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Hampshire Trust has developed a new Matrimonial Funding Facility because it recognises that the funding of matrimonial proceedings by the Legal Services Commission is becoming ever more difficult to obtain leaving people on even relatively modest income and those who are asset rich but cash poor in difficulty. This Client based facility enables the client to pay interim bills as they are delivered by authorising their solicitor to draw down
on the loan.
The key benefits of the facility include:
- Simple, client based funding regulated by the Consumer Credit Act
- No arrangement or non-utilisation fees
- Unlocks capital and improves cash flow
- Funding is available at any stage for both new and existing cases
- Drawdowns may be used to pay disbursements already incurred and not yet billed together with ongoing disbursements, subject to an agreed limit
- Competitive interest rate
- Payments made by BACS
- Operated via a secure internet interface called HELIX which allows information to be obtained and account administration 24/7
These loans give the client the means to pursue divorce and ancillary relief proceedings at a reasonable cost, repayable within an agreed period after the matter is concluded or upon the expiration of two years, whichever occurs first.
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