Santander puts aside £295m for car loan mis-selling
by Kalyeena Makortoff and Mark Sweney from on (#6SBRV)
Lower third-quarter profits reported alongside first estimate of financial fallout from loan mis-selling scandal
Santander UK has put aside 295m to cover potential payouts to car loan customers as the bank issued its first estimate of the financial fallout from the growing car loan mis-selling scandal.
The figures were released alongside the bank's third-quarter results, which were delayed last month after a court of appeal ruling said it was unlawful for two lenders to have paid a secret" commission to car dealers without borrowers' knowledge.
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