Invoices & Fees
We pass successful offers to our Gamma team who deal with the offer being made and progress your case accordingly.
Most lenders will directly reimburse your account or send a cheque if you are no longer with them. Gladstone Brookes will then invoice you our fees of 25% + VAT of the total redress offered by your lender, including any reduction of any outstanding agreement.
Sometimes, your lender will send us your payment as your representative. In this event, we will automatically deduct the requisite 25% + VAT of the total redress offered by your lender, including any reduction of any outstanding agreement, before sending the remainder on to you.
How long will I need to wait for my money?
The Gamma team will arrange for monies owed to you to be paid as quickly as possible. Barclays, Lloyds and HBOS will usually pay money directly into your account within 28 days of the offer letter being issued. Most other lenders require clients to sign a form accepting the offer – they usually pay out within 28 days of receiving the signed acceptance.
I have received my money – how do Gladstone Brookes get paid?
We agree fees of 25% + VAT of the total redress offered by your lender, including any reduction of any outstanding agreement, should your claim be successful.
If your lender pays the redress directly to us, we will forward this onto you, minus our fee; this deduction will be detailed on an invoice. There would be nothing further to pay in this instance.
If the lender has paid you directly, please let us know right away. We will check the details of the offer and then issue you an invoice – please make sure you have paid us before you spend your redress.
This is a simple process, why should I pay you?
By agreeing to our terms and conditions at the start of the process you agreed to pay our fees in the event of a successful claim. If we have applied and/or appealed for the reimbursement of your PPI payments on your behalf and were successful, then we are owed the fees outlined in these terms and conditions.
How do I pay my fees?
Please visit our payment page for information on how to pay your fees.
Why do you need to check the offer?
We need to confirm what your lender’s offer is covering; particularly if they are investigating more than one account for you. In some cases there can also be discrepancies with offers made, so we may need to challenge the lender further in cases like this.
I don’t understand the invoice. What should I do?
We try to keep our invoice/billing process as simple as possible. However, if you don’t understand our charges having read this Information Suite and the literature we have sent to you previously please don’t hesitate to contact us on 01925 354484.
I have spent the money and cannot afford your fees – what should I do?
This would be a breach of your contract with us and could lead to us enforcing the contract via the Courts. However, we would urge you to speak to us first so we can discuss options and reach a payment solution without invoking legal action.
How is the refund calculated?
We aim to recover all of the premiums you have paid, plus interest. We also aim to recover a further 8% but cannot guarantee this. PPI premiums on an ongoing loan will be cancelled and the value of those already paid credited to your loan account to reduce the outstanding balance. If you are claiming PPI from a credit card the bank may offset the refund against your outstanding balance.
My loan is ongoing but I’ve fallen into arrears – what happens now?
If you have fallen into arrears with your payments your lender may off-set any payments due to you against the amount you owe them. If the amount you owe is more than the redress they are prepared to pay you may end up with no cash payment at all, but your fees to Gladstone Brookes will still be payable for the total redress offered to you by your lender.
Why am I paying VAT?
Gladstone Brookes does not benefit from charging VAT. It is a government tax and because Gladstone Brookes is a VAT registered company (VAT number 909 1828 09) we are required to pass on the VAT we collect to the government.
What about my other cases that are not yet settled?
We handle each case individually and will continue negotiating with your lenders for any additional claims you are making with us.