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NO-WIN NO-FEE AGREEMENT

For each car finance claim we represent, we offer to work under a type of No Win-No Fee Agreement called a non-contentious business agreement. The effect of this agreement is that if you abide by your responsibilities and do not terminate our engagement prematurely, that you only pay a fee if we are successful with your claim(s) (you win).

Our fees are restricted by the Solicitors Regulation Authority ("SRA") Claims Management Fee Rules 2024 and are set out in the table below. Depending on the compensation amount obtained for a claim, it will fall into a Band. The fee charged on monies recovered will be the lesser of the percentage fee or the maximum charge for that Band plus VAT.

However, if we are unsuccessful with your claims, then you pay no fee, the only exception to this is if you cancel our engagement before we have a final decision from your lenders or you do not abide by your responsibilities under the agreement, then we will charge a fee based on the time we have spent on your claim based on our hourly rate plus VAT.

Fee table
Band
Redress awarded for a claim
Percentage rate
Ex. VAT
Maximum Charge
Ex. VAT
1
£1-£1,499
30%
£420.00
2
£1,500-£9,999
28%
£2,500.00
3
£10,000-£24,999
25%
£5,000.00
4
£25,000-£49,999
20%
£7,500.00
5
£50,000 or more
15%
£10,000.00
This table sets out the fees excluding VAT. VAT will be payable at the prevailing rate at the time.

We have put some examples below to illustrate how we take our fees depending on the compensation obtained on a claim (these examples assume VAT remains at 20%):

Example 1

We undertake a claim, on your behalf, for one car finance agreement, and this results in compensation in the sum of £1,500. The Claim would fall in Band 2.

Compensation Amount (£)
£1,500.00
Fee Band
2
Fee (%)
28%
Fee excl. VAT (£)
£420.00
VAT
£84.00
Fee Incl. VAT (£)
£504.00
Balance you receive (£)
£996.00
Example 2

We undertake three separate car finance claims relating to three separate car finance agreements, which result in the compensation awards of £1,350 (Claim 1), £2,700 (Claim 2) and £10,000 (Claim 3). Claim 1 would be in Band 1 and charged at 30%. Claim 2 would fall into Band 2 and be charged at 28%. Claim 3 would fall into Band 3 and charged at 25%

Claim
1
2
3
Compensation Amount (£)
£1,350.00
£2,700.00
£10,000.00
Fee Band
1
2
3
Fee (%)
30%
28%
25%
Fee excl. VAT (£)
£405.00
£756.00
£2,500.00
VAT
£81.00
£151.20
£500.00
Fee Incl. VAT (£)
£486.00
£907.20
£3,000.00
Balance you receive (£)
£864.00
£1,792.80
£7,000.00

Agreement 1 would be in Band 1 and charged at 30%. Agreement 2 would fall into Band 2 and be charged at 28%. Agreement 3 would fall into Band 3 and charged at 25%

If you want any further information, our regulator, the Solicitors Regulation Authority ("SRA"), has put the following guide together here (https://www.sra.org.uk/consumers/choosing/no-win-no-fee/).