Blackhorse Discretionary Commission Confirmed

bman999

I used the MSE template and emailed Blackhorse enquiring about DCA. I've received a response from Blackhorse to say there was discretionary commission applied to my agreement. They have sent me a letter asking me to fill in an online form to make a complaint.

There are 2 comment boxes on the form...

1. Please tell us about your complaint. Give us as much detail as possible. Include information about any conversations you had when you took the agreement out, or any documentation given.

2. How you feel we could put this right?

Does anyone have advice as to what I can write? I want to get it right and have the best chance of receiving compensation.

dunstonh

Does anyone have advice as to what I can write? I want to get it right and have the best chance of receiving compensation.

Nobody knows if there is going to be any compensation or not.  Whilst it does seem likely where there has been negative DCA (interest rate increased), it is unlikely if its neutral (available to be used but wasn't) or positive (where rate was lowered).   Black Horse have just said it was available.   You don't know if it was negative, neutral or positive and Black Horse cannot act on that until the FCA publish their report.

Black Horse are using the standard template at the moment but the looks of things.  You don't need to put anything at this stage as its the FCA that is going to decide this.  Not you or Black Horse.

So, as it stands, you just need to reply saying that you want your case looked at in accordance of the FCA guidelines, once published.

Regina452

Hello, by any chance did your letter also include a line if your agreement did include DCA, that this does not mean you will be automatically entitled to compensation?

dunstonh

Regina452 said:

Hello, by any chance did your letter also include a line if your agreement did include DCA, that this does not mean you will be automatically entitled to compensation?

It doesn't matter what it says in that respect as the FCA has not made its decision yet.  So, its not for the lender to say.   The post above explains why DCA existing may not result in compensation.