/ Glossary
Jargon, decoded.
Plain-English definitions for the legal and financial terms you'll come across in your matter. Updated as the law and our services evolve.
- APP scam
- Authorised Push Payment scam — where you are tricked into authorising a transfer of funds to a fraudster. Reimbursement rules now apply in many UK cases.
- ATE insurance
- After-the-Event legal expenses insurance — a policy that protects you against having to pay your opponent's legal costs and disbursements if your claim is unsuccessful.
- CFA
- Conditional Fee Agreement — a 'no win, no fee' contract under which our fees are only payable if your claim succeeds, plus a 'success fee' calculated as a percentage of your damages.
- Commission
- A payment made to a broker, dealer or intermediary, often by a lender, in connection with arranging a financial product. Where commission was undisclosed or excessive, it may give rise to a claim.
- Consumer Duty
- An FCA rule requiring financial firms to deliver good outcomes for retail customers. Breaches may support a complaint or claim.
- Damages
- Money awarded by a court (or paid in settlement) to compensate you for loss, harm or unfair treatment.
- Disbursements
- Expenses we pay to third parties on your behalf during your case, such as court fees, barrister's fees or expert reports.
- Discretionary Commission Arrangement (DCA)
- An historic car finance arrangement under which dealers could vary the interest rate to earn more commission. Banned by the FCA in 2021 and the subject of widespread current claims.
- FCA
- Financial Conduct Authority — the UK regulator of financial services firms and markets.
- Financial Ombudsman Service (FOS)
- An independent body that resolves disputes between consumers and financial businesses, free to use.
- FSCS
- Financial Services Compensation Scheme — the UK's statutory compensation scheme for customers of authorised financial services firms that have failed.
- ICO
- Information Commissioner's Office — the UK regulator for data protection and information rights.
- Irresponsible lending
- A finding that a lender failed to carry out reasonable affordability or suitability checks before granting credit.
- Legal Ombudsman
- The independent body that resolves complaints about poor service from regulated legal services providers in England and Wales.
- Limitation period
- The period within which a legal claim must be brought, after which the right to claim may be lost.
- Mis-selling
- Selling a financial product to a customer for whom it was unsuitable, or without proper disclosure of risks, costs or commissions.
- No Win, No Fee
- An arrangement under which you do not pay our legal fees if your case is unsuccessful. See our No Win, No Fee page for full terms.
- PCP
- Personal Contract Purchase — a popular form of car finance where lower monthly payments are followed by an optional 'balloon' payment to own the vehicle.
- Plevin
- A 2014 Supreme Court ruling allowing customers to reclaim PPI commission that was not properly disclosed at the point of sale (often where commission exceeded 50% of the premium).
- PPI
- Payment Protection Insurance — sold alongside loans, credit cards and mortgages, often mis-sold or carrying excessive undisclosed commission.
- Settlement
- An agreement between the parties to resolve a dispute without (or before) a full court decision.
- SRA
- Solicitors Regulation Authority — the regulator for solicitors and law firms in England and Wales.
- Success fee
- An additional percentage payable to your solicitor under a CFA if your claim succeeds, typically capped as a proportion of your damages.
- UK GDPR
- The UK General Data Protection Regulation — the law governing the processing of personal data in the UK, together with the Data Protection Act 2018.