PCP247

PCP247: mis-sold vehicle finance claims in the UK

PCP247 is a claims management company (CMC) based in the UK operating under the trading name of Mark Leckie. Its activity focuses on reviewing vehicle finance agreements —PCP, HP and PCH— to determine whether the client may have been a victim of mis-selling and, if so, to handle the corresponding compensation claim. The firm is authorised and regulated by the Financial Conduct Authority (FCA) with reference number 834008, and is registered with Companies House and on the FCA register.

What it reviews and who it is aimed at

The company targets consumers who have taken out finance to purchase a vehicle through PCP, HP or PCH and suspect that the terms were not clear, that pressure was applied to sign, or that other options were not presented. PCP247 locates the applicant's historic finance agreements and assesses whether there are eligible claims. According to the company, agreements that have already ended or relate to vehicles the client no longer owns may still be eligible for a claim, and it is possible to claim for more than one agreement, with each assessed individually. It also considers the possibility of claiming on behalf of a deceased person if the applicant is the executor or authorised representative. Claims for agreements before April 2007 are not accepted, as the applicable consumer protection regulations came into force from that date.

Regulatory framework and compensation scheme

The FCA has confirmed a compensation scheme for vehicle finance. According to information published by PCP247, the regulator estimates that eligible consumers could receive an average of £829 per agreement. The company notes that the deadline to submit a claim is 31 August 2027, and that the FCA extended until 31 May 2026 the deadline for lenders to respond to complaints before starting its implementation period. PCP247 states that consumers can claim on their own for free, directly with their lender or through the Financial Ombudsman Service (FOS).

Processing and fee model

The process begins with locating the client's finance agreements based on the information they provide. PCP247 identifies potentially eligible claims and manages the procedure from start to finish, although it may refer the case to a third party for processing. The partner solicitors work on a no-win, no-fee basis: they do not charge if the claim is unsuccessful. If successful, they apply fees on a sliding scale from 18% to 36% (including VAT) of the compensation obtained. The company warns that it may receive referral fees from third parties for successful claims, at no cost to the client, and that using its services does not guarantee a faster or better outcome. If the client cancels after the 14-day cooling-off period, the solicitors may apply a charge for work already carried out, in accordance with Solicitors Regulation Authority requirements. During the first 14 days no charge is applied.

Frequently asked questions and consumer protection

The company clarifies that it is not necessary to take out insurance as is the case with some law firms, since CMCs do not require clients to enter into policies. It notes that submitting a claim does not affect credit score or existing finance agreements, and that personal data is processed in accordance with its privacy policy, used only to manage the claim when authorised. Regarding the possibility of changing claims manager, PCP247 states that it can take over claims already started with another company, provided the client has previously terminated their contract with the previous firm to avoid being liable for fees to two companies. The company also addresses on its website the comparison with the old PPI scheme, noting that, as then, a compensation scheme is used to structure the compensation.

Contact and registered office

PCP247 serves its clients from its office at Trinity House, 114 Northenden Road, Sale, M33 3HD, in the United Kingdom. The company offers telephone and email support, and has a form on its website to check the eligibility of a claim.

Trinity House, 114 Northenden Road, Sale, M33 3HD · Phone: 0161 399 4631 · Email: info@pcp247.co.uk