FAQs

Jan 7 at 12:12am by admin

The Most Frequently Asked Questions

If I no longer have a financial contract in place (ie. mortgage, secured loan or car finance) can I still perform a product review for a potential claim?
Yes. Normally we are able to assess contracts as far back as the late 1980s

Which kind of financial contracts are eligible to be considered for a potential claim?
We can provide a claim assessment for mortgage, secured loan and car finance

My product has been assessed by the underwriters and has come back with a ‘Yes’ status. Does this mean I can file a claim?
Yes. You can proceed with a claim as this status suggests that your claim will exceed the minimum requirements of £5000

How long does it take for a claim to complete?
On average the whole process from signing to completion takes in the region of 3 to 9 months.

Am I charged a fee before the claim is filed?
Yes. There is a fee of £495 payable for each product assessment at the point of signing the Client Agreement if you wish to proceed with a claim. This fee covers the assessment costs for reviewing the case

Is the £495 fee refundable? If so, under what circumstances?
Yes. If the claim does not result in a payment then the fee is fully refundable. The only time the fee does not qualify for a refund is in the case of a fraudulent claim or if the claim process is withdrawn before being allowed to complete its course of action.

The only fee which is not refundable is the £10 fee which is made payable to the lender to release the relevant documentation concerning the submitted application

Why can’t I just pay the fee from my settlement instead?
Unfortunately this is not possible as the fee covers the work involved in the case assessment and review process. It is not for the claim part of the procedure

At the end of the process, do you take a percentage of my settlement?
No. You receive 100% of the claim settlement which is payable to you (This is subject to any written agreements you may have between yourself and a nominated panel solicitor)