Surrey Homes | SH63 | January 2020 | Travel & Wellbeing supplement inside

ADVERTISEMENT FEATURE
FUNDING YOUR DIVORCE
The costs of funding a divorce
and financial proceedings
can be an important factor in
deciding how to progress a matter.
It can often be the case that funds
aren’t available to pay solicitor’s bills
as they are raised, which may see the
process stall.
There are several companies now
offering litigation loans to help pay
legal costs on the understanding
that the loan is repaid from liquid
matrimonial assets once the matter is
settled and a court order made.
This can offer a real solution to a
client struggling to fund a case.
How funding can help
While a loan can help the cash flow
problem, it also puts the parties on
an equal footing, able to progress
matters to a conclusion and reach
a fair settlement. When there is an
imbalance of financial fire power,
one party may be pressured into
accepting an offer that may not be
fair to them, and the courts are quick
to recognise such loans as a necessity
and a valid liability.
The amount to borrow plus the
interest needs to be considered in the
context of what the party if hoping
to achieve through the process. If it
is the case that parties are £150,000
apart, and a party has been advised
that their claim is closer to that which
the judge may make at the end of
litigation, the cost of borrowing can
be seen as a practical and affordable
means to an end, enabling the matter
to progress to a conclusion.
As a solicitor it’s important to advise
your client on the best chance
of achieving the most favourable
settlement spending as little as
possible and with the least delay.
That may mean taking the matter to
court where the opposing party is
maintaining an unrealistic position,
and this is where litigation funding
can help.
Choose the right funding
There are an increasing number of
companies offering litigation loans.
The key in choosing the right one
is to find a funder who is able to
make quick lending decisions to
help strategy and reduce stress to the
client. A lender with a simple and
user-friendly application process
will save time and therefore be
cost efficient for the client. Also
a personalised service can reduce
stress and improve the experience for
all parties. It also helps if the lender
has experience of family law, and is
aware of the possible outcomes and
strength of a client’s case. This will
inevitably mean a more targeted,
quicker, and more efficient service.
QualitySolicitorsRose&RoseS56.indd 1
In conclusion
The benefits of taking out a litigation
loan when finances are tight can be
summarised as follows:-
A litigation loan can often be
cheaper than engaging in fruitless
correspondence with the side that
can afford the fees, particularly
where court hearings will see the
matter more quickly.
It helps the financially disadvantaged
party achieve equality of negotiating
power, removes uncertainty and
anxiety, and sees the matter move to
a conclusion more speedily.
At Rose & Rose Solicitors, in many
cases, litigation funding is considered
as part of the overall strategy of a case
from the outset. Funding can greatly
assist your ability to fight or settle
your case, increasing the chance of a
successful outcome for you .
Tel: 020 8974 7490
Email: info@roselegal.co.uk
www.roselegal.co.uk
40 High Street, Kingston-upon-Thames, KT1
1HL | 30 Stamford Street, London, SE1 9PY