Northridge Commission Enquiry - Our Response

Marigoldz

Hi,

This is the agreement I took out with Northridge in 2018 which I am still paying back.

Fixed Rate Hire Purchase Agreement 
Rate of interest per annum: 4.9%
Annual Percentage rate: 6.9% APR

Interest charges were calculated at the outset of this agreement on the amount of credit using the rate of interest (per annum) for the duration of the agreement.  The interest charged forms part of the total charge for credit shown on the agreement which is added to the amount of credit and the resulting sum is paid in accordance with the repayment schedule. The total charge for credit and the APR have been calculated in accordance with the assumptions and formula contained in the Financial Conduct Authority's total charge for credit rules. 

This is Northridge's response to the Car Discretionary Commission inquiry.
Do have grounds to take further action or not?  

Dear Sir/Madam,

 

We've looked into your inquiry - your agreement didn’t have any commission paid.

 

This is because your agreement was arranged directly with us and not through a motor dealer or a credit broker.

 

For awareness, this response relates to agreement number ********XXXX only. If you’ve asked us about any others, we’ll review each one separately and send a response for each.

 

Getting in touch

If you’re not happy with how we’ve handled your enquiry, have any questions or need help contact us on 0800 018 9090.

 

Yours faithfully

Commission Support Team

dunstonh

Do have grounds to take further action or not?  

If the commission paid was £0 then any refund to you would be £0.    

It looks like you have misunderstood the issue.  It has nothing to do with loans arranged directly.

here_for_the_tips

Jumping on as I've had a different response from Northridge to the MSE template email sent 15/12/2024 in my inbox today (as well as a standard acknowledgment email last month) copied below. Took finance out through Arnold Clark, not admitting to or denying it but stating they're waiting for FCA and court guidance is pushing me towards yes Discretionary Commission was involved but we'll see. @Marigoldz when did you get in touch with them out of interest?

Hi,   We wanted to give you an update on your Northridge Motor Finance Commission Enquiry.   Agreement Number(s) Quoted: ************   We Want to Get This Right For You   There’s been a huge customer response to the Financial Conduct Authority’s review and we’re working through the enquiries. We’d like to apologise because we’re still looking into your enquiry. It's taking longer than we would’ve liked as we wait on further guidance from the Financial Conduct Authority and Courts.   You Don't Need To Do Anything   Don't worry, we’ll contact you to keep you updated. If you’ve any questions in the meantime, you can call us on 0800 018 9090.   What The Financial Conduct Authority Is Doing   The Financial Conduct Authority review is ongoing, with further guidance due to be issued in the coming months. You can find the latest information on the FCA website and the Northridge Finance Website.   Yours faithfully Commission Support Team Northridge Finance, 5th Floor, 1 Donegall Square South, Belfast, BT1 5LR

dunstonh

Took finance out through Arnold Clark,

So, yours is a different scenario.  You went through a dealer and the dealer is being treated as a broker.  Whereas the OP says they went direct.

here_for_the_tips

Yeah but just to get a feel for what each provider is doing here, depending on when the OP sent the email they potentially are going through claims to eliminate those with no DC liability and putting the rest of us on hold until the outcome is announced.

Nothing wrong with that of course (dec 2025 and all that) just I see on the board other providers have written back in a month or so to say yes you had DC applied, would be interested to know how long the OP waited for the yes / no answer on DC or not.

here_for_the_tips

Update email 11 March so 3 months to review and confirm DC applied

Dear Sir/Madam,

We’re Treating Your Commission Enquiry as a Complaint

We’ve checked your agreement and can confirm there was a discretionary commission arrangement in place between us and your motor dealer. This means your agreement may have been impacted.

Your Complaints Reference Number is: XXXXXXXX . You should quote this on any further contact with us about your complaint.

Will I Get Compensation?

We won’t know until the Financial Conduct Authority (FCA) completes their review. We’re not expecting further updates on this for some time.

How Long Will I Have To Wait?

The FCA has made some temporary changes in relation to commission complaints. This means you may not get a final response until after 4 December 2025 at the earliest.

You can find the latest information on the FCA website and the Northridge Finance Website.

What Happens Next?

Nothing more will happen until we receive further FCA updates. This should tell us what we need to do next in relation to your commission complaint. We’ll be intouch as soon as we can.

Getting In Touch

You don’t need to do anything. But if you’ve any questions, you can contact us on 0800 018 9090. We’re open Monday to Friday 9am-5pm. Make sure you have Your Complaints Reference Number to hand.

Yours faithfully Commission Support Team Northridge Finance, 5th Floor, 1 Donegall Square South, Belfast, BT1 5LR