Redress Outcomes
You have rejected my commission complaint as 'out of scope' of the FCA's Redress Scheme, what can I do now? Before issuing a final response, we’ll have checked your agreement and considered any concerns raised. The final response will detail the outcome, and what was considered.
If you have received a final response or a Redress Determination communication, but still don't agree with the outcome, you can refer your complaint to the Financial Ombudsman Service as detailed in the communication from us.
If you have received a final response but now have additional complaints that are not covered by the final response, please visit our [Complaints Procedure page](targetSelf:/en-gb/complaints-code/) for more information.Why are only out-of-scope customers, or those not receiving redress, being contacted? Although the scheme is still largely suspended while legal challenges are considered by the courts, the FCA require us to update customers whose agreements are within the unsuspended part of the scheme. This includes customers who have contacted us about agreements that we have identified as out of scope or ineligible for redress under the scheme. We want to make sure these customers receive an update without unnecessary delay.How do I tell you that I disagree with the Provisional Redress Decision? If you disagree with any part of the Provisional Redress Decision, you must contact us within one month of the communication date. We will acknowledge your objection and explain the next steps. Please contact us on 0117 957 7101 or motorfinanceredress@ayvens.com.What happens if I don't respond to my Provisional Redress Decision? If you do not contact us within one month of the date of your Provisional Redress Decision, we will issue a Redress Determination confirming the decision and close the case.What is the difference between a Provisional Redress Decision and a Redress Determination? A Provisional Redress Decision is our initial decision. It gives you the opportunity to accept the outcome, raise an objection, or opt out of the scheme within one month.
A Redress Determination is our final decision. Once a Redress Determination has been issued, you can no longer object to our decision, although you may be able to refer the matter to the Financial Ombudsman Service where permitted.You've confirmed that my agreement falls within the scope of the scheme, so why am I not entitled to any redress? Whilst your agreement may fall within the scope of the scheme, there’s a few reasons you might not be eligible for any redress:
No relevant arrangement - a relevant arrangement (either a DCA, tied or high commission arrangement) must have been in place for the agreement to be eligible for compensation. Based on the FCA's scheme, where there is no relevant arrangement, no unfair relationship existed, and therefore no redress is owed.
Relevant arrangement but commission is under the threshold - either a DCA, tied or high commission arrangement was in place and commission was paid to a third party (a dealer or broker). However, the amount paid was below the threshold set by the FCA (de minimis). No redress is owed because the FCA deem the amount of commission paid as fair.
Not a scheme case - The agreement didn't meet the conditions of a scheme case. This means that your agreement meets at least one of the following criteria:
- The total amount of credit exceeded the threshold as specified by the FCA
- No commission was paid on your agreement
- You cancelled or withdrew from your agreement within the cooling off period
- You've received a FOS decision or court judgement on your complaint
- You've already accepted an offer of redress for the same issue
- If the legal time limit for making that type of claim has passed
I've received a communication stating that no redress is due, why? We have reviewed your agreement in line with the scheme set out by the FCA and determined that no redress is owed. The reasons are set out in the communication you have received. If you have any questions about the outcome, please contact our team on the details provided.I've not received any communications about redress, why? We are only contacting customers who are not affected by the partial suspension of the scheme, or those whose agreements are not in scope of the scheme.
If you haven't been contacted yet, it may be because:
- we're working through the unsuspended population in batches and have not gotten to your agreement yet
OR
- your agreement is part of the suspended population and we are waiting on further guidance on the scheme from the FCA and Upper Tribunal.
Until the outcome of the legal challenges has been decided and the FCA communicate further instructions, we cannot confirm any next steps or specific details about redress payments, for those agreements in scope and eligible for redress under the scheme.
What happens if I accept the decision? By accepting, your case will be closed and the decision will become the full and final settlement of all claims against us by you that relate to the subject matter of covered by the scheme, including any legal claims.
This means that this claim and all other claims you have against us in relation to the scheme will be settled completely and you will not be able to seek money from us directly or through the courts in the future.
If you wish to object to our decision, opt out of the scheme or escalate the matter to the Financial Ombudsman Service, you should not accept the decision.
