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 assess mortgage, secured loan, personal loan, motor finance and credit card contracts.

If my Product Review is initially assessed by underwriting as a ‘Yes’, does this mean that I am able to make a claim?
You can progress with a Product Review based on the information given. For mortgages, secured loans and motor finance reviews, the information you have provided suggests that any claim will exceed minimum claim requirements of £5000. There is no minimum claim for credit cards. Progression to a claim will be subject to a further assessment once we are in possession of the client file (all documentation relating to your account) from the lender.

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 The only time the fee does not qualify for a refund is in the case of a fraudulent claim or if the claim process is withdrawn before being allowed to complete its course of action.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 mortgage claim settlement?
No. You receive 100% of the mortgage claim settlement which is payable to you (This is subject to any written agreements you may have between yourself and a nominated panel solicitor)

What is the review fee for and what does it cover?
Discounted credit card review fees are available to existing clients of Cartel Client Review.

Existing clients progressing with a mortgage, secured loan, motor finance or credit card review are entitled to the discounted rate of £175 (per credit card product review).

New clients, who are not progressing with a mortgage, secured loan or motor finance review will be charged a review fee of £495 for the first credit card review (any further credit card reviews would be at the discounted price for existing clients)

This covers the review costs incurred by Cartel Client Review prior a solicitor taking on a claim. The review fee is payable at the time of signing the client agreement. Cartel Client Review will take no payment prior to assessing the relative chances of a successful claim.

Successful claim fees of £30% of the total of interest repaid, payments returned and balance cleared will apply. Please see Terms and Conditions for full details.