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Unregulated Lease Purchase Agreement with Lombard

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Hi, I need some advice. My husband has a Lease Purchase Agreement with Lombard. The Trailer (the subject of the Agreement) was sold which left a shortfall under the agreement. For the past 7 months the matter has been going through the complaints procedure and due to the conduct of Lombard I have informed them I am going to take it to the Financial Ombudsman. Lombard have stated " As your agreement in non-regulated". What does this mean - just that the amount borrowed was over £25,000 and therefore is not covered by the Consumer Credit Act or does it have different implications.




Missy Allen

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Hi Missy,


Moving this to General Debt Issues forum to see if help comes.



We could do with some help from you

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  • 2 months later...


I am in the same position with Lombard. Have an unregulated debt over 25k.Have followed complaints procedure but still no joy even from the managing director. Tried the FOS but this was prior to 2007 so they cant do anything, they said try the Financial Services Assoc. That is my next step. They have an Unfair Contract team to consult with. Lombard have treated me really badly. My friend that I took the agreement on with has now gone bankrupt leaving me to deal with the lot...Any help would be appreceiated


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