Santander no pagará por el 'caso de los coches' hasta 2027

Santander UK is expected to begin paying out compensation for its car financing scandal in the second half of 2026, but it may be delayed until 2027, according to recent reports. The bank has set aside 739 million euros to cover the issue, which involves around 40 firms, including Santander UK, that financed vehicle purchases with undisclosed terms between 2007 and 2024.

The dispute centers around clauses attached to the loans, tying interest rates to commissions paid by dealerships. A tribunal hearing to address complaints from consumers and financiers has been scheduled for either December 14 or February 16-26, 2027, pending the parties' agreement. The Financial Conduct Authority (FCA), an independent body overseen by the Bank of England, proposed a compensation scheme valued at 9.1 billion pounds (10.6 billion euros), but its implementation has been temporarily suspended.

Santander UK has provisioned 633 million pounds (739 million euros) for the scandal, which is higher than Lloyds Banking Group (1.95 billion pounds) and FirstRand Bank (750 million pounds).