General Questions

The Process in General Can a Product Review be carried out for a financial contract I no longer have? Product Reviews for mortgages, secured loans and motor finance can be assessed from as far back as the late 1980s subject to documentation being available from the lender. Product Reviews for credit cards may only be for a current product.

 

What types of financial contracts would be passed to underwriting to assess? We can assess mortgage, secured loan, motor finance and credit card contracts.

 

If my Product Review is initially assessed by underwriting as a ‘Yes’, does this mean that I am able to make a claim? You can progress with a Product Review based on the information given. For mortgages, secured loans and motor finance reviews, the information you have provided suggests that any claim will exceed minimum claim requirements of £5000. There is no minimum claim for credit cards. Progression to a claim will be subject to a further assessment once we are in possession of the client file (all documentation relating to your account) from the lender.

 

Are there alternatives to Cartel Client Review's service? There are ombudsmen schemes such as the Financial Ombudsman Service and other official means that can be used directly as a means of obtaining redress.

 

Before making a claim against any lender (or product provider) that you currently have any product or service with, it is recommended that you have alternative arrangements in place or available for this product or service should the lender (or product provider) choose to withdraw the product.


 

 

Product Reviews for Mortgages, Secured Loans and Motor Finance Contracts What are the timescales for the process? The full process for mortgage, secured loans and motor finance contract review and claim can be broken down as follows. All timescales are approximate. The following table assumes that all documentation has been completed correctly and Cartel Client Review has been provided with suitable proofs of address.

Process Step Timescale Initial request to release client file out to lender.

1 week Client file back from lender.

Please note: 40 days only commences once the lender considers it has all relevant information (including cleared payment of search fee).

40 days Missing Information requested and returned.

1 month Client file dissected.

Please note: If, following dissection of the file, crucial information is still found to be missing this may need to be requested and received from the lender before the case can progress. This could extend this stage by around 2 months.

2 weeks Assessment of claim and production of solicitor paperwork.

Please note: If the claim is assessed as having insufficient chances of success a refund of the £495 review fee will be made to you. If prospects are still assessed as reasonable you will complete instruction documentation for the appointed solicitor.

4 weeks Progression of claim.

Please note: Occasionally a claim may take longer, particularly if not all documents have been returned by the lender or if the case is required to go to court for conclusion.

6 to 9 months

 

What is the review fee for and what does it cover? The review fee for all mortgage, secured loan and motor finance product reviews is £495. This covers the review costs incurred by Credit Angel Review prior to a solicitor taking on a claim. The review fee is payable at the time of signing the client agreement. Credit Angel Review will take no payment prior to assessing the relative chances of a successful claim.

 

Credit Angel Review does not take any percentage of any settlement for mortgage, secured loan and motor finance product reviews.

 

Refund? Your payment of £495 for mortgage, secured loan or motor finance product reviews is refundable if the individual claim does not result in a payment to you. However, there is no refund for any claim which is made fraudulently or any claim procedure which is withdrawn by you prior to a conclusion. Please see Terms and Conditions for full details.

 

Your payment of £10, which is made payable to the lender to retrieve the relevant Client documentation, is not refundable.

 

 

Product Reviews for Credit Card Contracts What is the objective of a credit card product review? If a credit card contract is found to be flawed or unenforceable you may be able to:

Claim to cancel the card and clear any outstanding balance on it Claim back any charges previously paid Claim for interest you have previously paid on any outstanding balances Claim for repayments you have previously made
 

What are the timescales for the process? The full process for credit card contract review and claim can be broken down as follows. All timescales are approximate. The following table assumes that all documentation has been completed correctly and Credit Angel Review has been provided with suitable proofs of address.

Process Step Timescale Initial request to release client file out to lender.

1 week Client file back from lender.

Please note: 40 days only commences once the lender considers it has all relevant information (including cleared payment of search fee).

40 days Missing Information requested and returned.

1 month Client file dissected.

Please note: If, following dissection of the file, crucial information is still found to be missing this may need to be requested and received from the lender before the case can progress. This could extend this stage by around 2 months.

2 weeks Assessment of claim and production of solicitor paperwork.

4 weeks Progression of claim.

Please note: occasionally a claim may take longer, particularly if not all documents have been returned by the lender ot if the case is required to go to court for conclusion.

3 to 6 months

 

What is the review fee for and what does it cover? Discounted credit card review fees are available to existing clients of Credit Angel Review.

 

Existing clients progressing with a mortgage, secured loan, motor finance or credit card review are entitled to the discounted rate of £125 (per credit card product review).

 

New clients, who are not progressing with a mortgage, secured loan or motor finance review will be charged a review fee of £495 for the first credit card review (any further credit card reviews would be at the discounted price for existing clients).

 

This covers the review costs incurred by Cartel Client Review prior a solicitor taking on a claim. The review fee is payable at the time of signing the client agreement. Credit Angel Review will take no payment prior to assessing the relative chances of a successful claim.

 

Successful claim fees of £250 plus 30% of the total of interest repaid, payments returned and balance cleared will apply. Please see Terms and Conditions for full details.

 

Refund? Your payment of a review fee for a credit card review is only refundable within the ‘cooling off’ period. Please see Terms and Conditions for full details.

 

Upon making a decision to pursue a product review for a credit card it is highly recommended that you should:

Not make any further purchases using the card Not increase the balance on the card Not incur further arrears Not miss any payments that fall due
Any of the above may affect the success of a claim or the level of any award