What Is the PCP Claim Deadline and Why Does It Exist?
The FCA's investigation into motor finance mis-selling is the largest consumer redress exercise in UK financial services history. With an estimated 14.2 million affected agreements and up to £8.2 billion in potential compensation, the regulator needed to establish an orderly process.
In January 2024, the FCA announced a formal review and paused the normal 8-week complaint response requirement, giving lenders time to prepare for a mass redress scheme. In January 2025, the FCA confirmed an extended deadline: 29 July 2026 is the cutoff for submitting complaints to lenders through the FCA's scheme.
After this date, lenders are only obligated to handle complaints received before the deadline under the streamlined scheme. Late complainants would need to approach the Financial Ombudsman Service (FOS) directly — a slower and less certain route.
The Full Timeline: What Has Happened and What Comes Next
What Happens If You Miss the Deadline?
Missing the 29 July 2026 deadline does not mean you have zero options — but it significantly reduces your chances of receiving compensation quickly and easily.
| Route | Before July 2026 deadline | After July 2026 deadline |
|---|---|---|
| FCA Redress Scheme | ✓ Fully accessible | ✗ Closed to new claims |
| Speed | ✓ Streamlined, within scheme timeline | ✗ FOS cases: 12–24 months+ |
| Financial Ombudsman (FOS) | ✓ Available as backup | ✓ Still available (free) |
| Cost to you | No Win No Fee via MotorRedress | FOS is free; legal action has costs |
| Certainty of outcome | ✓ Scheme provides structured redress | ✗ FOS decisions are case-by-case |
Who Is Eligible to Claim Before the Deadline?
You may be eligible to make a PCP claim before the July 2026 deadline if all of the following apply:
- You took out a car finance agreement (PCP or HP) in the UK
- The agreement was between April 2007 and November 2021
- The finance was arranged through a car dealer (not directly from the bank)
- You are a UK resident at the time of the agreement
You do not need to:
- Still own the car or have completed the finance agreement
- Have documentation from the original agreement
- Know the name of your lender (we can help identify this)
- Have already complained to the lender
Why Should I Register Now Rather Than Wait for the Scheme to Open?
This is a question we hear regularly. Here are five concrete reasons why acting now makes sense:
1. Claims Queues Are Already Building
Major lenders like Black Horse Finance (Lloyds) are already receiving hundreds of thousands of claims. The earlier you register, the earlier in the queue you will be when payments are processed.
2. Lenders Are Required to Respond
Once you submit a formal complaint (which we do on your behalf), the lender is legally required to acknowledge it and track it through to resolution. This creates a formal legal record of your claim.
3. You Lose Nothing by Acting Early
Registering your interest costs nothing and takes 60 seconds. There is no downside to acting now versus waiting. If your claim is not eligible, you simply will not proceed.
4. Solicitors' Capacity Will Fill Up
As the deadline approaches, law firms handling PCP claims will reach capacity. Registering early ensures you have specialist legal representation secured.
5. Documentation Is Easier to Obtain Now
Requesting your original finance agreement documents from lenders takes time. Acting now means any information-gathering can happen over months rather than being rushed.
Real Results: MotorRedress Clients Who Acted Before the Deadline
The following clients registered with MotorRedress before the deadline and have already received their compensation.
John Klerit, 44, Leeds — PCP 2018 • Black Horse • Ford Focus • £2,180 recovered
"I took out that Ford Focus on PCP back in 2018 and honestly forgot all about it. Two months after registering with MotorRedress, £2,180 landed in my account."
Martha Singh, 36, Birmingham — PCP 2019 • Santander Consumer Finance • Nissan Qashqai • £1,470 recovered
"Getting £1,470 back for our family is a real difference. They found my agreement without me needing a single piece of paperwork."
Yulia Volkov, 31, Manchester — PCP 2020 • MotoNovo Finance • VW Golf • £940 recovered
"I had no idea this kind of thing could happen. MotorRedress handled everything — I didn't have to deal with the lender directly at all."
Hagen Scholz, 48, London — PCP 2017 • Close Brothers Motor Finance • BMW 3 Series • £4,350 recovered
"I had three agreements in the affected period. MotorRedress found all of them. Anyone with UK car finance should check — the amounts involved are not trivial."
Individual results vary. These are confirmed payouts. No specific outcome is guaranteed.
How MotorRedress Handles Your Claim
When you register with MotorRedress, here is exactly what happens:
- Eligibility check (60 seconds) — You tell us the approximate dates and details of your car finance. We confirm whether your agreement is likely covered.
- We contact your lender — Our specialist team, supported by Milberg London solicitors (SRA: 670230), sends a formal data access request and complaint to your lender.
- Lender review — The lender must acknowledge your complaint and conduct a review under the FCA's framework.
- FCA scheme assessment — When the FCA's formal redress scheme launches, your claim is assessed against the scheme criteria.
- Compensation paid to you — If successful, the lender pays compensation directly to you. Our fee (30% inc. VAT) is deducted only at this point.