Invoices & Fees
Absolutely No Upfront Cost
Gladstone Brookes can help you to get back any money you may be owed whilst making the process as smooth as possible for you. Should you pursue a claim with us, we’ll handle your case every step of the way, all the while keeping you up to date with the progress of your claim. What’s more, we’ll do so with no upfront fees or costs.
For any successful PPI claim made through us, we will charge 20% + VAT (so 24%° of the total redress offered by your lender). If we are unsuccessful, you don’t pay us!
Our fees are subject to Regulatory Change and will be charged at the prevailing maximum rate, however, we will never charge you in excess of 20% + VAT°.
Our PPI Claim service has been successful on over 600,000 cases and responsible for recovering over £1 Billion of mis-sold PPI (obtained through our claims service, amount is prior to fees and taxes). In cases where Payment Protection Insurance (PPI) was attached to the financial agreement, we have a 91% successful reclaim rate for our clients (based on a 24 months’ worth of data from January 2016 to December 2017).
Our fees are subject to Regulatory Change and will be charged at the prevailing maximum rate.
For more information on how to start your claiming process with a Free PPI Check**, read more here.
What will I be claiming for?
For any PPI claims made through Gladstone Brookes, we aim to recover:
- 100% of any premiums that you have paid
- Any interest paid on those premiums
- Where possible a further 8% in statutory interest
How long will it take?
How long your claim takes will depend upon your individual case, however our average claim timeframe is between 8-16 weeks from the date the lender acknowledges the claim, to a decision being made.
How would I receive my PPI compensation?
This depends on your circumstances as the way your refund would be paid to you depends upon whether your loan is still active or not.
What if I’m still paying my loan?
If you are still paying your loan back, you would receive a lump sum, which should consist of any payments made to date on the policy. What’s more, the remaining loan payments will then be reduced accordingly, meaning your monthly repayments will be lower!
I’ve paid off my loan or credit card, can I still claim?
Yes you can! If you have paid off your loan, you would receive your PPI refund on any successful case in a lump sum, most likely in the form of a cheque from the lender.
Frequently Asked Questions
- 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 20% + VAT (so 24%° 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 320 904.
- I have spent the money and cannot afford your fees – what should I do?
This action would be a breach of your contract with us and we will discuss several options for you to settle with us, before we take further action. You should contact us to let us know what has happened, so that we can discuss the options with you and see what we can do to rectify this problem. The best way to avoid this situation is to keep the amount of money for our fees to one side.
- 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.
You can do the claim directly yourself to the lender for no charge. You can also approach the Financial Ombudsman Service and Financial Services Compensation Scheme for free if you wish for them to review your case, if you have approached your lender first, and it falls within their remit.
All of your data is controlled & processed in accordance with the General Data Protection Regulation & will be used to help us process your case.