Blackhorse
Lloyds Bank Car Finance Claims
Lloyds Banking Group has set aside £1.2 billion to cover compensation claims linked to car finance mis-selling through its Black Horse Finance division. This is the largest compensation fund among all affected lenders. Black Horse Finance has been heavily implicated in the UK car finance mis-selling scandal, particularly regarding discretionary commission arrangements that allowed brokers to increase interest rates without proper disclosure. If you took out a PCP agreement funded by Lloyds Bank or Black Horse Finance, you may be entitled to compensation if the finance was not sold transparently or involved undisclosed commission.
BACKGROUND
Black Horse Finance, a subsidiary of Lloyds Banking Group, has been heavily implicated in the UK car finance mis-selling scandal. The core issue centres on discretionary commission arrangements (DCA), where brokers were able to increase interest rates to earn higher commission. In many cases, customers were not adequately informed that this discretion existed or how it affected the overall cost of their finance. As regulatory scrutiny continues, a growing number of Black Horse and Lloyds-funded PCP agreements are being reviewed for fairness.
WHAT THIS
MEANS FOR
YOU?
- Black Horse Finance brokers were able to increase your interest rate to earn higher commission
- You may not have been adequately informed that this discretion existed
- The practice of failing to disclose this discretion is now under regulatory scrutiny
- Lloyds Banking Group has set aside £1.2 billion to compensate affected customers
- Even if your agreement has ended, you can still make a claim
- Regulatory guidance continues to develop - register your claim now to protect your position
WHAT WE COVER
We specialise in reclaiming funds from Lloyds Bank and Black Horse Finance car finance agreements that involve undisclosed commission, excessive interest rates, or other unfair lending practices:
Undisclosed Commission
Black Horse Finance brokers earned commission by increasing your interest rate without adequately telling you. You may have signed a contract thinking you were getting a specific rate, but the broker secretly adjusted it upward through discretionary arrangements. You were not informed about how this discretion affected your total finance cost. You are entitled to a full refund of the commission and interest you overpaid.
EXCESSIVE INTEREST RATES
Brokers at Black Horse Finance were permitted to use discretionary commission arrangements to increase interest rates and earn higher commission. This often resulted in customers paying significantly more over the life of their PCP agreement. If your interest rate was higher than expected or not clearly explained, your agreement may qualify for compensation.
Mis-sold agreements
A Lloyds Bank or Black Horse Finance car finance agreement may be considered mis-sold if key information was missing, misleading, or unclear when you signed. This includes situations where you were not informed about broker discretion, where total costs were obscured, or where the agreement was not properly explained. Our team will assess your specific circumstances and determine eligibility.
WE’ll BE IN TOUCH
Once we receive your form, our team will review your details and get in touch with you as soon as possible. During this conversation, we’ll:
- Confirm your information
- Answer any initial questions you may have
- Discuss how we’ll proceed with your claim
LEAVE THE REST TO US
After the initial consultation, we take care of everything for you. Here’s what we do:
Document Review: We’ll analyse your car finance agreement and supporting documents to identify hidden charges, excessive interest, or mis-sold terms.
Case Preparation: Our team compiles all necessary evidence to build a strong case.
Negotiation and Reclaim: We handle all communications with lenders or financial institutions to recover your money.
REGULAR UPDATES
We believe in keeping you informed. Throughout the process, we’ll provide regular updates on the progress of your claim, so you’re never left in the dark.
GET PAID
Once your claim is successful, you’ll receive your reclaimed funds directly. It’s that simple!
CLAIMS PROCESS
HOW MUCH
COMPENSATION CAN
YOU CLAIM?
Compensation for Lloyds Bank and Black Horse Finance claims typically includes:
- Full refund of commission earned through discretionary arrangement manipulation
- Refund of all overpaid interest resulting from artificially inflated rates
- Statutory interest on the refunded amounts (typically 8% per annum from the date of breach)
- Additional compensation may be available depending on your specific circumstances
How Compensation Is Calculated:
Each claim is unique and depends on factors such as the original agreement amount, the interest rate that should have been charged, the rate actually charged due to discretionary arrangements, and the length of the agreement. Our claims team will review your agreement documents and provide you with a free compensation estimate.
WHY YOU SHOULD
TRUST PCP MISSOLD?
Our team of dedicated claims managers has extensive experience handling Lloyds Banking Group and Black Horse Finance car finance mis-selling cases. We understand the discretionary commission arrangements issue, the regulatory scrutiny surrounding DCA, and what Lloyds' £1.2 billion compensation scheme covers. Our claims strategy is grounded in the ongoing regulatory developments affecting this sector.
- FCA Regulated: We're authorised and regulated by the Financial Conduct Authority (FRN 1037114) to carry out claims management activities
- DCA Expertise: Our strategy focuses on discretionary commission arrangements and how they affected Lloyds and Black Horse Finance customers
- Largest Compensation Fund: Lloyds Banking Group's £1.2 billion setaside shows serious recognition of liability
- Financial Ombudsman Access: If a claim is unsuccessful, you can escalate to the Financial Ombudsman Service for free
- Transparent Complaints Procedure: Full details of how we handle complaints are available on request
LATEST NEWS
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FAQs
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