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ENDOWMENT MORTGAGE CLAIMS

We deal with endowment mortgage claims on a no win no fee basis and if the complaint is unsuccessful we will not make any charge to you. Our claims are completely risk free and you will not have to pay for any expenses during the course of the claim. If you would like free advice on the telephone, without obligation, just complete the contact form.

The No Win No Fee scheme is more correctly known as the ‘Conditional Fee’ scheme. The basis of the scheme is that we will only be entitled to be paid our fee if we win the claim and the client receives compensation. If the case is lost you will not receive any bill for work carried out on your behalf and we will not be able to claim any fees for our time which we will write off. Our claims are completely risk free and we do not ask you to fund or finance the claim in any respect as it continues. If after talking to us you decide not to proceed further you will not be charged for any initial advice. Our charges are in the form of a success fee and we will only expect payment if you succeed in your complaint and are offered compensation.

If the complaint to the insurance company is upheld at the initial stage then our charges are 20% of the compensation offered and that figure does include VAT. If the complaint is not upheld then you pay nothing.

If following a refusal by the insurance company the case has to be referred for further consideration to the Financial Ombudsman Service (FOS) then our charges are 25% of the compensation ordered and that figure does include VAT. If the application fails then you pay nothing.

The Financial Services Authority (FSA)
is an independent non-governmental body, given statutory powers by the Financial Services and Markets Act 2000 that regulates the financial services industry in the UK.

The main aims of the FSA are as follows

• maintaining confidence in the UK financial system
• promoting public understanding of the financial system
• securing the right degree of protection for consumers
• helping to reduce financial crime

The FSA achieves good regulation by:

• ensuring that resources are used in the most economic and efficient way considering the responsibilities of those who manage the affairs of authorised persons
• being proportionate in imposing burdens or restrictions on the industry facilitating innovation
• taking into account the international character of financial services and the UK’s competitive position
• not impeding or distorting competition unnecessarily

The Financial Ombudsman Service (FOS)
provides consumers with a free, independent service for resolving endowment mortgage claims with financial firms. The service which is not a government body receives no government funding and is free to consumers, is paid for by a levy on financial firms which varies from £100 a year for a small firm of financial advisers to £300,000 for a high street bank or large insurance company. The Financial Ombudsman Service (FOS) operates under criteria which guarantees independence from those whom they have the power to investigate; effectiveness; fairness and public accountability.

The Financial Services Compensation Scheme (FSCS)
which became operational on 1 December 2001 covers business conducted by firms authorised by the Financial Services Authority (FSA) and, in certain circumstances, will pay compensation for a mis-sold policy if the company concerned is unable, or likely to be unable to pay, usually as a result of insolvency. The fund is financed by a compulsory levy on certain industry stakeholders and is the UK’s statutory fund of last resort for customers of authorised financial services firms.

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