Our charges are transparent and straightforward.
The set-up fee is £500 (or 1% if the loan amount is above £50,000). This can be added to the loan or paid upfront. Interest is accrued only on the money you use, at a fixed rate of 1.5% per month (not compounded), and due only when your case is complete. Please note that this is not recoverable from the losing party.
Initially, you will need to the pay the cost of counsel’s opinion, which is required to determine the likely merit of the case, but this can be added to your loan if approved, along with insurance, if required.
Independent legal advice is typically circa £300 (and cannot be added to your loan). This is required to ensure you fully understand all the implications of the loan arrangements.
If you do not have sufficient security you may be required to take out insurance. This will be 11.2% of each drawdown and will be added to the loan
You may also take out After the Event (ATE) insurance for adverse costs. This is not mandatory and the cost will be agreed between you and the ATE insurer directly. Speak to your solicitor to find out more about this.
There is no minimum loan period, no exit charges and no minimum interest charge."