Connect with us

Oxford News

Martin Lewis warning as £7.5bn car finance payouts confirmed

Published

on



The Financial Conduct Authority (FCA) says around 12.1 million agreements could be eligible for payouts, with drivers receiving an average of £829 each under a £7.5 billion redress programme.

Lewis described the move as “unprecedented”, warning that people who delay could lose out or face long waits for compensation.

“You want to be in the group that’s complained, not the group where the lender is having to find you,” he said.

Why Martin Lewis says you must act now

Lewis stressed there are three key reasons to submit a complaint as soon as possible:

  1. Faster payouts: “You’re likely to be paid out far more quickly sometime in 2026 rather than 2027.”
  2. Missing records risk: “The lender may no longer have your details you will be far better off if you complain.”
  3. Outdated personal details: “You might have changed name moved address three times so it could be unable to track you.”

He added that millions have already taken action: “We’ve had 3.6 million complaints most people tell me it’s dead easy.”

Who can claim compensation

The scheme covers car finance agreements taken out between April 2007 and November 2024, including:

  • PCP Personal Contract Purchase
  • HP Hire Purchase

But it excludes leasing agreements and some low commission deals.

The FCA estimates around 35 percent of agreements were mis-sold, often due to hidden commission structures such as discretionary commission arrangements, which were banned in 2021.

FCA chief executive Nikhil Rathi said the scheme aims to balance fairness and speed: “It will put £7.5 billion back into people’s pockets. Now we need everyone to get behind it and ensure millions get their money this year.”

He added: “Payouts should not be delayed any longer, especially as household bills come under greater pressure.”

Why payouts have increased

While the average payout has increased to £829, the overall compensation pot has dropped from earlier estimates due to:

  • Fewer eligible claims now estimated at 12.1 million
  • Stricter rules on low commission deals
  • Assumptions that fewer people will claim

Martin Lewis says the most important step is simple make a complaint even if you are unsure: “The only way you can know if you were mis-sold is to complain.”

He also warned that relying on lenders to contact you could leave you waiting longer or missing out entirely.


Recommended reading:


When payouts will happen

  • Some payments could begin this year
  • Most claims expected to be settled by the end of 2027
  • Earlier complaints likely to be processed first

With billions set to be returned to drivers, this is one of the largest consumer compensation schemes ever seen in the UK.

But as Martin Lewis makes clear, those who act first are likely to benefit most: “You want to complain now.”





Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Oxford News

New date set for Tommy Robinson appearance in Oxford

Published

on


The controversial figure, whose real name is Stephen Yaxley-Lennon, was due to speak at the Oxford Union on Thursday, May 28 before it was postponed over security concerns.

Yaxley-Lennon has been jailed multiple times for a variety of offences with his significant recent imprisonment in October 2024 for contempt of court.

And his planned visit had sparked furious backlash, with politicians in Oxfordshire saying he is “not welcome” to the city.

Tommy Robinson. (Image: PA)

However, a source at the historic debating society told this newspaper that Yaxley-Lennon is now due to appear for his debate on Islam on Wednesday, June 17.

The source added that this was the day before the Union’s Palestine debate on June 18.

“The concern is that the Union intends to announce the debate only shortly before it happens, apparently to minimise public backlash and make it harder for students, local councillors, community groups, or the police to respond in time,” the source added.

“There is also concern that the timing is designed to avoid internal accountability: under Union rules, the final date to file a no-confidence motion against president Arwa Elrayyes is understood to be 5 June.

“Announcing the event after that date would effectively prevent members from using that route against her before the end of term.”

The Oxford Union has not responded to requests for comment around the new date.

It’s been reported that Thames Valley Police quoted the Oxford Union security and policing costs between £50,000 and £80,000 to safely host the debate.

It’s also been reported that the Oxford Union is facing a “financial crisis” with donations drying up after the Charlie Kirk scandal in which the former president-elect appeared to make light of the US commentator’s assassination.

Thames Valley Police was asked whether it would be attending the debate and expected protest outside.

A spokeswoman said: “We work closely with partners through established safety advisory structures to ensure local events run safely and smoothly, while minimising disruption to our communities.”

In a statement announcing the postponement, the Oxford Union said: “The Fifth Week debate has been postponed from 28 May to later this term to allow time for planning of the event.

“We are grateful to our local partners and stakeholders for their continued support and engagement.

“We expect to confirm the new date shortly, following discussions with our speakers.”

Oxford East MP Anneliese Dodds also expressed concern at Yaxley-Lennon appearing in Oxford.

She said: “The hatred promoted by Stephen Yaxley-Lennon, also known as Tommy Robinson, has no place in our great city.”





Source link

Continue Reading

Oxford News

Oxford stalker to appear again at magistrates’ court

Published

on



Zac Sanger-Reynolds, of North Hinksey Lane in Oxford, previously plead guilty to stalking at High Wycombe Magistrates’ Court on Friday, April 28.

He will appear at the Buckinghamshire court on Thursday, June 4 for an application to vary a restraining order.

READ MORE: Documents show Oxfordshire footbridge has been sub-standard for over decade

Sanger-Reynolds was handed the order in April after a mother-of-two spoke to the Oxford Mail about his ‘obsession’ after she became uninterested in him after two dates.

He was told to complete 100 hours of un-paid, supervised work within 12 months and undertake 26 days of rehabilitation.

He was also ordered to pay £199, including £114 for the victim surcharge and £85 to the Crown Prosecution Service.





Source link

Continue Reading

Oxford News

Controversial Oxfordshire homes approved despite concerns

Published

on


Construction company Taylor Wimpey was granted the development on appeal in 2017 for up to 95 homes at Thames Farm, off Reading Road in Lower Shiplake.

It has since reduced this to 84 to provide adequate drainage because “the land is unstable and vulnerable to sinkholes”.

Taylor Wimpey said the new drainage plans will ensure there are no off-site impacts relating to surface water and this will include a basin on the western part of the site.

Members of the Thames Farm Action Group, which represents Shiplake residents, have concerns about the environmental impact of the scheme, which they say has no precedent in the UK.

The ground would have to be injected with grout and concrete to keep stable despite it sitting on top of an aquifer that supplies water to nearby towns.

READ MORE: Police action continues over dual carriageway after dangerous races

Freddie van MierloFreddie van Mierlo has consistently objected to the plans (Image: Contributed)

In July 2025, the planning committee of South Oxfordshire District Council voted to refuse the ground-stabilisation application despite a recommendation for approval.

Councillors cited concerns about possible impacts on the aquifer and public water supply.

The formal refusal notice stated the application “failed to demonstrate that the proposed engineering operations would not pose an unacceptable risk to the aquifer and nearby public water abstraction points”.

But now the plans have been given the go ahead by a separate planning inspector.

Despite objections from the district council the project appears to have been given the go ahead.

Freddie Van Mierlo, MP for Henley and Thame, said: “I will be working with The Thames Farm Action Group, Henley Town Council, Shiplake Parish Council and Harpsden Councils to ensure their voices are heard.”

The new report states there is a risk, but it’s “an acceptable level of risk” for the area.





Source link

Continue Reading

Trending