Pre Contractual Information

Please read this information carefully before agreeing to our Terms of Business. If you do not understand anything or have a question, please contact us before you sign them.

1. Important - You do not need to use a Claims Management Company to make a claim against your lender(s). If they reject your claim you can still take this to the Financial Ombudsman Service Free of Charge yourself.
2. We operate on a No Win – No Fee basis. If we do not win your case, you will not owe us anything unless (a). you cancel our services after 14 days when we will charge you for the time spent at an hourly rate of £120 per hour. (b ) Or after an offer of compensation has been made then 30% will be payable or (c). you reject an offer made by a lender which we assess is fair or (d). you do not allow us to refer the case to the Financial Ombudsman Service or (e). the Financial Ombudsman Service adjudicating on your case prescribes a compensation amount which you do not accept.
3. Our success fee will be charged dependant upon the amount of money offered as a redress. 

Illustration of Fees: 

From 1^st March 2022 fees charged by Redbridge Finance will be capped as per the table below. Further examples are shown below the table.

The figures quoted are only calculated on actual money sent to you. If you get a balance reduction, we do not charge any fees on the balance reduction element, just on money sent to you by the lender.

Band	Redress awarded for a claim (£)	The maximum percentage rate of charge	The maximum total charge (£)
1	£1-£1,499	30% plus vat	£420
2	£1,500 - £9,999	28% plus vat	£2,500
3	£10,000-£24,999	25% plus vat	£5,000
4	25,000-£49,999	20% plus vat	£7,500
5	£50,000 or above	15% plus vat	£10,000

These are some examples:

Band 1

Compensation amount £1,000. Our Fee £300 + VAT (£360 inc VAT). You get £640

Compensation amount £1,499. Our Fee £350 + VAT (£420 inc VAT). You get £1,079

Band 2

Compensation amount £5,000. Our Fee £1,400 + VAT (£1,680 inc VAT). You get £3,320 

Compensation amount £9,999. Our Fee £2,083.33 + VAT (£2,500 inc VAT). You get £7,499 

Band 3

Compensation amount £15,000. Our Fee £3,750 + VAT (£4,500 inc VAT). You get £10,500

Compensation amount £24,999. Our Fee £4,166.67 + VAT (£5,000 inc VAT). You get £19,999

Band 4

Compensation amount £30,000. Our Fee £6,000 + VAT (£7,200 inc VAT). You get £22,800

Compensation amount £49,999. Our Fee £6,250 + VAT (£7,500 inc VAT). You get £42,499

Band 5

Compensation amount £50,000. Our Fee £7,500 + VAT (£9,000 inc VAT). You get £41,000

We will not, under any circumstances, insist that you take legal action, or appear in court.

1. Below summarises our service and the processes we will follow.
   1. We will ask you some questions see if you have a valid claim.
   2. If we agree there is a case we will make a complaint to the lender(s).
   3. We will correspond with you and the lender(s) throughout the claim.
   4. We will help you fill in all of the necessary forms and documentation that are needed for the claim. We will NOT ‘coach’ you to provide inaccurate information.
   5. We will review the lender's findings and any compensation offered.
   6. If we disagree with the offer we may progress the case to the Financial Ombudsman Service.
   7. We will keep you fully updated as the claim progresses.
2. You will need to sign our contract before we can commence a claim for you.
3. In order to pursue the claim, we will need you to supply some documentation to us. This includes:
   1. The signed Terms of Business agreement.
   2. A Letter of Authority (a document that allows and instructs the lenders to communicate and work with us).
   3. Details of the lenders from who you have taken the loans.
   4. Any other documents that are in your possession that are relevant to the claim.

1. All of the answers to questions or statements given by you are your responsibility. You must ensure that these are factually correct and accurate.
2. Any documentation that we send you, or which is received from the lender, must be read carefully and retained by you. If there is anything you do not understand or are unclear about you must ask us.
3. If you want to complaint about our service, we have an internal complaints procedure. The full process can be found on our website or will be sent to you on request.
4. You have a legal right to cancel the contract, with charges for time spent at a rate of £120 per hour, up to the point an offer is made. 
5. You have the right to seek further advice or shop around before you sign the agreement. In some cases, there may be regulatory time limits on making a claim.
6. We are regulated by the Financial Conduct Authority (FCA) and our Firm Reference Number (FRN) is 836097.