What Percentage Do Solicitors Take for No Win No Fee Claims?
Everyone should have the ability to pursue justice.
That’s why the government introduced the concept of No Win No Fee claims – for anyone who couldn’t afford legal representation to be able to make a claim for an injury or injustice they suffered.
No Win No Fee means that accident victims can pursue a claim without having to worry about any financial impact.
Benefits of No Win No Fee
No Win No Fee is formally known as a conditional fee agreement. It means that you will only pay your solicitor’s work on your claim if you are successful and are awarded compensation. Their fee is conditional on you winning your case.
Prior to the concept of a No Win No Fee agreement, many people struggled to afford to pursue legal cases. If a person didn’t qualify for legal aid, they could find it difficult to pay their solicitor’s fees. This could have stopped people from getting justice when they were legally entitled to it.
No Win No Fee made justice more accessible. It is now possible for anyone who has been injured through no fault of their own to take legal action against those responsible. When there is no risk to their finances, personal injury victims may be more likely to stand up for their legal rights.
What percentage will my solicitor take from my compensation?
Your solicitor will charge you what is known as a success fee. This will typically be a certain percentage of your compensation. In most No Win No Fee cases, your solicitor will take 25%. The laws around road traffic accidents changed in May 2021. Claims for accidents that happened on or after 31 May 2021 will usually result in a payment of 35% of the final compensation plus VAT. Housing disrepair claims will also see payments of 35% plus VAT.
Your solicitor will usually not charge you any more than this, but may charge you less. They will explain their success fee before you agree to go ahead with your claim, so you will not face any unexpected costs further down the line.
There may be some costs you will have to pay your solicitor back for at the conclusion of your case. These will usually be covered by an insurance policy you may have to take out – known as after the event (ATE) insurance. Your solicitor will arrange this policy for you.
If you do take out an ATE policy, you won’t have to pay for it upfront and you only pay for it if your claim is successful.
What do I pay if my claim is unsuccessful?
A No Win No Fee agreement means that you won’t have to pay any fees if you don’t win your case. It means that you won’t face any financial risk – if you are not awarded compensation, you won’t pay anything.
You will also not have to pay the premium for your ATE insurance policy if you are not successful in your claim. Your solicitor will make sure you understand how this works before you proceed with the claim.
We know that you have enough to focus on after an accident or experience of medical negligence without having to worry about your finances. That’s why we offer you the chance to obtain the compensation that can help you get back to your best without any risk to your financial situation.
To find out more about our No Win No Fee claims, all you need to do is give us a call, request a call back or start your claim online. Our friendly and experienced claims advisors are there for you during this difficult time.
