No Win No Fee

STAGE 2: Dispute Process – NO WIN NO FEE

Step 1: We keep you informed

We keep you informed constantly while we do the work in the background on your behalf. We will assign one of our friendly members of staff to you as a dedicated case handler. They will contact you, letting you know how far along your claim is and they will be available when you need them at the end of the phone.

Step 2: No Win No Fee: Appointment of Legal Representation & Registration of the Dispute with Your Lender.

If following the legal opinion you choose to instruct our Panel Solicitors you will have the option to enter in to a Conditional Fee Agreement (“CFA“) which is more commonly known as a ‘No Win, No Fee’ Agreement of 25%+VAT (30% Total).

What is a ‘No Win, No Fee’ Agreement?

A ‘No Win, No Fee’ agreement is an arrangement between you and your Solicitor which means that if your compensation claim is not successful, your Solicitor is not paid for the work they have done.

The CFA agreement does not create any further or additional liability to you, the CFA is only settled if a ‘win’ is achieved and fully settled by the lender as part of the settlement terms. If you do not receive any benefit, direct or indirect, it will not cost you any more money.

‘No Win, No Fee’ is as simple as it sounds. Entering into a CFA agreement does not put you as the claimant out of pocket or require you to pay anything further. If you have a claim, but can’t afford to pay for legal representation, then our solicitors can work for you on a “No Win, No Fee” basis.

Once we have received a signed copy of the CFA agreement by you, CYM will process it. In turn this will then be forwarded to our legal representatives who will represent your case against your mortgage lender along with similar cases alike.

Our Solicitors

The entire process from submission to resolution is expected to be a lengthy one, we advise that the realistic time frame for any decision(s) regarding a dispute may be as long as 12 to 18 months from first submission. Dependent upon a successful outcome, it is the job of the legal representatives to formulate documentation to conclude the matter.

When disputing a matter as such in hand, you as the client need to be fully aware that any dispute will only have any of the two outcomes; one which supports the mortgage lender and the other in support of the borrower.

With this being said, if your delegated solicitor still believes that you have a favorable case, the matter can be taken to tribunal or court action. If you choose to move forward with the dispute, no cost will be incurred to you as the client. However, you must be fully aware that the case may reach a Court of Appeal/European Court for adjudication, to which your legal representative will defend.

It is likely that a pre-ligation settlement can exist although nothing is confirmed until agreed and settled in writing. This means that your case could well be settled outside of court.

Below is an example of CFA and how is likely to be done upon the dispute being in favour of the client. It is also likely that a non-disclosure ‘gag’ order will be contained therein.

Example of a CFA (‘No Win,No Fee’) based on a £100,000 mortgage

Outstanding Mortgage Value

£100,000

CFA Fee if successful

£25,000 (25% success fee)

VAT on success fee

£5,000 (20% VAT)

Total Deduction

£30,000

Maximum Potential Benefit

£70,000 (after deduction of CFA fee)

Please be aware as a consumer following our advice, should you see it fit to appoint any other firm on your behalf, it is strongly recommended that you do so.

It is our panel solicitors considered opinion that the worst possible outcome is an easy to prove mis-selling compensation case exists and is available as a final fall-back position, so there is NOTHING to LOSE and EVERYTHING to GAIN!

Find out how Clear Your Mortgage can help you by calling us on 0330 043 9896, or complete the Call Me Back Form and we will call you.

* ‘No Win, No Fee’ service simply means that if your claim is not successful, there will be no cost to you. Fee payable if case is not pursued at client’s request, your solicitor will advise further.