Fees explained, in plain English
We believe you should always know what a service costs before you agree to it. The information below sets out how fees work on a PCP claim, when they apply, and the things to consider before instructing us or any other firm.
Headline rate
The panel solicitor's fee, in plain English
If your case is taken on by a panel law firm and successfully concluded, the solicitor will deduct a success fee from the redress recovered, under a Conditional Fee Agreement. Solicitor fees typically range between 18% and 36% (inclusive of VAT) and are subject to the regulatory caps shown opposite. There is nothing to pay if no redress is recovered.
How we are paid. Claim PCP Today does not charge you a fee. We receive a referral fee from our panel solicitors for successful introductions. You are under no obligation to use our panel solicitors and may pursue a claim yourself, free of charge, directly to your lender and then to the Financial Ombudsman Service.
Regulatory caps on solicitor fees
A summary of the maximum percentages and cash caps a solicitor may charge, by redress band.
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Band 1 - up to £1,49930%£420
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Band 2 - £1,500 to £9,99928%£2,500
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Band 3 - £10,000 to £24,99925%£5,000
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Band 4 - £25,000 to £49,99920%£7,500
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Band 5 - £50,000 and over15%£10,000
Worked example
How a typical claim might be settled
Every claim is different and there is no guarantee of any particular outcome. The illustration below shows how the regulator's fee bands might apply to a single, hypothetical award, on the assumption a panel solicitor charges at the maximum permitted percentage for that band.
- The panel solicitor's success fee is deducted from the redress before it is paid to you.
- VAT at the prevailing rate is included in every figure shown.
- If your claim is unsuccessful, there is nothing to pay.
Illustrative only
A successful claim of £4,000
- Redress recovered
- £4,000.00
- Applicable band
- Band 2 (up to 28%)
- Solicitor's success fee at the maximum (incl. VAT)
- £1,120.00
- You keep at least
- £2,880.00
Figures are rounded for clarity and assume the maximum permitted percentage for the band. The actual percentage charged depends on the panel solicitor who takes your case and will be confirmed in their Conditional Fee Agreement before any work begins.
What is and isn't charged
No charges from us, at any stage
Claim PCP Today does not charge you for any part of our service - not for the agreement search, not for case updates, and not for the time spent gathering information. The only charge that may apply is the panel solicitor's success fee, deducted from any redress recovered, within the regulatory caps shown in the table above.
What we do for you
- A free search to identify your vehicle finance agreements.
- A review of eligibility and, where appropriate, an introduction to a panel law firm to pursue your claim.
- Clear written information about the panel solicitor before you decide whether to instruct them.
- Our service is provided at no cost to you - we are paid a referral fee by the panel solicitor.
The legal work on your claim - preparing and submitting the complaint, liaising with the lender and the Financial Ombudsman Service - is carried out by the panel solicitor under a Conditional Fee Agreement made directly between you and them.
What you will never be asked to pay
- Upfront, registration or sign-up fees to Claim PCP Today.
- Administration or "case opening" charges from us.
- Hourly rates or per-letter fees from us while your case is open.
- Any fee from the panel solicitor if your claim is not successful.
Cancellation
You can change your mind
You have a statutory 14 day cooling off period from the day you instruct us, during which you can cancel for any reason and there is nothing to pay. After that, you remain free to withdraw your introduction at any time, free of charge. If a panel solicitor has taken on your case, separate cancellation terms in their Conditional Fee Agreement will apply.
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01
Within 14 days of instructing us
Cancel by phone, email or post. We will close your file and confirm in writing. There is nothing to pay.
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02
After 14 days, before a solicitor takes the case
You can withdraw the introduction at any time, free of charge. Claim PCP Today does not charge you a fee at any stage, so there is nothing for us to invoice.
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03
After a panel solicitor has taken on your case
From this point the panel solicitor's Conditional Fee Agreement governs cancellation. If you cancel after an offer of redress is made, the solicitor's success fee may still be due on the offer amount, under the terms of their CFA. The exact terms will be set out in writing before any work begins.
You do not have to use a claims firm
You are free to pursue a complaint about your PCP agreement yourself, at no cost. Many people choose to instruct us because we handle the paperwork, deadlines and correspondence on their behalf, but the choice is always yours.
- You can complain directly to your lender or finance provider for free.
- If you are unhappy with the outcome, you can refer it free of charge to the Financial Ombudsman Service.
- The FCA's Consumer Redress Scheme allows eligible claims to be considered without a claims firm.
Claim PCP Today is authorised and regulated by the Financial Conduct Authority. Our fees and the way we calculate them are set in line with the regulator's rules for claims management activity.
Every cost set out in writing, before any work begins
Claim PCP Today does not charge you a fee. If your case is taken on by a panel law firm, you will receive a written Conditional Fee Agreement from the solicitor confirming the band that applies, the exact percentage they will charge, and how their success fee would be calculated from any redress recovered.
- No fee charged by us, at any stage.
- The panel solicitor's fee is only payable if redress is recovered.
- Capped by the regulator's banding rules, with VAT included.
- We are paid a referral fee by the solicitor, not by you.
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