Motor Finance Mis-Selling - A Bite-Sized Update

Introduction

Another financial mis-selling crisis has emerged.

The end of 2024 saw two major decisions in PCP Vehicle finance mis-selling.

This started in March 2019 when the FCA published findings of a review of the motor finance sector.

It found that a high proportion of car dealerships were selling PCP loans or finance products with highly questionable secret commission that was attached to the interest placed on that finance.

Mis-selling claims are now being brought against lenders and brokers to remedy inflated interest rates that consumers were unknowingly duped into agreeing.

In 2024, there were some significant cases in PCP mis-selling: a Court of Appeal decision and a High Court judicial review.

These cases will be considered in detail as well as the current stay on PCP cases imposed by the FOS.

What You Will Learn

This short webinar will cover the following:

• An overview of PCP and vehicle loans
• The legal framework
• Criteria for bringing a claim
• Practicalities of issuing the claim
• The very latest caselaw - Self v Santander, Johnson v FirstRand, and Clydesdale Financial Services (September 2024), R (on the application of) v FOS (December 2024)
• Quantum

This pre-recorded webinar will be available to view from Wednesday 25th June 2025

Alternatively, you can gain access to this webinar and 1,700+ others via the MBL Webinar Subscription. Please email webinarsubscription@mblseminars.com for more details.