Affinti requires the Solicitor to undertake to repay the amount of the loan plus accrued interest out of the proceeds of the claim or the ATE policy to the extent that there are sufficient funds to do so. There are additional undertakings requiring the Solicitor to notify Affiniti in the event that the client/borrower acts or threatens to act in such a way to
undermine the good faith agreement between the parties or prejudice the litigation.

No, the fact that you are aware of Affiniti’s product means that you are able to discuss it with the client as part of the usual introductory discussion about funding litigation. If the client is interested, you may give them Affiniti’s details but you should not be recommending the product.

The first step is for the client to complete a loan application form. Affiniti will consider the application (which will take no more than 48 hours) and we will then send the prospective borrower a draft loan agreement for their consideration and a letter of authority to send to you requesting you to send us the paperwork relating to the claim. After we have received this, we will assess the claim and, if approved, make an offer to the client based on our assessment. If they are happy to proceed and the loan agreement and Solicitor’s undertaking is returned to us (and the 14 day cooling off period has expired) the loan will be made available.

From start to finish, assuming all steps are taken timeously, including the 14 day cooling off period, we anticipate the process will take less than 28 days.

No, all documents have already been prepared and will be provided to the client at the appropriate time. However, draft copies of the loan agreement and solicitors’ undertaking will be made available if requested.

Our minimum advance is £2,000 and our maximum advance is £200,000.

The money is paid, at the client’s direction, to yourselves.

The charging structure is transparent and straightforward. There are no administration charges nor early repayment penalties. The only cost of borrowing the money is the interest (calculated on a simple basis) which Affiniti charges. The interest will depend on the amount borrowed and our assessment of the case. Our disbursement loan is structured as a facility and a drawdown fee is payable.

Interest is calculated on a simple basis i.e. there is no compounding of interest, and it accrues on a daily basis. Interest is not charged on drawdown fees.

All the interest is rolled up so there is nothing to pay us until the loan is settled. As we do not compound (i.e. charge interest on interest) there is no cost penalty for waiting until settlement.

Yes, but only in the event that they decide to repay the loan before the outcome of the case is known. Once the outcome of the case is known, assuming it is successful, then in Solicitors accordance with the solicitors’ undertaking, the loan and accrued interest (assuming there are sufficient proceeds) must be repaid in full from the proceeds of the claim.

The loan period is linked to the timing of the outcome of the claim, whether it is determined at trial or settled at an earlier stage.

Yes, there are no penalties for paying off the loan early. We calculate interest daily so the shorter time that the client has the loan the less interest they will pay.

The loan will remain in place for as long as it takes the case to be heard or to settle. No extensions beyond this time will be given.

No. If the client wishes to take out a disbursement loan they must have an ATE policy in place.

Affiniti’s loan scheme is designed to be offered to anyone, whether individual or corporate, that has commenced proceedings for damages arising out of a legal wrong, whether a personal injury claim, financial claim on divorce, contractual dispute, contentious probate etc.

Our non recourse loan is unsecured, although we will require an undertaking from the Solicitor acting for the client to repay the loan plus accrued interest out of the proceeds of the case. Our disbursement loan is secured by way of an undertaking over the proceeds of the ATE policy.

Yes, Affiniti is authorised and regulated by the Financial Conduct Authority. Our registration number is 664254.

A loan can be applied for at any time. We want to be satisfied that an analysis of the case has already been undertaken by the legal representatives and the client has been advised to proceed. It also assists us to know that a financial commitment towards the claim has already been made, whether by the client personally or by the solicitors by way of a conditional fee agreement or a damages based agreement.

Disbursement Loan – Our disbursement loan is secured by way of an undertaking given by you and your client over the proceeds of an ATE policy. Such a policy must be in place before the loan is advanced and the monies can only be used to pay for costs that are covered by the ATE policy.

Non Recourse Loan – Our Affiniti for Health loan is non recourse and is unsecured. The loan monies can be used for any purpose that improves the health and wellbeing of the borrower. We are keen to ensure that the benefits of using the loan monies are greater than the interest costs of the loan.

Affiniti does not give an opinion on the recoverability of interest from the defendant. However, the Court has the power to include interest as part of the claim for damages (see Jones v Secretary of State for Energy and Climate Change).

No, the litigation is pursued by the client in their name and they will have the sole conduct of the case. For this reason, Affiniti believes that it will not expose itself to third party costs orders. Only in the event of default under the loan agreement will the benefit of the claim be assigned to us.

Even though Affiniti is primarily making a decision to lend based on our assessment of the claim, we are required by the FCA to undertake an assessment of the client’s financial circumstances. Fundamentally, we need to know that they are not insolvent and that they therefore have the right to bring the claim. However, we will ask additional questions to understand more about their financial circumstances. All information will be assessed, although the merits, value and collectability of the claim will be the overriding consideration.

If the client wishes to instruct a new firm of solicitors, Affiniti will require an undertaking from the new solicitors. If the new solicitors are not willing to replace the undertaking the client will be in breach of the terms of the loan agreement and the loans and accrued interest will become repayable to us immediately. If the client discontinues the proceedings for no good reason, the loan plus interest will become repayable.

No, there is no requirement for this but if the client wishes to do so (whether of their own volition or on the litigation Solicitors’ recommendation) that is, of course, fine. Our procedures are simple and transparent and all of our documentation is written in clear and straightforward English. We are also obliged by the FCA to explain fully to the client the implications if they breach the terms of the loan agreement.

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Key Benefits of our finance services:

Empowers you to pursue a claim that you could not otherwise afford to make.
Allows you to improve the strength of the claim.
Gives you immediate access to private sector physical and mental healthcare services to improve your health status, long before your claim is resolved.
All our loans are either secured on an ATE insurance policy or are non- recourse – if your claim fails you are not required to repay capital and interest to us.
Fixed rates of interest give you greater certainty about the cost of our loan.
No set up or administration fees.
If you receive an interim payment from the defendant, you can repay our loan early with no penalties.
We are able to guide you on how to put together an integrated health treatment plan to meet your unique needs.
We can give guidance on where to find the best specialist healthcare and devices.
A high quality personal service, with rapid credit decisions.
Integrity, honesty, openness and clarity in all our dealings with you and your lawyer.