Fees - Greg Vaughan


No win, no fee

I only work on a “no win, no fee” basis so the only time a fee is payable is when you are awarded compensation. I don’t have hidden charges or upfront administration fees and I don’t charge extra to argue your case with the Financial Ombudsman or the Financial Services Compensation Scheme, should that be necessary.

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If you decide to engage Greg Vaughan Financial Services, a success fee will be payable if you are awarded compensation. This is set out in the table below. There are no upfront charges and you will not be charged if your case is unsuccessful.

The fee you will be charged on successful completion of your case will be as follows:

Value of compensation awarded Percentage fee The fee will be capped at:
£1 to £24,999 25% plus VAT £5,000 plus VAT
£25,000 to £49,999 20% plus VAT £7,500 plus VAT
£50,000 or above 15% plus VAT £10,000 plus VAT

For example, if you receive compensation/redress of the amounts in the table below you will be invoiced as set out. Please note the positive impact of the fee cap for the higher amounts of compensation which lower the fee that would otherwise be payable.

Compensation Fee VAT Total Fee plus VAT Capped Final Fee plus VAT
£1,000 £250 £50 £300 £300
£3,000 £750 £150 £900 £900
£10,000 £2,500 £500 £3,000 £3,000
£23,000 £5,750 £1,150 £6,900 £5,000 fee plus VAT of £1,000 = £6,000
£45,000 £9,000 £1,800 £10,800 £7,500 fee plus VAT of £1,500 = £9,000
£75,000 £11,250 £2,250 £13,500 £10,000 fee plus VAT of £2,000 = £12,000

The examples above are not estimates of the amount of compensation that may be awarded. They are illustrative only. Every case is different and your own compensation, if awarded, may be more or less than illustrated above.

Competitor fees and my price match promise

I like to think my fee is very competitive. However, periodically, new competitors enter the market and offer lower fees to attract business. I do not believe they can be representing clients properly if the fees are so low as to be uneconomic – corners must be cut somewhere otherwise costs will quickly outstrip income.

If you choose a claims management firm or solicitor based on the lowest fee and your case is lost because they cannot afford to put the time and effort into it then you have gained nothing. However, I appreciate in these difficult times everyone needs to budget carefully so if you find the same service I offer elsewhere at a cheaper rate then do please let me know. If possible, I will match the fee for you as best I can.

Changing your mind

You will be able to change your mind about proceeding with your case at any time. If you do so within 14 days of signing the contract, you will not incur any charges.

Should you wish to cancel our agreement after 14 days, in order to cover costs incurred you may be charged a reasonable fee proportionate to the work carried out on your behalf up to the date of termination. This will be set out in writing and the fees are: (a) for the initial analysis of your case and presentation of reasons for complaint the charge is £50 plus VAT; (b) for each communication with you, whether by telephone, letter, email or SMS, sent by you or by G. Vaughan Financial Services Ltd to you, a charge of £20 plus VAT. If you terminate the contract after a reasonable offer of compensation has been made, then a charge equivalent to the fee that would be payable as outlined above will be payable.

Any cancellation fee will be set out in writing for you at the time you request to cancel. To cancel your contract, simply contact me or click here to download the cancellation form.

©2014 G. Vaughan Financial Services Ltd. Suite 127, Imperial Court, Exchange Street East, Liverpool, L2 3AB | Email: greg@greg-vaughan.co.uk | Tel: 0151 329 0775

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