Discretionary Commission Arrangements - Complaints and Refunds

You do not need to use a Claims Management Company. You can make the claim directly to the lender and if they reject your complaint you can take it to the Financial Ombudsman Service free of charge, but you must do this within 6 months of the lenders Final Decision Letter.

Specialist Motor Finance

Specialist Motor Finance (SMF) is a company that specializes in providing finance solutions for automobile purchases. The company was founded in 2008 and has grown significantly over the years to become a notable player in the industry. In this article, we will explore the financials of SMF, its ownership, and complaints.


SMF has had a consistent track record of growth over the years. The company's latest financial reports showed that its revenue had grown by 14% to £97.3 million in 2019, up from £85.1 million in 2018. This impressive growth was made possible by an increase in the number of vehicles financed by SMF. In 2019, the company financed over 11,000 vehicles compared to 9,500 in 2018.

The company's profit also increased significantly in 2019. Its profit before tax grew by 27% to £33.2 million, up from £26.1 million in 2018. This rise in profit was driven by an increase in the company's loan book and an improvement in its net interest margin.

SMF's loan book, which represents the total amount of loans provided by the company, grew by 19% to £445.2 million in 2019, up from £372.9 million in 2018. The company's net interest margin, which measures the difference between the interest paid on deposits and the interest charged on loans, improved from 8.8% in 2018 to 9.2% in 2019.


SMF is a subsidiary of the Paragon Banking Group, a specialist bank that offers a range of financial products and services. Paragon Banking Group acquired SMF in 2018 as part of its strategy to expand into the specialist motor finance market.


Like any company, SMF has had its fair share of complaints. However, the number of complaints received by the company has been relatively low compared to its peers. According to the Financial Ombudsman Service (FOS) data, SMF received 197 complaints in the 2019/2020 financial year. This represented a decrease of 19% compared to the previous year when the company received 243 complaints.

The majority of complaints received by SMF were centered around affordability checks and the repossessions of vehicles. However, the company has been proactive in addressing these issues. It has introduced measures to improve its affordability checks, and it has also set up systems to reduce the number of repossessions.


SMF has established itself as a major player in the specialist motor finance market. The company's financials show that it has been growing consistently over the years, and its ownership by Paragon Banking Group further strengthens its position. While SMF has had some complaints, it has been proactive in addressing them, which bodes well for its future growth. Overall, SMF is a company that is well-positioned to continue its growth trajectory and provide valuable finance solutions for automobile purchases.