Complaints

Make a complaint

If you have a complaint about a service provided by Lendable, please use the contact details below. Your complaint will be dealt with in accordance with our complaints procedure.

Complaints Procedure

We are committed to ensuring that you are satisfied with the products and services we provide and aim to respond to enquiries in a timely and professional manner.

In the event that you wish to make a complaint, our commitment is to resolve the matter as soon as possible.

You can contact us at complaint@lendable.co.uk, or by calling our main telephone line 020 3322 1948 anytime from 9.00am - 6.00pm, Monday - Friday.

If you just want our help and don’t want to complain, please get in touch at contact@lendable.co.uk.

If you wish to refer your complaint directly to the Financial Ombudsman Service before we have had an opportunity to consider it, we will ask them to put the matter on hold to allow us time to review the complaint first.

If we are unable to resolve your complaint immediately, we will:

• Fully investigate your complaint and, where possible, issue a written resolution within three business days (running from the end of the next business day following receipt of your complaint). This will include an explanation of how we have resolved the complaint and your right to refer the matter to the Financial Ombudsman Service.
• If we are unable to resolve your complaint by the end of the third business day, we will continue our investigations as quickly as possible and provide you with a formal acknowledgement of your complaint within five working days.
• Issue a final written response within eight weeks of receipt of the complaint.

The final response will either:

• accept the complaint and, where appropriate, offers redress or remedial action; or
• offer redress or remedial action without accepting the complaint; or
• reject the complaint and give reasons for doing so.

Financial Ombudsman Service

Lendable falls within the remit of the Financial Ombudsman Service and in the unlikely event that we are unable to resolve your complaint to your full satisfaction or within eight weeks of receipt, you can refer the matter to the Financial Ombudsman Service. The Financial Ombudsman Service is a free and independent service that resolves disputes between customers and financial services institutions. You'll need to contact them within six months of our final response letter. You can contact the Financial Ombudsman Service using the details below.

Address: Financial Ombudsman Service, Exchange Tower, London, E14 9SR

Telephone: 0800 023 4567 or 0300 123 9123

Online contact form: https://www.financial-ombudsman.org.uk/make-complaint

E-mail: complaint.info@financial-ombudsman.org.uk

Further information about the Financial Ombudsman Service and how you can contact them is available at https://www.financial-ombudsman.org.uk/

Where a complaint is referred to the Financial Ombudsman Service outside of their specified time limits, we may object to the Financial Ombudsman Service investigating the complaint. However, each request will be considered on the individual circumstances.

Information for Customers relating to Commission Complaints

In January 2024, the Financial Conduct Authority (FCA) announced that they were undertaking a review of the motor finance market as a result of complaints and claims in relation to discretionary commission arrangements (also known as DCA), which linked the amount the broker or dealer was paid in commission to the amount the customer would pay. These arrangements or commission models were banned by the FCA in January 2021. As part of the review the FCA announced that they would 'pause' the need for firms to respond to complaints in relation to DCA, until the outcome of the review had been reached.

Lendable has never operated a DCA

However, more recently there has been a landmark Court case which was heard in the Court of Appeal, which changed the legal requirements for all motor finance lenders to make customers aware and specifically consent to commission payments being made to Credit Brokers where these related to motor finance, regardless of whether they were a DCA or not. This case is currently subject to appeal in the Supreme Court.

Once the judgment of the Court case had been published, the FCA announced that they would extend the pause to cover any complaint which related to any motor finance commission paid until 4 December 2025, to include “non DCA commission complaints”. This will ensure that complaints are dealt with consistently and fairly by all lenders.

When you get a new or used car, you might use a finance agreement. The finance provider may then pay a commission to either the car dealer or a credit broker for introducing the finance to the finance provider.

If you have specifically indicated to us that you were taking out a loan to finance a vehicle and decide to bring a complaint against us about commission paid to a credit broker in relation to your loan, your complaint will be covered by the pause. We will acknowledge the complaint and will then be in touch once the FCA has concluded their industry wide review.

If you wish to raise a complaint in relation to commission, please follow the steps in the Complaints Procedure section above.

Complaints Data

At Lendable we want to make borrowing money customer-friendly and hassle-free. If something goes wrong, we try to fix things as soon as possible. We're always looking for ways to improve so your feedback is really important to us.

We report information on customer complaints to the Financial Conduct Authority (FCA) on a 6 monthly basis. All FCA regulated firms are required to publish high level information relating to complaints (subject to complaints volumes). The information is published twice a year for the period 1 January to 30 June and 1 July to 31 December.

Firm name: Lendable Ltd
Group (if applicable): N/A
Other firms included in this report (if any): N/A
Period covered in this report: 1 July to 31 December 2024
Brands / trading names covered: Lendable, Autolend, Zable

Number of complaints opened by volume of business