Terms & Conditions

These are our terms and conditions, please read through them and sign on the second page if you accept them.

  1. What Ratio Money will do for you:
    1. We will ‘Audit’ your Mortgage Agreement and, if appropriate, pursue on your behalf, a claim for compensation. If after ‘Auditing’ your agreement we believe that your claim has a chance of success, as judged by our legal panel, we will endeavour to inform you within 28 days.
    2. We will provide this service on a Flat Fee basis where the cost for ‘Auditing’ your Mortgage Agreement will be £495.00. Any other cost in excess of these fees is not a charge levied by Ratio Money but any 3rd party introducing you as a claimant with respect to Ratio undertaking claims services on your behalf (Please note; where you have been referred by a 3rd party these costs are included in any fee you may have already paid).
    3. We will correspond and negotiate with the defendant on your behalf in this action.
    4. We will inform you of all offers that we receive from the defendant; evaluate them and advise you in writing whether we consider it to be in your interests to accept or to reject.
    5. We will forward to you the monies agreed in settlement of your claim with the defendant, subject to the conditions in parts 3 (e) (i) (ii).
    6. We will endeavour at all times to provide you with the professional and dedicated service that you deserve. We will use all reasonable skill and care in the processing of your claim for reimbursement.
    7. We will endeavour to provide resolution to any claim with us within a period of 9 months but where this is not possible due to any change or influence on the business practices of Ratio Money Ltd either internal or external we will seek to resolve your claim as soon as circumstances permit.
    8. We will always act in your best interests in pursuing your claim and seek to always obtain the best results.
    9. We will return all your documents (including bank statements, policy or credit agreements) upon receipt of all monies due in accordance with this agreement.
    10. We will assist you in completing all or part of our application, and/or any subsequent forms which you may be experiencing trouble with.
  2. What Ratio Money will NOT do for you:
    1. We will NOT advise you to pursue a claim that in our opinion has no realistic chance of success, or where the amount in issue does not in our opinion justify the likely work involved, and we reserve the right to cancel this Agreement if we form this opinion.
    2. We will NOT advise you to accept an offer that we consider inadequate or to reject an offer that we consider to be reasonable, and we reserve the right to cancel this Agreement if you wish to accept an offer that we consider inadequate or to reject an offer that we consider to be reasonable.
    3. We will NOT accept an offer without your agreement.
    4. We will NOT give or offer you financial advice.
    5. We will NOT take steps to remove any negative credit entry that the defendant may have registered against your name.
    6. We will NOT offer Legal Advice directly in the event of your claim going to the court stage but will refer you to our panel of qualified Solicitors for direct legal assistance.
  3. What we expect from you:
    1. To provide us promptly with all relevant information and items we request to enable us to pursue your claim.
    2. To provide us with clear instructions.
    3. To cooperate with us (including sending to us any correspondence you receive directly from the defendant).
    4. Not to ask us to work in an improper or unreasonable way or to mislead us.
    5. To provide us with the exclusive authority for the duration of the contract (to the exclusion even of you):
    6. To pursue your claim;
    7. To enter on your behalf into correspondence and negotiations;
    8. To read all of our terms and conditions and to sign to say that you have understood them.
    9. To retain a copy of our terms and conditions for your own reference.
    10. pay any associated court costs (refundable at point of settlement) which may become due should you decide to take your claim through the small claims court, Ratio Money will not offer any Legal Advice, however we will offer you support throughout the process and our panel of Solicitors will of course represent you if needed.
    11. Provide us with your authority to correspond and negotiate with your bank by signing the letter of authority.
  4. Our Fee
    1. We will charge you a flat fee of £495.00 to ‘Audit’ your Mortgage Agreement. This fee is refundable, less a £150 administration charge per mortgage agreement, where the audit of your Mortgage Agreement finds that you do not have a valid claim for compensation. Where you are entitled to a refund you should request this from the firm who introduced you to Ratio Money. If you contacted Ratio Money directly please request a refund from us.
    2. This Fee covers:
      • * Collection of all necessary documents required to facilitate an ‘Audit’
      • * The cost of advertising the Mortgage Claims service
      • * The cost of ‘Audit’ for the Credit Agreements by Ratio Money Ltd and our Legal Panel
  5. Cancelling this Agreement
    1. We can cancel this agreement at any time if you have breached your duties set out at paragraph 3 above or if you accept an offer that we consider inadequate or reject an offer that we consider to be reasonable. In these circumstances we may charge you a nominal fee for the work that we have undertaken for you. In the event that we make such a charge it will be calculated by multiplying the number of hours (or part thereof) spent by us on your claim by the applicable hourly charging rate of £10 per hour, and time spent will be measured in units of six minutes. We will, however, warn you if we intend to charge such fees and how much they are likely to be.
    2. You can cancel this agreement at any time. If you choose to do so we will make a reasonable charge for the work that we have undertaken. This will not be calculated in accordance with 5(a) above but will be a reasonable charge for the work undertaken.
    3. Cancellation of this Agreement by either party must be in writing.
    4. There is a 14 day cooling off period in which you may cancel the agreement without any charge.