What to do if you are a customer

I’M a Brighthouse customer - what should I do?

Customers won’t need to do anything as Brighthouse (a trading name of Caversham Finance Limited) will contact all those affected and notify them if they are due a refund.

Will I be entitled to a refund?

There are two specific circumstances in which customers would qualify.

1) Customers whose circumstances have not been assessed properly at the beginning of the loan to determine whether they could afford it and may have had difficulty making payments. Customers who handed back the goods will be paid back the interest and fees charged under the agreement, plus compensatory interest of 8%. Customers who retained the goods will have their balances written off. This redress totals around £10.1 million for 114,000 agreements entered into between 1 April 2014 and 30 September 2016, covering 81,000 customers.

2) Customers who made the first payment due under an agreement with the firm which was cancelled prior to the delivery of the goods. This first payment was not returned to all customers. BrightHouse will refund this first payment plus pay compensatory interest of 8pc. This redress totals around £4.7 million for 270,000 agreements entered into after 1 April 2010 covering 181,000 customers. More information is published on Brighthouse’s website brighthouse. co.uk/fca-statement.