We understand how stressful family law cases can be. Litigation loans can help to reduce the stress and uncertainty.
Whether it’s divorce, cohabitation property disputes or child custody proceedings, knowing you have a solicitor you feel comfortable with, representing your best interests, can help make the whole process feel much less daunting.
If you are concerned about how you are going to pay your legal costs, including your solicitor’s fees and additional costs such as barrister or forensic accountant fees, a litigation loan can give you peace of mind during a difficult time.
We have access to leading litigation loan providers to assist you with paying our legal fees and court fees. The loan is provided as a facility so you just draw-down what you need, when you need it, providing fast and efficient lending.
- Pre-approval of funding – litigation loan approved all the way to final hearing, but interest only due on what is drawn down to pay solicitor fees;
- Rapid lending decisions – clearly defined, simple lending criteria;
- Flexible timing – use the loan at any point during the proceedings;
- Limited outlay – the interest and set-up fee are rolled into the litigation loan;
- A simple and transparent charging structure – regular statements will keep you informed of what you owe at any point so there are no surprises;
- A lending rate that is fixed for the whole duration of the litigation loan, and
- No exit or early redemption penalties.
- Re-payment (capital and interest) required only at the end of proceedings. No ongoing repayment, of any amount, required during proceedings.
- Interest, unlike high street loans, credit cards etc, is fixed at 1.5% per month and charged only against sums drawn down and NOT against the previous accrued interest and/or the total litigation loan facility sum.
- No charge is required to be registered against property. Instead a less intrusive deed of assignment is required i.e. a promise by the client to re-pay sums at the end of the financial proceedings from any settlement sums.
- No requirement to have assets in your name i.e. as long funding provider can determine that you have a financial interest in your spouse’s asset(s) this shall be sufficient to secure funding.
- All legal and disbursement fees incurred can be drawn down against the facility.
- Each and every litigation loan drawn down request is to be approved by the client before the sums are transferred to Austin Kemp. Client maintains control throughout.
- No commission or any other benefit is received by Austin Kemp.
- Independent legal advice is required by providers prior to the facility becoming live.
- Set up admin fee £250. Added to the facility amount. (charged by provider).
- No cost to make a preliminary application.
Please note, this lending scheme is not ‘recommended’ by this firm. This scheme is one funding option potentially available to you and you should explore other sources of borrowing to ensure this is the best choice for you.