From the day you complete a claim application form, you will be contacted shortly after by one of our partners who will work your complaint. You should receive a response via the claims management company from the lender/lenders to your complaint between 8 – 16 weeks.
If the lender rejects the claim, it may be that you are recommended to refer your complaint to the Financial Ombudsman, in which case it may take anything from a few months to a year and even longer to resolve with complex claim refunds.
The complete process from submitting a claim to receiving a refund on average is between 6-18 weeks, however, please be advised this is a guide. No two compensation claims are the same and it’s as common a complicated claim may take 6 months to be fully paid out.
Do be aware of claims management companies offering “fast payouts” or not explaining the process fully. As experts, we want to be clear from the start and our partners will be nothing but honest and professional.
All Claims Management companies acting on behalf of a consumer must follow the same procedure, and therefore time scales, please be aware, no claims management company is in control of the time it takes for the lender, FCA, or FOS to reply.