Changes to the Financial Ombudsman Service – April 2025
The Financial Ombudsman Service has recently announced key changes that will come into effect in April 2025, specifically impacting professional representatives.
These changes introduce a new fee structure for solicitors and other professionals representing clients in financial disputes.
What’s Changing?
Previously, the Financial Ombudsman operated as a free service for all complainants, regardless of whether they were individuals or professional representatives.
However, from April 2025, professional representatives, including solicitors handling scam and fraud-related complaints, will be required to pay an upfront fee of £250 per claim submitted.
- If the claim is successful, a partial refund will be provided; the Ombudsman will retain £75, and £125 will be refunded to the professional representative.
- If the claim is unsuccessful, the entire £250 fee will be retained by the Ombudsman.
- For individuals, it remains free to submit a complaint directly to the Ombudsman.
You Will Never be Required to Make Any Upfront Payments for Your Claim
At Phoenix Legal Solicitors, we want to reassure our clients that:
WE WILL NEVER ASK YOU TO PAY ANYTHING UPFRONT FOR YOUR CLAIM.
We understand that scam victims are often in difficult financial situations, and we do not want this change to deter anyone from pursuing their rightful claim. Therefore, we are committed to covering this fee on your behalf if we believe your claim has strong prospects of success.
How We Assess Your Claim
While the introduction of fees adds a new layer of consideration, our approach remains unchanged. As solicitors working on a no win, no fee basis, we always carefully evaluate the chances of success at every stage of the claims process.
- If we determine that your claim is likely to succeed at the Financial Ombudsman stage, we will cover the referral fee for you.
- If we believe your claim may not be successful, we will inform you of this honestly. You will still have the option to submit the complaint to the Ombudsman yourself for free, and we will provide free advice on how to do so effectively.
Why These Changes Should Not Deter You from Using a Professional Representative
1. You Have Only One Chance to Make Your Claim Count
When filing a complaint against a bank for the recovery of lost funds due to a scam, you typically have just one opportunity to get it right. The Financial Ombudsman is often reluctant to reopen cases that have already been reviewed and closed.
By working with experienced solicitors like us, you maximise your chances of success. We know what makes a strong claim and how to effectively highlight the key points that can lead to a positive outcome.
2. Expert Guidance and Emotional Support
Being a victim of a scam can be an emotionally distressing experience. We understand the devastating impact such events can have, and we are here to offer support and guidance throughout the claims process.
Filing complaints with banks and the Financial Ombudsman can be daunting, but we are here to handle the complexities for you and ensure your case is presented in the strongest possible way.
3. Nothing to Lose – No Win, No Fee
Our no win, no fee structure means that if we are unsuccessful, you pay nothing. This ensures that there is no financial risk to you in seeking professional assistance with your claim.
Contact Us Today if You Have Lost Money to a Scam
If you have lost over £3,000 to a scam, we may be able to help.
Contact Phoenix Solicitors today for a free evaluation of your case and take the first step toward recovering your funds.
Let us help you navigate this process with confidence and the best chance of success.
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