Martin Lewis has issued an update on the car finance mis-selling uproar. Earlier this year, the Financial Conduct Authority confirmed it was investigating the mis-selling of loans for vehicles to people.
The Money Saving Expert website predicts that, on average, customers will be due £1,100 back each. People are being urged to make their claim by the end of today , although if you have a valid reason for not being able to make the claim before the deadline, you may still be able to request an extension.
It then proposed to move this to December 2025 to allow for more time to decide how to deal with the issue amid fears of the Financial Ombudsman being overwhelmed by complaints. It plans to publish the outcome of the review published by next May.