Thousands of people in the UK have been subject to undisclosed commission on financial products they have been sold, with many customers completely unaware the commission payments existed.
Smart Family make starting your secret commission claim easy. We have a panel of agents who are on hand to talk you through the process. There is no obligation to use their service after they have performed their initial checks, and none of the checks will affect your credit score. If you are one of the thousands in the UK that might have been affected by the undisclosed commission scandal, contact one of the ClaimExperts panel today and they will be in touch to talk you through the next steps. There are no up-front costs, and any payments to us will simply be deducted from your compensation award should your claim be successful.
Have you been a victim of hidden commission mis-selling? If you were subject to secret fees from your finance broker and/or bank, you may be entitled to compensation. The Smart Family panel of solicitors can guide you through any potential claim, and they work on a No Win, No Fee basis, so there is no risk to you.
Important Information:
Smart Family does not give legal advice. Smart Family acts as a leads generator and obtains a fee from third parties in exchange for our clients’ claims.
You do not need to use a claims management company to make a claim for compensation. It is possible for the customer to present the claim themselves for free, either to the person against whom they wish to complain or to the relevant Financial Ombudsman Service (FOS) or the statutory compensation scheme (FSCS).
The No Win No Fee Success Fee is based on which expert panel member we refer you to and is payable to them. Our panel currently consists of a number of law firms, which can also be found on our Terms & Conditions. The No Win, No Fee varies, but is generally between 25%- 30%.
There may be a termination fee if you cancel your claim with a panel member after the cooling-off period. Please review the solicitor’s legal contract including their fee’s / charges before signing. We are paid a referral fee by our panel members for a successful introduction. Smart Family will not charge you for our service.
A lender must inform you of ALL the fees associated with a transaction. A general statement that “a commission may be paid in certain circumstances” is not adequate enough. They must inform you at the point of sale how must the commission was. If they fail to do so it is a form of fraud. Both the lender and the finance broker may be liable for potential claims. The broker in this scenario is treated as an agent of the borrower. This means that they owe a fiduciary duty to their client, including informing them of any profit they will make. In this sense, financial brokers owe some duties to their clients, such as:
Everyone is now aware of the mis-selling scandal of PPI, and the deadline for claiming back compensation has now passed. However, if your bank or credit card provider did not disclose any commission that was paid at the point of purchase of PPI, they could potentially be liable for a separate undisclosed commission claim if you have not already claimed PPI compensation.
UK businesses could be owed billions through mis-sold business energy contracts. Often, these contracts are sold through energy brokers or consultants, sometimes known as third party intermediaries. If the energy broker kept secret how much they were earning from this transaction, that is mis-selling. Mis-leading statements in relation to how the energy brokers get paid are often driven by financial motives for them, and not you.
Please note that this claim type is not regulated by the FCA.
Personal Contract Purchase (PCP) financial plans for purchasing a car help customers obtain a motor vehicle for around 2-4 years by paying a monthly fee. Usually, customers will make a deposit of around 10%, and then an agreement is drawn up on monthly payments and any interest to be paid. However, a broker will often get a commission for using certain lenders. Lenders have a habit of hiding this commission that is offered to their brokers.
Please note that the FCA is investigating discretionary commission in car finance. Providers have until 25 September 2024 to respond to related complaints. Consumers can still submit complaints, but responses are paused until then. For more info, visit the FCA’s car finance complaints page.
Engage with a seasoned Claims Management Company renowned for its comprehensive industry knowledge.
Our experts are equipped with the necessary experience to navigate claims against entities responsible for mis-selling financial products.
Trust in our proven ability to meticulously uncover and document financial discrepancies for your benefit.
The solicitors working with Smart Family operate on a No Win, No Fee basis. This approach means that clients do not bear any financial risk when pursuing a claim.
Hidden commissions are fees or payments made to agents, introducers, or finance brokers when they sell you a loan or finance agreement from a bank or lender, without your knowledge. Banks and lenders are required to inform you of all fees within the transaction, including any commissions paid to brokers. Failure to do so constitutes fraud, making both the lender and the broker liable for potential claims.
Yes, if you were sold a financial product without being informed of the commission involved, you might be entitled to compensation. This is particularly true for cases where finance brokers or lenders have not disclosed commissions earned from loans sold to you. Our solicitors at Smart Family are here to help you secure the compensation you deserve, adhering to strict consumer protection laws.
Examples include undisclosed commissions in Payment Protection Insurance (PPI), business energy contracts sold through brokers who did not disclose their earnings, and undisclosed commission fees in Personal Contract Purchase (PCP) car finance deals. These cases involve customers paying significant premiums, often unaware of the commissions involved.
Starting your claim with Smart Family is straightforward. Simply complete our online form. This step will not impact your credit score, and there are no upfront costs. Our panel of experts will guide you through the process, ensuring you understand your rights and potential for compensation.
Smart Family specializes in hidden commission claims, with a panel of solicitors experienced in financial services and compliance. We offer guidance on potential claims and operate on a No Win, No Fee basis, eliminating financial risk for you. Our team has a successful track record in securing compensation for clients affected by the mis-selling of financial products.
Upon submitting your claim, Smart Family will connect you with a pre-vetted legal firm from our panel. These firms operate on a No Win, No Fee basis and are regulated by either the FCA or SRA. Your assigned legal firm will manage your claim, aiming to secure the compensation you deserve, with no upfront fees involved.
At Smart Family, we operate on a No Win, No Fee basis. This means you will not face any costs unless your claim is successful. The success fee, generally between 25%-50%+VAT, is payable only if you receive compensation. This fee structure ensures that pursuing a claim with us carries no financial risk to you.
Under consumer protection laws, lenders and finance brokers are required to disclose all fees and commissions associated with a financial transaction. Failure to do so can lead to compensation claims. Financial brokers owe fiduciary duties to their clients, including acting in the client’s best interest and disclosing any profit made.
