The Guernsey Financial Services Commission has published a short public survey seeking personal experiences of seeking, obtaining or using motor finance, with the aim of identifying common trends that will feed into supervisory work on the sector. Since 1 July 2023, the Commission has regulated loans and other consumer credit products under the Lending, Credit and Finance Law, including motor finance such as hire purchase, personal contract purchase and personal loans used to buy motor vehicles. The survey targets individuals with motor finance experience since 1 July 2023, can be completed anonymously, and is designed to take no more than 15 minutes, with paper copies also available. Responses are requested by 10 August 2023. The results are expected to inform a thematic review planned for later this summer on conduct risks in the local motor finance industry, focusing on whether customers are being treated fairly and in line with the new Lending, Credit and Finance requirements, with conclusions to be released early next year.
Guernsey Financial Services Commission 2025-07-21
Guernsey Financial Services Commission launches public survey on motor finance ahead of thematic conduct review
The Guernsey Financial Services Commission launched a public survey to gather experiences with motor finance since 1 July 2023, following the regulation of loans and consumer credit products under the Lending, Credit and Finance Law. The survey aims to identify trends for a thematic review on conduct risks in the motor finance sector, assessing customer treatment and compliance with new requirements. Results will contribute to a review planned for later this summer, with conclusions expected early next year.