Motor Watch Report
The FCA Scheme

How the FCA's motor finance redress scheme works

A plain-English walk-through of who the scheme covers, how the process runs, and what to expect at each stage.

  1. 1

    Eligibility

    The scheme covers regulated PCP, HP and conditional sale motor finance agreements taken out between 6 April 2007 and 1 November 2024.

  2. 2

    Lender review

    Once a complaint is raised, the lender must review the agreement against the FCA's framework and issue a written outcome.

  3. 3

    Redress decision

    If the complaint is upheld, the lender proposes redress. The FCA has referenced an illustrative average of around £829 per qualifying agreement — actual outcomes vary.

  4. 4

    Ombudsman referral

    If you disagree with the lender's decision, you can escalate free of charge to the Financial Ombudsman Service.

Want to see whether your agreement fits the scheme? Start with our 3-question check.

Check my eligibility

The FCA's Motor Finance Redress Scheme covers regulated motor-finance agreements between 6 April 2007 and 1 November 2024. Outcomes depend on the individual facts of each agreement and are not guaranteed. For official guidance visit the Financial Conduct Authority and the Financial Ombudsman Service.