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Specialist Motor Finance Limited
Financial Ombudsman decision DRN-4695866 Upheld
Upheldoutcome, as published by the Ombudsman
£11,424redress stated in the decision
Thu Jul 25deadline to accept (not the decision date)
The Ombudsman does not print a decision date. The date above is the deadline the consumer was given to accept or reject the decision, which is set about a month after it was issued. It is reliable to the year, not to the month.
What this decision was about
In the Ombudsman’s words
Mrs L complains Specialist Motor Finance Limited (SMFL) irresponsibly entered into a hire purchase agreement because it didn’t complete reasonable and proportionate checks to ensure the agreement was affordable for her.Irresponsible lending
Rules cited
FCA CONC (Consumer Credit sourcebook), Consumer Credit Act 1974
Source
This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-4695866.pdf on financial-ombudsman.org.uk.
The outcome shown is the Ombudsman’s own published classification, not our reading of the text. Nothing here is legal advice, and a decision concerns only the complaint it was made about.