How much will you charge me for managing a No-Win No-Fee claim?
We’ve built this handy claim calculator which shows you the fees we charge for managing a financial services claim. Remember you pay nothing if your claim is unsuccessful.
Just enter the total estimated claim value and the calculator will immediately tell you how much we would take as a deduction if you were awarded that amount:
Fee Calculator
Remember, we only take a fee if your claim is upheld.
Does No-Win No-Fee mean we work for free?
Not exactly. It means you only pay if your claim succeeds. On average, two out of three claims we investigate result in compensation or financial redress. The remainder may already have been claimed, be time-barred, or, despite fault being established, show no financial loss.
Our investigations take around one to three months, but depending on the case, payment of an award can take from two months to several years. That’s why most clients choose no-win no-fee (also called contingent fee or damages-based agreements): it ensures ours and the clients’ interests are aligned in securing the maximum award as quickly as possible.
If your claim doesn’t result in compensation, you:
- pay nothing,
- gain certainty about whether you had a claim,
- spend little of your own time, and
- walk away with peace of mind.
How do we calculate our fees
We work to the guidelines set out by the Solicitors Regulatory Authority (SRA), which allows us to charge between 15% and 30% (plus VAT) and caps our fees at a maximum of £10,000.
Examples:
Amount Awarded (£) | Fee % Bracket (Pre-VAT) | Our Fee (£) | VAT (£) | Effective Rate incl. VAT (%) |
£1,200 | 30% | £360 | £72 | 36.0% |
£4,000 | 28% | £1,120 | £224 | 33.6% |
£20,000 | 25% (capped at £5,000) | £5,000 | £1,000 | 30.0% |
£30,000 | 20% | £6,000 | £1,200 | 24.0% |
£100,000 | 15% (capped at £10,000) | £10,000 | £2,000 | 12.0% |
Why do I hear horror stories of fees being upwards of 30%?
Stories like the Post-Office scandal (Bates v Post Office) where almost 80% (79.65%) of the £46 million settlement went to the litigators, often get the attention. There are several reasons why our fee structure is significantly lower:
1. Fees are capped.
Before the SRA introduced fee caps in July 2024, it was not uncommon for companies to charge 40% plus VAT (48% total cost to client). The fee caps ensure companies now work to similar and more reasonable charging structures.
2. Claims Management Services are not the same as litigation.
Using a No-Win No-Fee claims management or legal firm for your Financial Services claim, means you are appointing a third-party to manage a claim that you could technically bring yourself. Most people don’t, usually due to a lack of confidence, time or general inclination to deal with the administration process, or because they ‘re unsure their claim will succeed.
3. Litigation is rare and costs more.
Sometimes claims can’t be resolved via the Financial Services Compensation Scheme (FSCS), Financial Ombudsman Service (FOS) or another independent assessor.
Perhaps it is a new type of claim they are yet to rule on, or it is not something that is covered by regulation. Cases that require civil litigation through the courts, are by their very nature more complex and carry greater financial risk for the firm representing you.
At Claim My Loss, we see civil litigation as a last resort. If it is the only option, we will always make you aware of all potential costs and would only proceed with your signed agreement.
If my case needs to go to court, will I face big legal costs?
If your claim value exceeds £10,000, the winning party can request that the other side pay their legal costs.
However, this works both ways, and to protect against significant legal bills, we would recommend putting additional safeguards in place such as After the Event (ATE) Insurance and expert opinions. These add to the overall costs but are essential to keep personal financial risk to a minimum.
At Claim My Loss, we always see court action as a last resort. This is why we work to deliver positive client outcomes on our standard terms, without the need for litigation.
You can read our full terms and conditions here:
To read more about how claims and civil litigation work you can read here:
How much will I receive in compensation?
Whilst we specialise specifically in financial services claims we deal with a variety of different claim types and therefore the amounts of compensation awarded vary greatly. However, the principles upon which compensation awarded are to get you back to the position you would have been in had the mis-selling or professional negligence have not taken place.
There are also some limitations on the amount of compensation which is covered by the Financial Services Compensation Scheme and by Professional Indemnity insurers which again vary dependent on claim type.
As a rough guide, here are some of the claims we handle on a No Win No Fee basis and the average claim values awarded:
– Mis-Sold Pension Claims – Average Claim Value: *£62,378
– Investment Claims – Average Claim Value: *£31,679
– Financial Adviser Claims – Average Claim Value: *£14,278
– Business Energy Claims – Average Claim Value: *£12,342 (estimated)
– Tax Compensation Claims – Average Claim Value: *£17,369
– Car Finance Claims (Personal Contract Purchase) – *Average Claim Value: £1,100 (estimated)
*Figures accurate January 2025.
