Caravan finance

summerhat

Why is caravan finance not included in the mis selling action being brought against Black Horse? 

Nasqueron

Presumably because it didn't have that model of DCA or the FCA aren't looking at them

There is no action being taken against Black Horse, there is an investigation into potential mis-selling against the motor industry

MSE advice on caravans:

While the FCA investigation only covers vehicles with motors, if you bought a static caravan on finance, you can still ask whether your agreement had a DCA in place – as the same unfairness around DCAs could apply here too.

Sara Williams of Debt Camel has the following advice: "The DCA ban... is restricted to 'the motor finance market' and relates to 'regulated credit agreements to finance the acquisition of motor vehicles'. As a caravan does not have a motor, it would be out of scope.

"However that doesn't seem to me to prevent someone who bought a caravan on finance from asking whether there was a discretionary commission arrangement and taking their complaint to the Financial Ombudsman if there was or if the lender declines to reply. Because the unfairness in these arrangements is the complaint... and that applies whether or not there was a motor."

The FCA's pause on complain handling won't apply to a complaint about a caravan.

mickey2601

I Have recently discovered that i have one or more agreements with Blackhorse finance which had DCA applied, these were for a static caravan and not a motor vehicle, they have sent me a letter say they have received my complaint which was raised on 30th December 2024 with reference to the FCA pause on sending final response till December 2025. from above is this correct as it says the FCA's pause on complain handling won't apply to a complaint about a caravan. I Have contacted the FCA & FOS and no one can give me a straigt answer, I Have also e mailed blackhorse on 2 occasions and not had any response from them.

dunstonh

I Have recently discovered that i have one or more agreements with Blackhorse finance which had DCA applied, these were for a static caravan and not a motor vehicle, they have sent me a letter say they have received my complaint which was raised on 30th December 2024 with reference to the FCA pause on sending final response till December 2025. from above is this correct as it says the FCA's pause on complain handling won't apply to a complaint about a caravan

It is correct.  DCA complaints are paused.

 I Have contacted the FCA & FOS and no one can give me a straigt answer, I Have also e mailed blackhorse on 2 occasions and not had any response from them.

The FOS are taking instruction from the FCA and the FCA have yet to publish their report.  So, you are not going to get any more out of the FCA until the report is published.

In theory, the DCA issue shouldn't apply to non-motor finance.  However, its possible it will be extended into some other types of finance.   This is why the FCA report and the outcome of the court cases, along with the recent Treasury intervention to shut down some commission based complaints need to be completed first.

You need to wait.