---
title: "Close Brothers Provisions £300m (What It Means for Customers)"
canonical: "https://carfinancerefundletter.co.uk/blog/close-brothers-provision-300m"
date: "2025-11-28T09:00:00.000Z"
---
# Close Brothers Provisions £300m (What It Means for Customers)

_Published: November 28, 2025_ · _2 min read_

Close Brothers has set aside £300 million for potential refunds. We analyze the impact on one of the UK's specialist merchant banks.

**Canonical:** [HTML article](https://carfinancerefundletter.co.uk/blog/close-brothers-provision-300m)

---

Close Brothers, a significant player in the used car finance market, has announced a provision of approximately **£300 million** to cover potential costs from the FCA's review into discretionary commissions.
        
## A Significant Sum
For a bank the size of Close Brothers, £300m is a massive figure. It highlights how widespread the practice of discretionary commission was within their network of dealers.
        
## The "Used Car" Factor
Close Brothers specialises in lending through independent dealers rather than big franchise showrooms. This sector often saw higher interest rates and more aggressive commission models, which explains the high provision relative to their market share.
        
## The Waiting Game
Like Lloyds, Close Brothers is currently pausing the settlement of complaints until the FCA provides clarity in December 2025. However, the money is there.
        
## Advice for Customers
If you financed a car through a local independent dealer, check your paperwork. There is a high chance it was underwritten by Close Brothers. If so, you should generate and submit your complaint letter immediately to ensure you are in the queue.