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Important updates

Motor finance complaints – important update 

The Financial Conduct Authority (FCA) has now published the final rules for an industrywide redress scheme following the Supreme Court ruling on motor finance commissions. Find out more

Sale of Loan Agreements to LCM Partners

Following our decision to stop new Vehicle Finance lending earlier this year, we have agreed to sell our Moneyway and V12 Vehicle Finance loan portfolios to LCM Partners. What does this mean for you?

Important: Motor Finance Commission Complaints

Updated: April 2026

The Financial Conduct Authority (FCA) has published final details of its industry wide compensation scheme (“the Scheme”). 

Further information is also available on the FCA’s website: Car finance complaints | FCA

We expect most complaints involving motor finance commissions to be resolved within the Scheme. However, if you have already complained and your complaint does not meet the conditions of the Scheme, firms have up to 8 weeks from 31 May 2026 to provide a final response. 

Using a claims management company (CMC) or law firm

You do not need to use a CMC or law firm to participate in the Scheme. If you are eligible for compensation, you will not receive a higher amount or receive payment any sooner by using a CMC or law firm.

The FCA has warned consumers;

“If you sign up to a CMC now, you may end up paying for a service you don't need, including up to 36% in fees, including VAT, out of any compensation you may receive.”

How do I contact you?

If you have a question or wish to raise a complaint, please use the details below;

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Telephone: 0330 3031 286

Write to us: Customer Resolutions, Moneyway, Yorke House, Arleston Way, Solihull, B90 4LH

Please note: We are unable to accept more than one motor finance commission complaint for each Moneyway agreement. We are also only able to deal directly with you or with a single representative acting on your behalf regarding your complaint. If you have instructed more than one firm to represent your complaint, we will contact you to confirm your instructions. If you have any queries regarding professional representation, please contact us.

What are the next steps?

The FCA published final details of the Scheme on 30 March 2026.

We expect most complaints involving motor finance commissions to be resolved within the Scheme.

We will begin contacting customers to inform them of the next steps during 2026. 

We will let you know if your finance agreement meets the conditions of the Scheme. If it does, your case will be assessed as part of the Scheme (unless you tell us you don’t want it to be). If your case isn’t eligible to be included in the scheme, we will explain why.

We currently expect to contact customers about existing complaints that meet the conditions of the finalised FCA scheme before the end of September 2026, for agreements entered on or after 1 April 2014. We will contact customers who entered their agreement before 1 April 2014 before the end of November 2026.

If you have already complained and your complaint does not meet the conditions of the Scheme, firms have up to 8 weeks from 31 May 2026 to provide a final response.

You do not need to complain directly to us to be considered under the Scheme. However, if you complain after the Scheme start date, we will assess whether your finance agreement meets the conditions of the scheme. If it does, your case will be assessed as part of the Scheme. If your case isn’t eligible to be included in the Scheme, we will explain why.

You do not need to complain directly to us to be considered for the Scheme. We will assess whether your finance agreement meets the conditions of the Scheme. If it does, we will ask if you want to join the Scheme. You will need to reply to say you want to join. If you don’t reply, we will not assess your case and you will not receive any compensation if you are eligible.

We currently expect to contact customers who have not complained before the end of December 2026, where they entered their agreement on or after 1 April 2014. We will contact customers who entered their agreement before 1 April 2014 and have not complained before the end of February 2027.

Please note, that if your agreement does not meet the conditions of the Scheme and you have not complained, we will not contact you.

We will not contact you if you do not complain and your agreement does not meet the conditions of the Scheme.

In some cases, even if your agreement does meet the conditions of the Scheme, we may be unable to contact you, for example, if we do not have your current contact details. If this applies to you, you'll have until 31 August 2027 to complain.

If you have already received a final response to your complaint and you are unhappy with the outcome, you can refer your complaint to the Financial Ombudsman Services (FOS). You must do this within the timescales set out in the final response letter.

If your previous complaint concerned a Discretionary Commission Arrangement (DCA), you can make a new complaint to us. Alternatively, if your finance agreement meets the conditions of the scheme, we will contact you to ask if you want your case to be assessed (see ‘If you do not complain’ above).

Your complaint will continue to be dealt with by the Financial Ombudsman Service (FOS).