Blue Motor Finance

Gulp9652

I got the following response from BMF...

Thank you for contacting us to confirm whether any commission was paid to the Introducer regarding your above agreement and whether the commission was calculated using a Discretionary Commission Arrangement (“DCA”). After checking our records, we can tell you that we did pay a discretionary commission to the dealer.  We'll treat your email as your complaint.

 

I enclose a copy of our complaint handling procedure for your information. You will note that we are required under this procedure to provide a final response to your complaint within 8 weeks. You would then have the right to refer the matter to the Financial Ombudsman within 6 months from the date of our final response.

 

However, the Financial Conduct Authority (“FCA”) has recently introduced temporary changes to the handling of complaints where the complaint relates to a discretionary commission arrangement (“DCA”) between us and the Introducer and/or where the commission was calculated using a DCA commission model. I can confirm that an element of DCA commission was paid in connection with your above agreement.

 

The changes include a pause of the 8-week time limit in which we are required to provide our final response to your complaint. The pause will expire on 25 September 2024 and therefore based on the new rules currently in place, we will have 8 weeks from this date by which to issue our final response. In addition, the time-period in which you will have the right to refer your complaint to the Financial Ombudsman has also been extended from 6 months to 15 months from the date of our final response.

 

The FCA has introduced the above pause so that it can carry out a thorough investigation into complaints from customers regarding the cost of their car finance under the DCA commission model. You can find more information about the pause on the FCA’s website

 

Please note that in light of the above, we will hold your complaint paused pending the outcome of the FCA’s investigation and you will receive a final response from us within 8 weeks following the 25 September 2024.

 

We will keep in contact with you whilst we investigate your complaint. However, if you have any additional information that you would like to provide us in the meantime, please do not hesitate to contact us on 0203 005 9334. Our phone lines are open from 9am to 5pm on Monday to Friday, alternatively you can write to us at the address above or email us at complaints@bluemotorfinance.co.uk.

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Complaints Team Leader

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neilied

Used the online tool a few days ago and received an acknowledgment within hours. Yesterday I received the identical response as above.

neilied

Although I assume that the quoted September deadline is incorrect since FCA has extended to May 25?

Nasqueron

neilied said:

Although I assume that the quoted September deadline is incorrect since FCA has extended to May 25?

At the earliest, with ongoing court cases, may be December 25, if at all

DullGreyGuy

neilied said:

Although I assume that the quoted September deadline is incorrect since FCA has extended to May 25?

September was the original deadline for the FCA to publish the report but that has gone back to May 2025 however they've also now said that companies will have until December 2025 to respond to complaints. Both dates have been highlighted as under threat as litigation is underway and likely to be appealed and so the FCA will almost certainly want to know the outcome of that before publishing

neilied

Have this morning received an email from blue motor finance. The emails states the pause of the 8 week response and revised date of 4th December 2025 however then goes on to state that they then will have a further 8 weeks from this date to respond. They then go on to state that the right to refer has also been extended from 6 months to 15 months.

DullGreyGuy

neilied said:

Have this morning received an email from blue motor finance. The emails states the pause of the 8 week response and revised date of 4th December 2025 however then goes on to state that they then will have a further 8 weeks from this date to respond. They then go on to state that the right to refer has also been extended from 6 months to 15 months.

Yes, "the date" is when the clock starts ticking again so the normal 8 week limit will be on top of it. 

This however is only the current position, most think that it is going to be pushed back further as there are some cases being litigated and undoubtedly will be appealed and the FCA will want to know the final court position before finalising their own position.