Litigation funders typically finance legal cases in return for a defined share of the proceeds.
A standard process is that the litigant obtains funding to cover its legal costs from a private funder on a no win-no-repayment basis. As a result only cases with a good prospect of success tend to get funding.
Woodville have identified a significant gap in the market to assist solicitors’ practices that cannot fund either the cases available to them or their disbursements.
- Woodville primarily operate in cases of Personal Contract Purchase (‘PCP’) and mis-selling claims.
- A loan period of up to 12 months.
- A fixed simple, not compounding, monthly interest.
- The loan would be secured on an ATE (‘After the Event’) insurance policy.
- In the event that a claim is lost or discontinued, the loan is repaid to Woodville from the insurance policy proceeds.
- Upon case settlement, the loan is fully repaid prior to client receipt and sent directly to Woodville from the solicitor.
We are a responsible lender who promotes its lending business through a series of targeted marketing initiatives in parallel with the insurer.
Woodville are looking to increase the size of our loan book to satisfy the increasing demand for litigation funding in the United Kingdom.
‘After the Event’ Insurance
‘After the Event’, more commonly known as ATE, is an insurance policy taken out after a dispute has arisen to protect against the risk of having to pay your opponent’s legal costs if the case is lost.
Woodville’s unique process ensures a highly protected funding mechanism with measures put in place to secure our loan which in turns provides solicitor funding.