“No Win, No Fee” is another name for a Conditional Fee Agreement (CFA). These agreements enable clients to reduce their financial risk when filing a claim for compensation. The main benefit to the client is that they do not pay their own solicitor’s fees if they do not win their case.
If the client wins the case, there is a success fee payable by the client, which is deducted from his compensation at the end of the case. This reflects the risk (of not being paid) taken on by the solicitor in the first place.
The success fee was previously paid by the losing party, however the Government changed the Regulations in 2013, since when it is the responsibility of the Claimant to pay the success fee in the event of a win. The regulations cap the success fee at no more than 25% of the compensation recovered for pain suffering and loss of amenity and past financial loss
CFAs also present other issues to consider, however. Longden, Walker & Renney provide full costs advice to you from the outset of the claim, including – where applicable – a full explanation in respect of any No Win No Fee agreements.
You are then able to proceed under full awareness of the potential costs of your claim, so there are no unpleasant financial surprises further down the line.
If you would like more information, or have any further questions, please don't hesitate in contacting us. You can get in touch via our online enquiry form and one of our team of experienced solicitors will get in touch at a time that is convenient for you. Alternatively you can email email@example.com or telephone 0191 5666 500.