Close Brothers resumes new lending after landmark court of appeal ruling

Close Brothers Motor Finance has resumed issuing new vehicle finance agreements as part of a phased return following its temporary pause in lending on October 25.

The halt was initially implemented in response to a Court of Appeal decision that mandates increased transparency in commission disclosures within the motor finance industry. The recent judgment has left the sector in disarray, as industry leaders assess how to adapt to these significant new legal requirements.

Close Brothers initially reintroduced new business on November 2 with specific partners and now plans to gradually restore lending operations with all third-party partners.