It is important to remember that no win no fee and 100% compensation are two very different concepts. Knowing the difference between the two can make a big impact. Having a clearly defined idea of what each concept entails is key to your personal injury or accident claim in the UK.
No win no fee means, quite literally, that if you do not win your case, you do not have to pay your solicitor fees. If you do win your case, your solicitors fees are usually paid as a percentage of the compensation you are awarded (25% at most).
100% compensation means that you personally receive the full amount of compensation you are entitled to. If you are not offered a 100% compensation clause, you may be required to sign a conditional fee agreement. A conditional fee agreement entitles your solicitor to up to 25% of your compensation.
While it is ideal to receive a no win no fee claim offer on a 100% compensation basis, most no win no fee solicitors simply do not offer it as a result of changes to the law in April 2013. These changes mean that solicitors can no longer claim their success fee from the losing party. A conditional fee agreement still means at least 75% compensation and no solicitor fees. With or without a 100% compensation clause, winning a no win no fee claim means you will receive compensation for your personal injury. Losing a no win no fee claim, of course, leaves you no worse off than before.
