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Major A-road shut in both directions after horror crash between SIX cars & lorry – and will stay closed ‘throughout day'

Major A-road shut in both directions after horror crash between SIX cars & lorry – and will stay closed ‘throughout day'

The Sun13 hours ago
DRIVERS have been warned of travel chaos after a horror crash between six cars and a lorry.
A "serious collision" has seen a stretch of the A11 shut down in both directions west of Norwich.
The road is blocked off from B1172 at SpoonerRow, and B1135 at Wymondham.
National Highways said: "Norfolk Police are on scene and have reported that the closure is likely to be in place throughout today."
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Martin Lewis explains how to claim car finance mis-selling compensation as FCA predicts payouts worth up to £950
Martin Lewis explains how to claim car finance mis-selling compensation as FCA predicts payouts worth up to £950

The Independent

time2 hours ago

  • The Independent

Martin Lewis explains how to claim car finance mis-selling compensation as FCA predicts payouts worth up to £950

Financial expert Martin Lewis has advised on the next steps for drivers who were mis-sold car loans, after a financial regulator said the industry could pay out up to £18bn in compensation. The Financial Conduct Authority is launching a compensation consultation which will determine how much is paid out to millions of people who paid more interest than they knew about. A Supreme Court ruling on Friday (1 August) found that lenders are not liable for hidden commission payments in car finance schemes, a decision which means most of the claims will not go ahead, but only the most serious claims will be eligible for compensation. But many cases in a separate strand of the car finance mis-selling case, which was not part of the Supreme Court ruling, are still likely to receive payouts, Mr Lewis explained. Am I eligible for the compensation scheme? Mr Lewis explains that there are 'two strands' of the car finance mis-selling case. Discretionary Commission Arrangements (DCAs), which Mr Lewis says will be the main form of compensation to come out of the consultation, were not involved in the Supreme Court case, he said. 'The one most people have complained about wasn't involved in the Supreme Court decision, although it was on hold just in case anything in that decision caused a wobbler for DCAs,' Mr Lewis added. DCAs were banned in January 2021, so anyone with a personal contract purchase (PCP) or Hire Purchase (HP) deals before then, is likely to have unknowingly agreed to one. 'It is when you went to a car broker or dealer and it increased the amount of interest that you were charged to increase the amount of commission without telling you,' Mr Lewis explained. Those who had PCP or HP deals are 'likely to get compensation under this scheme'. But Mr Lewis notes that those who had 0 per cent interest, or whose commission was very small, are unlikely to receive compensation. But he says that for most people, the compensation will be in the hundreds of pounds. The other strand of the mis-selling case is the one element of the Supreme Court case which was upheld by the court - with the other two being dismissed. This refers to commissions which were 'manifestly unfair', Mr Lewis explained, adding that it is harder to define because it was done on a case-by-case basis. Factors in the payout may even include how vulnerable you are - and whether it is therefore seen as more unfair for the commission to have been so high. As this is done case-by-case and it is not a blanket issue like the DCA cases, it is unclear how the compensation scheme will work for these, Mr Lewis said. What should I do next? For those that are unsure whether they are eligible, Mr Lewis advises putting in a complaint to see whether you had a DCA. 'If you're one of those people who have already had a letter saying that your car finance firm, after you complained, won't deal with it until December this year, that will almost certainly be delayed until next year,' he said. The FCA is advising consumers who believe they may have paid too much should complain now, and advise against using Claims Management Firms (CMC) or law firms, which could cost up to 30 per cent of any compensation fees received. Lenders will have to contact customers, and either automatically pay out consumers or consumers will have to opt into a scheme for compensation, meaning receiving compensation will be 'very simple to do', Mr Lewis explained. Therefore, CMCs and law firms could take 30 per cent of the compensation without doing any work. Mr Lewis' money advice website MoneySavingExpert offers a free tool which will do a template complaint for you for DCAs. How much could I be compensated? The FCA estimates that most individuals making claims will receive 'less than £950 in compensation per agreement'. The final cost of a compensation scheme will depend on the final design which it takes, the FCA added in its statement earlier today. The first payments are forecast to be made in 2026. For DCA cases, the maximum you could receive is all of the commission you paid, Mr Lewis said. It is more likely you will be paid the higher interest rate you were charged minus the standard interest rate. A simple interest - meaning the interest is calculated on the original amount of the loan - of roughly 3 per cent per year will be added on top of the payout, Mr Lewis added. 'The very high likelihood is that many people who had a discretionary commission arrangement where they were charged more interest than they should have been will get back a chunk of that in the hundreds of pounds at some point in 2026,' he said. But the expert warned that the industry could 'fight this hard', before he urged industry members to accept the 'fair compromise'.

The Guardian view on car finance scandal redress: mis-sold loans demand action, not excuses or spin
The Guardian view on car finance scandal redress: mis-sold loans demand action, not excuses or spin

The Guardian

time5 hours ago

  • The Guardian

The Guardian view on car finance scandal redress: mis-sold loans demand action, not excuses or spin

With its ruling in the car finance case, the UK supreme court sent a clear message: some motorists purchased vehicles with deals that were indeed unfair, but it's not the judiciary's job to redraw the boundaries of consumer protection law. That burden, the justices suggested, rests with regulators and elected governments. This reasoning is in line with a major speech in June by the court's president, Lord Reed, who argued that judges aren't policymakers – and shouldn't be. He led a bench that nonetheless upheld a finding of unfairness in the case of the factory supervisor Marcus Johnson. The court flagged the danger, defined the threshold – but stopped short of imposing redress itself. Now, the baton has been passed. Millions could get payouts if the Financial Conduct Authority (FCA) follows the court ruling with its proposed redress scheme, now out for consultation. The regulator admits what courts and campaigners have long suggested: that hidden commissions and opaque contracts were endemic, and that consumers were misled on a large scale. It may be 2025, but the roots of this scandal stretch back decades. More than 90% of new car purchases are financed, and for years, buyers weren't offered the best deal – just the one that earned the broker the biggest cut. Last October, the court of appeal saw hidden commissions as tantamount to bribes – secret incentives to push pricier loans. Banks had been on the hook for potentially £40bn in compensation had that view prevailed. But the supreme court disagreed. Dealers aren't fiduciaries, it said. They're not priests or doctors. They're salespeople and everyone knows it. The Treasury had tried, and failed, to intervene on behalf of banks that feared big payouts. The supreme court dismissed that petition with waspish brevity. Rachel Reeves may argue she was guarding financial stability, but it is not a good look to be siding with lenders over misled consumers, especially when there is a strong case to suggest regulators had been asleep at the wheel. The FCA now admits that many firms broke the rules. It plans a compensation scheme covering loans dating back to 2007, including both discretionary and some non-discretionary commission arrangements. The potential bill? At least £9bn, and possibly double that. Most individuals will probably receive less than £950 in compensation. The court's refusal to stretch the law to encompass issues of trust wasn't a shrug; it was a signal. The law allows unfairness to be addressed. But the heavy lifting must be done by the state. This episode lays bare a deeper malaise. Britain's credit system often runs on skewed incentives and asymmetric information. Brokers pose as advisers but act as commission-driven salespeople. In Mr Johnson's case a £1,650 hidden commission – a quarter of the car's price – went undisclosed. That's not a quirk; it's economics' classic lemons problem. In car finance, consumers didn't know how much brokers were pocketing or how that skewed the deal. Without trust or clarity, quality suffers – and everyone overpays for 'lemons' (duds). The court of appeal did focus minds; and failing to interpret the law robustly in the face of clear wrongdoing is itself a judicial choice. The supreme court smartly redirected the narrative. The regulator is stirring. Ministers must now support a consumer-facing system of redress and not shield the City from the consequences of its own mis‑selling. The public will be watching.

2024 Bentley Continental GT Speed For Sale With Just 6,500 Miles
2024 Bentley Continental GT Speed For Sale With Just 6,500 Miles

Auto Blog

time5 hours ago

  • Auto Blog

2024 Bentley Continental GT Speed For Sale With Just 6,500 Miles

By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. EV vs hybrid vs gas: which pollutes more, which lasts longer, and which costs society the most in hidden health and climate damage? How two of the most popular electric SUVs for 2025 stack up across range, charging, technology, utility, and value. Chevy's Toyota Tacoma contender is getting pricier, but 2025 models offer the same powertrain and more value. View post: Amazon Is Selling a 'Secure' $14 Car Phone Holder for 43% Off, and Shoppers Say It's 'By Far One of the Best' A British show of force Rolls-Royce and Bentley are two of the undisputed forces in the 'as opulent a car as money can get you' segment. The Bentley Continental GT has been the latter's grand touring centerpiece since 2003, as both a two-door coupe and a convertible, both with four seats. Those who wanted both grand touring luxury and tremendous power at the press of a pedal could opt for the Continental GT Speed, and this particular 2024 model with just 6,500 miles is for sale on Exotic Car Trader. You can check out the listing by clicking here. Previous Pause Next Unmute 0:00 / 0:09 Full screen 2025 Audi S3: 4 reasons to love it, 2 reasons to think twice Watch More The 2024 Bentley Continental GT Speed was the last one to feature the famous W12 engine that was used in the model since its introduction back in 2003. This generation of the Continental GT was the first production car to feature an entire body side made from what's called the 'Super Formed' process, a technique in which heated aluminium is molded with gas to create more complex, sharply defined body lines. That curvaceous exterior, featuring muscular haunches at the front and rear, is draped in a shade of Anthracite from Bentley's Mulliner range of colors and boasts the Continental Blackline Specification, complete with a Matrix grille. It sits on 22″ black Speed wheels, with the all-too-necessary self-leveling center caps so the general populace always knows they're in the presence of a Bentley. By providing your email address, you agree that it may be used pursuant to Arena Group's Privacy Policy. 2024 Bentley Continental GT Speed — Source: Exotic Car Trader Thinking about selling your car? Get a value estimate and list it online with Exotic Car Trader. Click here to learn more. The interior sports a largely matching black interior with Mandarin-colored accents on the seats, dashboard, center console, and doors. A few special cabin touches include an industry-first rotating display, a heated windshield, a high-gloss carbon fiber dashboard with diamond knurling, the Touring Specification, which adds lane keep assist and adaptive cruise control, and a 2,200W Naim sound system with 18 speakers and Active Bass Transducers built into the front seats. Above the passengers is a panoramic glass roof with LED lamps and the Mood Lighting Specification, to ensure the vibe within your Bentley is immaculate at all times. The last W12 has a menacing presence As previously mentioned, the real magic happens under the hood where the 6.0L twin-turbocharged W12 engine lives. The hand-built British beast makes 650 hp and 664 lb-ft of torque through an 8-speed dual-clutch transmission. Bentley reports a 0 to 60 mph time of just 3.5 seconds and a top speed of 208 mph. The titanium sports exhaust system helps channel the glorious roar of the 12 cylinders to the rear of the car, leaving behind a symphony wherever you go. Autoblog Newsletter Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Sign up or sign in with Google Facebook Microsoft Apple By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. 2024 Bentley Continental GT Speed 2024 Bentley Continental GT Speed Final thoughts Few cars can combine unmistakable opulence and brutish power in one perfectly molded package quite like a Bentley Continental GT Speed. From the crystal headlights and taillights to its curves and haunches, to its last-generation W12 engine under the hood, every inch of this car is an absolute sight to behold. The $279,999 asking price is also a sight to behold, but you are getting so much for that price tag that if I had the money, I wouldn't hesitate to hit that 'Buy Now' button. About the Author Gabriel Ionica View Profile

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