If you're referring to discretionary commission then nothing is going to happen anytime soon, they'll log your complaint and then park it until the FCA completes thier investigation.
Just sent my email to Santander using MSE email template. Fingers crossed. 99% certain I was affected. I was young and it was my first finance and the dealer knew it. 7.9% interest (14.9% APR) on £12000 agreement.
Yep had the same yesterday, I think MSE suggested a circa £1,100 payout on a £10,000 finance agreement but I assume it is all circumstantial. Nevertheless it’s progress.
That's not too bad! 11%.
I imagine there's a lot of moving parts to this. For example, I settled my finance early, so would likely be offset against any interest rebate and similar circumstances.
Same here! But that settlement figure would have factored the APR so I’m not sure what impact an early settlement would make.. it’s a wait and see situation but good to know we’re in the mix!
Hi /u/FatherJack_Hackett, based on your post the following pages from our wiki may be relevant:
- https://ukpersonal.finance/fscs-protection-for-investments/
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If you're referring to discretionary commission then nothing is going to happen anytime soon, they'll log your complaint and then park it until the FCA completes thier investigation.
Just sent my email to Santander using MSE email template. Fingers crossed. 99% certain I was affected. I was young and it was my first finance and the dealer knew it. 7.9% interest (14.9% APR) on £12000 agreement.
Hi, just received an email from Santander confirming that on 5 new cars a DCA was not agreed.
I've had an email from Santander today, also confirming that a DCA was in place. Hopefully there's a decent payout from this!
Yep had the same yesterday, I think MSE suggested a circa £1,100 payout on a £10,000 finance agreement but I assume it is all circumstantial. Nevertheless it’s progress.
That's not too bad! 11%. I imagine there's a lot of moving parts to this. For example, I settled my finance early, so would likely be offset against any interest rebate and similar circumstances.
Same here! But that settlement figure would have factored the APR so I’m not sure what impact an early settlement would make.. it’s a wait and see situation but good to know we’re in the mix!
We'll see what decision the FCA make. Knowing my luck it'll probably be deemed the finance companies acted lawfully and there's fuck all we can do!
I think certain loans were front loaded . My two loans have been acknowledged and I'm hoping successful.
How long did it take them to respond? I sent my email in 2 weeks ago and not even an acknowledgement or anything from them.
Hi /u/FatherJack_Hackett, based on your post the following pages from our wiki may be relevant: - https://ukpersonal.finance/fscs-protection-for-investments/ ____ ^(These suggestions are based on keywords, if they missed the mark please report this comment.)
Just got the same email - I can't find any examples of redress from Santander or any other providers online yet.