discretion existed or how it affected the overall cost of their finance.
As regulatory scrutiny continues, a growing number of Black Horse and Lloyds-funded PCP agreements are being reviewed for fairness.
WHAT WE COVER
We help customers reclaim money from car finance agreements that may have been unfairly structured or mis-sold.
HIDDEN CHARGES
Some car finance agreements included costs or commission that were not clearly explained at the point of sale. This can include broker commission or additional charges built into the agreement without transparent disclosure.
Where key charges were not properly explained, customers may be eligible to seek compensation.
EXCESSIVE INTEREST RATES
In certain cases, brokers were allowed to increase interest rates to earn higher commission. This often resulted in customers paying more over the life of their PCP agreement than they otherwise would have.
If your interest rate was higher than expected or poorly explained, your agreement may be suitable for review.
Mis-sold agreements
An agreement may be considered mis-sold if important information was missing, unclear or misleading when you signed.
Our streamlined process is designed to make reclaiming money straightforward and hassle-free, with clear guidance throughout.
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