Home/Tag: Motor Finance

FCA Discretionary Commission, can this benefit motor finance?

By |2020-09-01T12:30:05+01:00September 1st, 2020|Categories: Leasing & Finance News|Tags: , , , |

Quotevine Chief Executive Daniel Layne said some concerns remain over areas of the ban, and more clarity is needed – including specific definitions around which vehicles it applies to – as well as the potential for unintended consequences such as dealers exploiting the loophole left by excluding personal contract hire (PCH) from the changes, in order to make up lost revenue.

FCA seeks to ban commission linked to interest rates on motor finance

By |2019-10-15T20:54:28+01:00October 15th, 2019|Categories: Leasing & Finance News|Tags: , , , |

The FCA estimates that its planned changes could save customers £165 million a year by removing the financial incentive for brokers to increase the interest rate a customer pays and give lenders more control over the prices customers pay for their motor finance.

FCA investigation into motor finance could widen to leasing brokers

By |2017-04-21T09:24:17+01:00April 21st, 2017|Categories: Leasing & Finance News|Tags: , , |

THE Financial Conduct Authority (FCA) is to investigate the motor finance industry. There are concerns that consumers may be borrowing more than they can afford. The FCA stated in its Business Plan 2017/18 that: "We are concerned that [...]