Course description
In March 2019 the FCA published findings of a review of the motor finance sector. It found that a high proportion of car dealerships were selling PCP loans or finance products with highly questionable secret commission that was attached to the interest placed on that finance.
Mis-selling claims are now being brought against lenders and brokers to remedy inflated interest rates that consumers were unknowingly duped into agreeing.
2024 saw two significant cases in PCP mis-selling: a Court of Appeal decision and a High Court judicial review. These cases will be considered in detail in this virtual classroom seminar, along with the stay by the FOS. The session will also cover the criteria for bringing a claim and the practicalities of issuing the claim.
Upcoming start dates
Outcome / Qualification etc.
Training Course Content
Introduction
Another financial mis-selling crisis has emerged.
In March 2019 the FCA published findings of a review of the motor finance sector. It found that a high proportion of car dealerships were selling PCP loans or finance products with highly questionable secret commission that was attached to the interest placed on that finance.
Mis-selling claims are now being brought against lenders and brokers to remedy inflated interest rates that consumers were unknowingly duped into agreeing.
In 2024 we have seen two significant cases in PCP mis-selling: a Court of Appeal decision and a High Court judicial review. Those will be considered in detail as well as the stay by the FOS.
What You Will Learn
This live broadcast will cover the following:
- An overview of PCP and vehicle loans
- The legal framework
- Criteria for bringing a claim
- Practicalities of issuing the claim
- The very latest caselaw - Self v Santander and Clydesdale Financial Services (September 2024), R (on the application of) v FOS (December 2024)
- Quantum
Expenses
MBL Seminars Limited
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