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UK's Close Bros granted permission to appeal motor finance ruling

Published by Global Banking & Finance Review

Posted on December 11, 2024

1 min read

· Last updated: January 27, 2026

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Close Brothers Wins Right to Appeal UK Motor Finance Ruling

(Reuters) - British lender Close Brothers on Wednesday said that it had been granted permission by the UK Supreme Court to appeal a ruling that needed motor finance brokers to fully inform customers about commissions when taking out car loans.

The lender had paused writing new motor finance business in late October following the court ruling.

(Reporting by Yamini Kalia in Bengaluru; Editing by Maju Samuel)

Key Takeaways

  • Close Brothers can appeal a motor finance ruling.
  • UK Supreme Court granted the appeal permission.
  • The ruling involves commission disclosures by brokers.
  • Close Brothers paused new motor finance business.
  • The appeal impacts car loan commission transparency.

Frequently Asked Questions

What is the main topic?
The main topic is Close Brothers' appeal to the UK Supreme Court regarding a motor finance ruling on commission disclosures.
Why did Close Brothers pause their motor finance business?
Close Brothers paused their motor finance business due to a court ruling requiring brokers to disclose commissions.
What does the appeal involve?
The appeal involves a ruling that mandates motor finance brokers to inform customers about commissions on car loans.

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