Waterloo Solutions Limited (‘hereafter referred to as the Firm’) will advise, investigate and represent the client to lodge a complaint, on the client’s behalf, against relevant third parties (‘hereafter referred to as the provision of claims management services’).
In the course of providing claims management services the Firm will take steps to establish that the client and the respondent(s) have/had a relationship, obtain relevant information to investigate the merits of the claim(s) and, where merit is established, submit a claim to the respondent(s) on behalf of the client. The Firm will keep the client updated in writing when there are material updates and no less than 6 monthly.
The client must provide the Firm with all documentation likely to be needed to pursue the claim(s), complete the necessary paperwork required and promptly communicate all relevant information to the Firm throughout the claims process.
We will communicate with the client via telephone, post, email & SMS messages to keep you updated with the progress of your claim(s) & we shall make available your log-in details to the Client Hub where you can check the status of your claim(s) at any time online.
Our Service Fees
Under this agreement the Firm charges 20% plus VAT of the gross amount of redress/compensation recovered on your behalf.
Please find below an illustration of what our service fee would be if you obtained redress/compensation to the value of £1,000, £3,000 and £10,000.
- £1000 recovered gross on your behalf would equate to a fee of £200 plus VAT (£240 in total)
- £3000 recovered gross on your behalf would equate to a fee of £600 plus VAT (£720 in total)
- £10,000 recovered gross on your behalf would equate to a fee of £2,000 plus VAT (£2,400 in total)
If redress is used by the respondent to settle arrears, the client is still liable to pay the Firms fee from their own funds.
Your Right to Cancel
The client can cancel this agreement at any time within 14 days of a claim being submitted without giving any reason and without incurring any liability unless the Firm receives an offer of compensation from the Lender within this period; in which case the Firm’s fee will be due. The client can communicate their cancellation by telephone, in writing, in person or can use the cancellation form accompanying the Firm’s terms of business.
Your Right to Terminate
The client can terminate this agreement at any time after the 14 days cancellation period. The Firm will not charge the client a termination fee if the client terminates the agreement after the 14-day cancellation period, however, if the Firm sends a Letter of Complaint and the client goes on to receive an offer from the Lender the Firm’s fee will be due.
Available Redress Schemes
The client does not need to use the Firm’s services to lodge a complaint against the respondent(s) and if the client’s complaint is not successful, the client can refer it to the Claims Management Ombudsman themselves, for free.