Close Brothers Motor Finance was specifically named in the landmark Court of Appeal ruling on PCP mis-selling. If you had an agreement with them between 2007 and 2021, you may have a strong compensation claim.
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Close Brothers Motor Finance is the motor lending division of Close Brothers Group plc, a specialist UK merchant bank. It was one of the most active non-bank motor finance lenders in the UK, funding car purchases through independent and franchise dealerships under the Close Brothers and Forthright Finance brands.
Close Brothers occupies a uniquely significant position in the PCP mis-selling scandal because it was one of the three lenders whose conduct was specifically reviewed in the landmark Hopcraft v Close Brothers Court of Appeal judgment in October 2024. That ruling found that Close Brothers had paid "secret" or "half-secret" commissions to dealers, constituting a breach of fiduciary duty to borrowers.
Following the Hopcraft ruling and the Supreme Court's subsequent judgment in November 2024, Close Brothers temporarily suspended its UK motor finance lending operations and has provisioned £300 million to cover expected compensation payments. The FCA has since confirmed that Close Brothers will be subject to the industry-wide redress scheme.
In Hopcraft v Close Brothers Ltd [2024] EWCA Civ 1289, the Court of Appeal ruled that Close Brothers had paid undisclosed "half-secret" commission to a motor dealer without the borrower's informed consent. The court held that this created an equity of rescission — meaning borrowers could potentially have their entire interest obligation set aside. This is one of the strongest legal foundations for any motor finance claim in UK history.
You are likely eligible if:
You may not be eligible if:
Close Brothers agreements are considered high-priority given the direct court ruling. Start your free check now to secure your position.