Frequently asked Questions
What types of cases do you cover?
We will consider any litigation with a financial settlement. However, the majority of cases where we lend are matrimonial (divorce loans), probate (executor loans for litigation or bridging loans to pay fees and inheritance tax), and financial claims (such as personal injury, medical negligence, professional negligence, housing disrepair, etc).
Divorce Loans : Do you cover civil partnerships?
Yes, we treat civil partnerships in exactly the same way as other divorce loans.
Divorce Finances : Do you cover non married couples?
Yes, we treat non married couples seeking divorce finance in exactly the same way as other divorce loans, although trusts of land law is applicable.
Probate Loans / Executor Loans : Will you lend to pay inheritance tax as well as probate legal costs?
Yes, our finance can be used as a bridging loan to pay inheritance tax as well as probate costs. (HMRC now require inheritance taxes to be paid in advance of probate)
Disbursement Funding Loan : What is covered by the loan?
Anything that is invoiced to the client as a client expense can be covered under our disbursement funding loans. That includes: expert witnesses, expert reports and investigations, court fees and barrister’s fees (if they are not on a CFA)
How are the loans set up?
Everything is done through our website. The solicitor manages the whole loan set up process and is the point of contact for the client. Lime Finance is available to answer any questions if required and Lime Finance does all the administrative work in the background, such as preparing the loan documents. We only accept client loan requests from solicitors who have joined our scheme and only via password access through our website.
How are the loans managed?
Loans are managed through our website. Solicitors and clients have secure password access to view and manage loans (such as to make drawdowns or to print statements). Clients receive regular statements and transaction information via email.
How is Lime Finance regulated?
Lime Finance is authorised and regulated by the Financial Conduct Authority (FCA). Our FCA number is 728998
Can loans be repaid early?
Yes, all loans can be repaid in whole or in part at any time without penalty. Any repayment will reduce the loan balance and thereby reduce future interest charges.
What happens if a client changes solicitor?
Under its terms and conditions a loan becomes due for repayment if a client moves away from the solicitor firm that has set up the loan facility.
How much does a loan cost?
Please follow this link for our up to date loan costs.
Do you undertake credit searches?
Yes, we look at a range of parameters including the client’s credit history. However, our credit checks do not leave a so called “hard” footprint on a credit record.
Do you take a charge on property or other assets from the client?
No. Our security is a guarantee from the solicitor and an undertaking from the client to their solicitor to use the proceeds of their case to repay the loan. Because we do not require a charge on property we can lend when the client’s assets are in dispute and therefore not available to be mortgaged or otherwise charged. We are also able to set up loans very quickly; within days of request. There are also no legal, valuation, advisory or security fees to pay.
