- Call or signup online
- Receive your claim pack
- Complete and return to us
- We process your case
- Hand Your Car Back
- And see what refund or compensation we can secure for you
I was three years into my
finance agreement. HYCB
got me out of it.
The biggest debt in my life wasn’t my credit card it was my car loan, I am now debt free thanks to HYCB.
Industry Comments
Soaring Car Insurance Prices Are To Be Examined
09 September 2011
With an average 40 per cent hike in car insurance premiums over the 12 months to May, the Office for Fair Trading is to examine whether any competition or consumer issues need to be addressed.
Autoglass Axes Staff ‘As Drivers More Careful’
29 June 2011
Repair firm Autoglass is to axe hundreds of staff as soaring fuel costs led to cautious driving and hit demand for vehicle repair.
Ulster motor insurance and fuel dearest in UK
21 June 2011
Motorists in Northern Ireland continue to face the highest insurance and fuel costs anywhere in the UK, according to a major consumer watchdog.
Ring-fence will make banking ‘more expensive’
16 June 2011
The Chancellor George Osborne is expected to announce several radical changes to the banking industry in a speech to the City on Wednesday evening.
Car insurance premiums for young drivers soar
16 June 2011
The average cost of insuring a car for young drivers has soared to a record high of £3,688, new research shows.
Every vehicle must have a valid insurance policy
16 June 2011
From 20 June 2011 every vehicle must have a valid insurance policy even if it is not being used, unless a Statutory Off Road Notice has been obtained.
MP asks for action to cut ‘crushing’ fuel prices
16 June 2011
The Government is being urged to form a commission to look at cutting soaring fuel prices that are "crushing" rural motorists.
Robert Halfon, a Conservative MP, wants an independent panel to look at "radical ideas" to raise money to counter the spiralling cost of oil.
Car industry declares victory in war on thieves
16 June 2011
The motor industry says it is winning the war against car thieves, thanks to advances in security features.
Cost of running a car jumps 20% in a year
15 June 2011
Drivers are paying at least 20% more to run their cars than they were a year ago, a survey reveals.
Rises in insurance premiums and petrol prices account for the bulk of the increase.
David Cameron faces road rage on soaring motoring costs
05 June 2011
For most of us, a car is not the luxury it was half a century ago. It is essential for parents of young children, the elderly and people who live in the country. And millions more would find life a struggle in today's world without their cars.
Drivers Cutting Back As Motoring Costs Rise
04 June 2011
Car owners are finding ways to cut back on spending as the costs of motoring have risen dramatically over the last six months.
Parking tickets soar to record levels
03 June 2011
The number of parking tickets issued to motorists has reached record levels triggering accusations from motoring groups that councils are harvesting fines to plug gaping holes in their finances.
Road congestion falls as motorists leave cars at home amid soaring fuel prices
02 June 2011
The latest statistics released by the Highways Agency showed that 85.3 per cent of car journeys on major trunk roads were completed “on time” in April, four per cent more than the same time last year. At the same time ONS, the Government statistics agency, released its own figures, showing that 71 per cent of people still commuted to work by car.
The Highways Agency employs number plate recognition cameras and road sensors to calculate journey times. It uses this data to calculate how long a journey should take. While some delays can be attributed to weather and accidents, the key element in journey time is volume of traffic.
UK banks lose Payment Protection Insurance challenge
01 June 2011
[Source: http://www.bbc.co.uk/news/business-13128692 20 April 2011]
UK banks have lost a judicial review that could have a major impact on whether more compensation has to be paid on mis-sold loan insurance. Banks will now have to look back at past sales of Payment Protection Insurance (PPI), even if consumers have not complained.
Some estimates have said this could lead to a £4.5bn bill for the banks.
The British Bankers' Association (BBA), which said it was "disappointed" by the ruling, has 21 days to ask to appeal.
The BBA also said banks would continue to put some fresh cases on hold until it had decided whether to continue its challenge in the courts.
Judgement 'clear-cut'
Thousands of people have already received compensation because they were mis-sold PPI policies, which are supposed to repay people's loans if their income drops because they fall ill or lose their jobs.
The banks challenged the Financial Services Authority (FSA) over guidelines it published last year which said banks should contact all past PPI customers and invite them to complain if they thought they had been mis-sold PPI.
Natalie Ceeney, the chief financial ombudsman, said: "This judgment is very clear-cut - and it confirms that the ombudsman's approach to PPI complaints is right.
"People have been waiting a long time while the banks' legal action has been ongoing. I would now like to see financial businesses showing real commitment to sorting out their customers' complaints efficiently and promptly."
Pay-outs
Some PPI sales proved appropriate but the banking industry has been accused of mis-selling them on a huge scale, generating many millions of pounds in profits by selling insurance that people were unaware they were paying for or did not need, or on which they could not claim.
Continue reading the main story
"It is the implications of today's ruling for the banks that are serious”
Some of these people have been compensated, sometimes after their case was initially rejected by the banks.
During the judicial review hearings in January, the court was told that implementation of the new guidelines could cost the banks and credit card companies as much as £4.5bn, paid to millions of people.
Customers would have to be repaid their PPI premiums, plus interest, if the bank or other firm concluded that the customer would not have bought the policy in the first place if they had been fully aware of the policy's details.
A similar reimbursement could be due to those customers that paid for a policy in full up-front.
There have been more than 200,000 cases referred to the Financial Ombudsman Service about PPI in recent years, including 100,000 in the past financial year and now 5,000 each week. About three in four complaints have been upheld in the past.
The Financial Ombudsman Service said there should no longer be any stalling over fresh cases.
Complainants included people such as Gary Thomas, from London.
"I was sold a PPI policy - it amounts to 25% of the cost of the loan covering me for a five year period. In total it cost me £20,000 over a five-year period on a £60,000 loan," he said.
"I feel I was misled by this company and asked the ombudsman to look into it. It is nothing short of theft. They should be stopped from selling the insurance."
Banks 'disappointed'
The UK's banks, represented by the BBA, challenged the FSA's new requirements.
The High Court judgement will affect millions of bank customers
They argued that the FSA was effectively applying new rules to previous sales - even when those sales were regulated by other FSA rules.
"It was due to the widespread concerns that the FSA and the Financial Ombudsman Service had not properly applied the law in this area - and only having exhausted all other avenues for resolving the underlying dispute that a judicial review was sought," the BBA said.
"We are disappointed with today's judgment and now need to consider the details of it very carefully as well as next steps, including whether it would be appropriate to apply for permission to appeal."
But the FSA, which said there had been 1.5 million complaints about PPI since 2005, said: "Our primary aim has always been to get proper redress, once and for all, for those with genuine complaints.
"We believe this decision signals the end of years of poor complaint handling and will trigger a dramatic improvement in the way customers are treated when complaining."
Ray Cox QC, a barrister who specialises in banking law, said the court ruling was a "massive endorsement" of the FSA's powers.
"The court has confirmed that the FSA has the power to require firms to pay compensation for breaches of its high-level principles, not just specific rules," he said.
Motorists Facing £1.6bn Repair Bill
18 May 2011
A recent survey has revealed that one in three British motorists will share an unwanted repair bill of £1.6bn this year, with some facing bills as high as £7,239.
New data from Warranty Direct shows that a third of three-to-ten year old cars will suffer some degree of mechanical failure over the next 12 months, with the average repair costing around £335.
Are we wasting £230 each year on Car Insurance
09 October 2010
“Our research shows people can save £233 on average a year by scouring the market – that’s nearly £100 more compared with last year. Providers count on apathy to reap the profits and do not reward loyalty with a cheaper premium. In this current climate, it is shocking to see the sheer scale of drivers who won’t spend a few minutes to see if they can save money when renewing their car insurance.” Steve Sweeney - Head of Car Insurance
He added that along with shopping around online to find a better car insurance deal and cheap car finance, drivers had a number of other easy ways to reduce their policy premium.
Altering the amount of voluntary excess paid and fitting an alarm and immobiliser system can help to cut costs, as can parking in a garage or well-lit driveway instead of on the road. Removing any unnecessary optional extras, such as breakdown coverage or courtesy car provision, also pushes down prices, while new drivers can often get large discounts by getting a Pass Plus certificate.
BBC Newsbeat Warns Of Second Hand Cars
01 March 2010
One in five people buying a used car from a dealer suffers a problem with their new motor, according to a consumer report.
Nearly 70% of the problems come up during the first month, according to the Office of Fair Trading (OFT) study.
UK motorists are now paying an average of 19% more to keep their cars on the road than in 2007
20 November 2009
Find out why we're paying more to keep our cars on the road. UK motorists are now paying an average of 19% more to keep their cars on the road than in 2007, according to an RAC cost index out today.
AA Warns of Rising Car Costs
17 September 2009
The price of living in the UK appears to be rising; from food and normal household costs, to our energy bills, which have been rising astronomically since the beginning of the year; and now it would appear that the price of running a car is to be added to our list of rising costs.
FSA fines five motor dealers for PPI failings
21 August 2009
The Financial Services Authority (FSA) has today imposed fines totalling more than £175,000 on five motor retailers for serious breaches relating to the sale of Payment Protection Insurance (PPI), which exposed a total of 2,175 customers to the risk of being sold unsuitable PPI policies.
Avoid These Car Insurance Sales Tricks!
24 July 2009
Neil Faulkner writes about his experiences as an insurance salesman and reveals the tricks of the trade.