4.4 • 754 Ratings
🗓️ 4 August 2025
⏱️ 51 minutes
🧾️ Download transcript
The Financial Conduct Authority says the ultimate cost of the compensation scheme redressing drivers for being mis-sold car finance could be anywhere between £9 billion and £18 billion. Will Bain asks what the impact could be for both drivers and the industry.
The future of one of England's historic football clubs hangs in the balance this morning after shareholders said Morecambe F.C. has "zero pounds in the bank" - we bring the latest and find out what the supporters' trust think.
Plus, after 50 years working in brewing and hospitality, the outgoing chair of Fuller's, Michael Turner, tells us how the industries have changed.
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0:00.0 | BBC Sounds, Music, Radio, Podcasts. |
0:05.3 | Wake Up to Money from BBC 5 Live. |
0:08.5 | Hello morning, welcome to Wake Up to Money. |
0:10.8 | 18 billion pounds. |
0:12.2 | That's the figure the UK financial watchdog says could be the ultimate cost for the compensation scheme for some drivers in the ongoing motor finance saga. |
0:21.2 | We'll find out what the impact could be for both them and the industry a little bit later on. |
0:25.6 | The future of one of England's most historic football clubs hangs in the balance this morning |
0:30.1 | after shareholders said Morcomfc had £0 in the bank. |
0:34.4 | We'll bring you the latest and we'll hear from fans as well. |
0:36.7 | And after 50 years working in the brewing and hospitality business, the outgoing chair of Bullers tells us how the industry has changed. |
0:44.5 | Wake up to Money with Will Bade. Yeah, morning. Welcome to Wake Up to Money on Monday the 4th of August. Just gone 5 o'clock in the morning. We're with you this morning. Great to have your company as we kick off another week. Yes, another twist in the car financing saga that |
0:59.8 | would bring you up to date with. Fliss was talking about this on Friday, wasn't she, Supreme Court |
1:03.6 | decision there. It came down, ruled kind of in the lender's favor on most cases, but there |
1:09.3 | was one outstanding case where they found |
1:11.8 | there had been unfair levels. So they didn't find that there was unlawful selling of these car loans, |
1:16.4 | but there was some unfair selling of these car loans. And as a result, over the weekend, |
1:21.1 | the Financial Conduct Authority, the regulator, has stepped in and suggested there will, in fact, |
1:26.2 | be some kind of compensation scheme. We'll |
1:28.8 | explain all of that in much more detail later on in the program and about when you might hear |
1:34.0 | about that if you think you are affected and the amount of money that the banks might be setting |
1:38.4 | aside as well and what it means in terms of them as well. And yeah, we'll be talking more |
1:42.1 | Comfrey C, as we were saying there. In the first half of the program, not alone, are they Sheffield Wednesday? Also seem to be in serious financial trouble as well. So we'll be talking once again about how are football clubs in an era where we've now got a football regulator in theory as well coming in, how they seem to get themselves in such a financial pickle still at the moment. So it's going to be plenty for our panel to get their teeth into this morning. And they are Emily McCorkel back with us. Emily, the owner of Low and Slow, a food truck, barbecue, sauce and cooking school business based in Derry, London, Derry, and Northern Ireland. Emily, great to have you back on the program. Thanks for being with us. Thanks, well, good morning. And you've had a very busy weekend because you've been, well, a week or so ago, sorry, at the open. Yeah. Yeah, yeah, yeah. Oh my gosh, it was great. It was kind of an amazing whirlwind that I'm still not sure I survived, but we did. It was great. It was amazing to be part of. It was just such a wonderful event. |
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