1,000,000
CLASS MEMBERS
We estimate that one million consumers entered into affected finance agreements with their Black Horse, Santander or MotoNovo with the relevants period and are therefore in the class.
£1,100
LOSSES
In final finding, to UK Financial Conduct Authority estimated on typical motor finance agreement of £10,000 the discretionary commission model could have resulted in class members paying around £1,100 extra in interest over the four year term of agreement.
£900,000,000
CLAIM VALUE
Based on the FCA’s calculations, we estimate that the claims could be worth around £900 million in total.