Burnley Savings and Loans MOTOR FINANCE COMPLAINTS

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Burnley Savings and Loans MOTOR FINANCE COMPLAINTS

Effective from: 8th December 2025


Motor Finance Redress Scheme – Frequently Asked Questions (FAQ)

1. What is the Motor Finance Redress Scheme?

The Motor Finance Redress Scheme is an industry-wide process guided by the Financial Conduct Authority (FCA). It ensures customers are treated fairly where commission arrangements in motor finance agreements may have caused financial harm or an unfair outcome.


2. Why has my agreement been reviewed?

We may review agreements where commission was paid to a broker or dealer. This is part of our commitment to:

  • Treat customers fairly 

  • Follow FCA guidance 
  • Ensure transparency in how finance agreements were structured 


3. What is commission in motor finance?

Commission is a payment made by the lender to a broker or dealer for introducing a customer.

At Burnley Savings and Loans Limited:

  • Commission was pre-agreed and fixed
  • It was not linked to your interest rate
  • It was paid from our own funds, not added to your loan 


4. Did commission affect my interest rate or payments?

No.

Your:

  • Interest rate (APR) 
  • Monthly repayments 
  • Total cost of credit 

were not affected by any commission paid.

The broker or dealer had no ability to change your interest rate or loan terms.


5. What is a Discretionary Commission Arrangement (DCA)?

A Discretionary Commission Arrangement (DCA) is where a broker can influence the interest rate and earn more commission by increasing it.

We have never operated DCAs.
This means:

  • Brokers could not adjust your interest rate 
  • Commission was not linked to how much you were charged 


6. How do you decide if redress is due?

We follow FCA guidance and consider:

a) The commission arrangement

  • Was it fixed or variable? 
  • Could it influence your loan terms? 

b) The impact on your loan

  • Did it increase your interest rate or costs? 

c) Whether you suffered a loss

  • Did you pay more than you otherwise would have? 
  • Was the outcome unfair? 

We also carry out a “counterfactual assessment”, which means we check what would have happened if no commission had been paid.


7. What is a counterfactual assessment?

This is a standard FCA approach where we assess:

  • Would your interest rate have been lower? 
  • Would your monthly payments have changed? 
  • Would your total cost of credit have been reduced? 

If the answer is no, then no financial loss has occurred.


8. Why might I not be entitled to redress?

You may not be entitled to compensation if:

  • The commission did NOT AFFECT YOUR LOAN TERMS
  • You DID NOT PAY MORE as a result 
  • The outcome of your agreement was FAIR AND APPROPRIATE for your circumstances 
  • Alternative finance options available at the time would likely have been SIMILAR OR MORE EXPENSIVE 

9. Was the commission high or excessive?

No.

Our commission structure is:

  • CONSISTENT AND CONTROLLED
  • Typically LOW RELATIVE TO THE AMOUNT FINANCED  
  • Well below commonly referenced FCA “high commission” thresholds 


10. What if I still think something is wrong?

If you believe we have not considered all relevant information, you can contact us and provide further details. We will review your case again.


11. Can I take my complaint further?

Yes.

If you remain dissatisfied, you may be able to refer your complaint to the Financial Ombudsman Service (FOS).

They are an independent organisation that resolves disputes between consumers and financial firms.

Time limits and eligibility criteria apply.


12. Do I need a claims management company (CMC)?

No.

You can raise a complaint directly with us for free. Using a claims management company will not affect the outcome of your complaint, but they may charge you a fee.


13. How do you ensure fair outcomes?

We are committed to:

Following FCA rules and guidance 
Applying consistent and transparent review processes 
Ensuring customers are not disadvantaged 
Delivering outcomes aligned with the FCA’s Consumer duty 

14. How long does a review take?

We aim to complete reviews as quickly as possible. Timeframes may vary depending on:

The complexity of the agreement 
The information available 

We will keep you informed throughout the process.


15. How can I contact you?

If you have questions or want to discuss your agreement, please contact our customer support team using the details on our website.





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BANK OF DAVE
TAKES THE STAGE
TAKES THE STAGE
BAnK OF DAVE
LEARN MORE ABOUT THE MOVIES AND THE REAL EVENTS & REAL PEOPLE THAT INSPIRED THEM

Our Story

When the big banks turned their backs on hard-working people after the financial crisis, Dave Fishwick decided to do something about it . In 2011 he founded Burnley Savings and Loans with one radical idea at its heart: finance should be fair for everyone, and every penny of profit should go to good causes . He proved that a bank could lend to local people on decent, common-sense terms and still make a positive difference in the community .

What do we mean by “fair” finance? For Dave, fair finance means always putting people before profit. It means we work with a range of partner lenders to find you the best deal we can – if one of them can offer a better rate or a more suitable loan than we can, we’ll make sure you get that option . It also means doing everything we can to help more folks get approved for loans that are affordable and responsible, rather than leaving people with nowhere to turn. And “fair” isn’t just a slogan – it’s a promise that we give back to the community. We don’t pocket the profits ourselves; every pound we earn is donated to local charities and good causes to help others . In short, Dave’s approach is about doing what’s right for you, the customer, every single time.

Since then, this fair approach to finance has helped thousands of people across the UK, showing that banking can put people first. Dave’s mission has even inspired the Netflix “Bank of Dave” films and sparked a growing movement of ethical lenders fighting for real change in the financial world . As Dave himself puts it, we have a duty to act in the very best interests of our customers at all times – proving that finance can be fair, and that when you “Bank on Dave,” you’re banking on something better for everyone.

When the big banks turned their backs on hard-working people after the financial crisis, Dave Fishwick decided to do something about it . In 2011 he founded Burnley Savings and Loans with one radical idea at its heart: finance should be fair for everyone, and every penny of profit should go to good causes . He proved that a bank could lend to local people on decent, common-sense terms and still make a positive difference in the community .

What do we mean by “fair” finance? For Dave, fair finance means always putting people before profit. It means we work with a range of partner lenders to find you the best deal we can – if one of them can offer a better rate or a more suitable loan than we can, we’ll make sure you get that option . It also means doing everything we can to help more folks get approved for loans that are affordable and responsible, rather than leaving people with nowhere to turn. And “fair” isn’t just a slogan – it’s a promise that we give back to the community. We don’t pocket the profits ourselves; every pound we earn is donated to local charities and good causes to help others . In short, Dave’s approach is about doing what’s right for you, the customer, every single time.

Since then, this fair approach to finance has helped thousands of people across the UK, showing that banking can put people first. Dave’s mission has even inspired the Netflix “Bank of Dave” films and sparked a growing movement of ethical lenders fighting for real change in the financial world . As Dave himself puts it, we have a duty to act in the very best interests of our customers at all times – proving that finance can be fair, and that when you “Bank on Dave,” you’re banking on something better for everyone.

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Years fighting for you

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Years fighting for you

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Million in affordable loans

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Million in affordable loans

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Businesses helped

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Businesses helped

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Good causes supported

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Good causes supported

Get Fairer Finance Today &

Help Us To Give More By Applying Below

Get Fairer Finance Today &

Help Us To Give More By Applying Below

Why We Do This
WHERE OUR PROFITS GO

Why We Do This
WHERE OUR PROFITS GO

I sent an email asking for help to release me from being a mortgage prisoner. I didn't expect a response but to my surprise I was contacted by a Mortgage Avisor called James Adamson. James turned out to be my Knight in shining armour. He secured a Mortgage for me with Principality Building Society which has now completed and I am released from an interest only Mortgage. How I wish I had contacted the Bank of Dave sooner.

Margaret Ward

Helping real people obtain fair-rate loans that give back to society

Save yourself money. Help save and improve the lives of others.

Drone shot of a running track at night

Helping real people obtain fair-rate loans that give back to society

Save yourself money. Help save and improve the lives of others.

Drone shot of a running track at night

Helping real people obtain fair-rate loans that give back to society

Save yourself money. Help save and improve the lives of others.

Drone shot of a running track at night

Burnley Savings and Loans Limited is authorised and regulated by the Financial Conduct Authority (FRN: 717019).

We act as a credit broker and a lender. We can introduce you to a limited number of lenders who may be able to offer you finance facilities for your purchase, We will only introduce you to these lenders. We will receive a commission payment from the finance provider if you decide to enter into an agreement with them. Your interest rate is determined by several factors such as the age of the vehicle, the amount you borrow and the terms of the agreement. These factors may affect the commission we receive from the lender for any agreement that is entered. We will provide customers with a written breakdown of any commission paid by the lender prior to a signing of the credit agreement, which you will acknowledge the presence thereof.

Rates from 10.9%: The actual APR offered is subject to status and is based on your individual circumstances on application. Representative example: Borrowing £7,500.00 over 4-years with a representative APR of 22.1%, the amount payable would be £224.38 per month, with a total cost of credit of £3,270.24 and a total amount repayable of £10,970.24.

If you would like to know how we handle complaints, please ask for a copy of our complaints handling process. You can also find information about referring a complaint to the Financial Ombudsman Service (FOS) at financial-ombudsman.org.uk.

Registered in England and Wales. Company number 7640762

Burnley Savings and Loans Limited is authorised and regulated by the Financial Conduct Authority (FRN: 717019).

We act as a credit broker and a lender. We can introduce you to a limited number of lenders who may be able to offer you finance facilities for your purchase, We will only introduce you to these lenders. We will receive a commission payment from the finance provider if you decide to enter into an agreement with them. Your interest rate is determined by several factors such as the age of the vehicle, the amount you borrow and the terms of the agreement. These factors may affect the commission we receive from the lender for any agreement that is entered. We will provide customers with a written breakdown of any commission paid by the lender prior to a signing of the credit agreement, which you will acknowledge the presence thereof.

Rates from 10.9%: The actual APR offered is subject to status and is based on your individual circumstances on application. Representative example: Borrowing £7,500.00 over 4-years with a representative APR of 22.1%, the amount payable would be £224.38 per month, with a total cost of credit of £3,270.24 and a total amount repayable of £10,970.24.

If you would like to know how we handle complaints, please ask for a copy of our complaints handling process. You can also find information about referring a complaint to the Financial Ombudsman Service (FOS) at financial-ombudsman.org.uk.

Registered in England and Wales. Company number 7640762

Burnley Savings and Loans Limited is authorised and regulated by the Financial Conduct Authority (FRN: 717019).

We act as a credit broker and a lender. We can introduce you to a limited number of lenders who may be able to offer you finance facilities for your purchase, We will only introduce you to these lenders. We will receive a commission payment from the finance provider if you decide to enter into an agreement with them. Your interest rate is determined by several factors such as the age of the vehicle, the amount you borrow and the terms of the agreement. These factors may affect the commission we receive from the lender for any agreement that is entered. We will provide customers with a written breakdown of any commission paid by the lender prior to a signing of the credit agreement, which you will acknowledge the presence thereof.

Rates from 10.9%: The actual APR offered is subject to status and is based on your individual circumstances on application. Representative example: Borrowing £7,500.00 over 4-years with a representative APR of 22.1%, the amount payable would be £224.38 per month, with a total cost of credit of £3,270.24 and a total amount repayable of £10,970.24.

If you would like to know how we handle complaints, please ask for a copy of our complaints handling process. You can also find information about referring a complaint to the Financial Ombudsman Service (FOS) at financial-ombudsman.org.uk.

Registered in England and Wales. Company number 7640762