Funding to assist individuals with their legal costs allowing solicitors to get on with resolving their cases
Funding to assist individuals with their legal costs allowing solicitors to get on with resolving their cases
At Level, we believe our role is to make the route to financing legal costs the least stressful part of a challenging process.
During the most pivotal, difficult and life-changing moments, it is vital to have the very best legal advice, support and expertise at hand.
Assets are often held in just one party’s name, creating an imbalance in the level of representation the parties can afford.
So we’ve developed a financing solution that assists both solicitors and their clients with the legal costs of litigation to create a level playing field.
We are an independent lending boutique with in house family law expertise, who work with a select group of top family and private client law firms in the UK.
We provide funding to cover the legal and living expense costs of individuals going through litigation, ensuring the strategy of the case will not be hindered by lack of access to funds and a fair financial settlement can be reached.
Our in-house family law and financial expertise enables us to quickly grasp the legal complexities within a case. We provide bespoke and competitive lending solutions on simple or often, highly complex cases.
Being an independent boutique, we make fast decisions. We can usually provide an in-principle offer within 24-48 hours. This level of efficiency continues throughout the proceedings.
We are a small and dedicated team, providing a highly personal service to solicitors and borrowers. We pride ourselves on our exceptional responsiveness.
Level mirrors the first-class service offered by the elite family law firms and are recognised for this approach throughout the industry.
Level will fund solicitors’ fees and disbursements including barristers’ fees during legal proceedings whether through court, mediation or arbitration.
Level can provide fully secured or unsecured lending, depending on your circumstances and will compensate borrowers who have stronger security with a lower interest rate.
Level will agree a maximum loan facility based on the circumstances of your case which will be paid into your solicitor’s client account. Each time your solicitor raises an invoice he or she will ask for your consent to pay it from the loan facility held by Level.
Level can also provide a separate facility to cover reasonable living expenses.
You will only pay interest on the amount you draw down and the capital and interest only becomes repayable upon the conclusion of the case.
Our loans can be used to fund legal expenses relating to your divorce proceedings. This includes your solicitor’s fees and any disbursements, such as fees for Counsel of other experts such as forensic accountants or surveyors.
Level can also provide a separate facility to cover reasonable living expenses.
At the outset, we will agree an upper facility for your loan with you and your solicitor. During your divorce proceedings, as and when your solicitor raises an invoice (subject to your approval) we will disburse the funds directly into your solicitor’s client account.
Level is one potential funding option available to you and you should explore all other funding options to ensure you chose the most suitable solution.
Credibility – a loan from Level will be taken into account by a judge as a liability on your side of the balance sheet, whereas a loan from friends or family might be considered a ‘soft’ loan, and not given the same weight.
Speed – with our in-house legal and financial experience we are able to make very quick lending decisions.
Flexibility – you can draw down from the loan at any point during the proceedings. Interest is only paid on the amount drawn down for settlement of invoices.
No payments upfront – borrowers only pay Level at the conclusion of their proceedings, once the settlement has been paid. Interest is only paid on the amount drawn down for settlement of invoices.
Your solicitor receives no financial incentive from Level, nor do they recommend Level to you.
However, you and your solicitor will benefit from the loan in the sense that all legal costs and disbursements are paid without delay, meaning the strategy of the case will not be hindered by lack of access to funds.
In the first instance, please either contact us directly or ask your solicitor to enquire on your behalf. You must have already appointed a solicitor in order to apply.
As part of the application process we will ask your solicitor to provide us with some information about your case, such as the stage you are at in the process, the likely value of your financial settlement and other significant facts. Your solicitor will have calculated the size of loan you will need in order to reach the conclusion of your case.
Once we have received your application, we will speak to your solicitor and make a lending decision, usually within 48 hours.
Our costs are designed to be as simple and transparent as possible.
Level usually charges an administration fee of £500 or up to 2% of the facility. You can usually elect to pay this fee upfront or add it to the loan, however this may be at our discretion.
Level is a bespoke lender and our interest rates range from 1%-2% per month (12%-24% per annum)* depending on your case.
The rate of interest will be fixed from the outset so you will know exactly what your repayment amount is going to be, regardless of any fluctuations in the interest rate.
Interest is only accrued on the money draw down and is rolled up, only becoming payable when the loan is settled at the end of the loan agreement.
Interest is calculated on a flat rate, unlike most lenders we do not charge ‘interest on interest’ which helps keep the overall cost of borrowing down.
*Representative example: amount of credit £100,000 for 12 months. Interest rate 18% per annum. Interest £18,000. Administration fee of £1,000 (1% of the facility). Total repayable £119,180. Representative 19.20% APR
Yes; as with any arrangement of this kind, we will ask you to seek independent legal advice before entering into the loan agreement with us. We or your solicitor can recommend an appropriate independent solicitor if needed.
If your loan is to be secured over your property, you will be required to take independent mortgage advice to confirm the loan is suitable. Again, either your solicitor or Level can recommend a suitable advisor.
We will agree a time period for each individual loan depending on your circumstances. This will usually hinge on the timing of specific events, for example the payment of a lump sum from your former spouse or the sale of a property.
The loan must be paid off in one single payment.
If your loan is secured over property, the maximum loan term will be 12 months.
The interest is rolled up and only becomes payable at the end of the loan term when the loan itself is repaid.
There are no penalties for paying the loan early, either in a single payment or by instalments.
The loan agreement is between you and Level, but your solicitor does play an important role in the process.
You must have already appointed a solicitor when you apply for a loan with us. Your solicitor can either provide you with our details or you may inform your solicitor that you wish to take a loan with us.
Your solicitor will complete a simple application form which provides us with information about your case such as your likely settlement sum and the amount you wish to borrow. They are also obliged to keep us informed of any significant changes in circumstances that may affect the settlement you are likely to receive.
Your solicitor provides an undertaking to pay the loan plus interest back to Level as soon as your settlement sum is received.
Once your loan facility is approved we will transfer the agreed initial sum into your solicitor’s client account. Each time your solicitor raises an invoice he or she will ask you to approve it before drawing down the funds from their client account.
At the conclusion of your case, your solicitor will return any funds that have not been drawn down and pay back the loan plus interest and set up fee out of your settlement sum before passing the balance on to you.
We will undertake a credit check as part of our due diligence. We will require your permission prior to doing this.
If the loan is secured over your home, as with any mortgage, your home may be at risk if you fail to repay the loan.
The loan is linked to your current solicitor as only approved family law firms can use our funding offering. Any new solicitor you appoint would have to be approved by us in order to use our funding offering, otherwise this would constitute a breach of the loan agreement and the loan will need to be repaid in accordance with the terms of the agreement.
The loan is linked to your current solicitor as only clients of approved family law firms can use our funding offering. If you choose to act for yourself, you will be in breach of the agreement and the loan will need to be repaid in accordance with the terms of the loan agreement.
IF YOUR QUESTION IS NOT ANSWERED ABOVE, PLEASE CONTACT US.
Level will enter into a single agreement with certain approved law firms which will then cover all loans that we provide to their clients.
Level will fund financial proceedings, children matters and ToLATA cases, whether your clients are using arbitration, mediation, collaborative law or the courts. We will cover your fees and disbursements, including Counsel’s fees.
Level can also provide a separate facility to cover reasonable living expenses.
The loan is provided as a flexible facility, which is drawn down by you, subject to your client’s approval, as and when invoices and disbursements become payable. This is paid directly into your client account improving your cash flow and allowing you to concentrate on your client’s case.
Loans can be secured or unsecured and will be tailored to the individual circumstances of each client’s case.
Before you and your clients can use our lending offering, your firm will need to sign up to our terms of engagement. Please get in touch for more information.
We look at each application on a case by case basis and will ask your opinion on the likely success of their case.
We will undertake our own credit checks, with your client’s permission.
We can lend on a secured or unsecured basis.
We will ask you and your client to complete our application form, which can be found through our online login. We will swiftly assess your client’s eligibility for a loan and aim to give you an initial lending decision within 48 hours.
The loan is used to pay your fees and any disbursements, including Counsel’s fees.
The proceeds of the loan will be paid directly into your client account, once your client has approved your invoice.
Level can also provide a separate facility to the client to cover reasonable living expenses.
Upon application, we will agree an upper facility amount. This is designed to cover all your client’s anticipated legal costs through to the conclusion of their case.
Each time a drawdown is requested to settle an invoice, once we have received your client’s authorisation, Level will release the monies directly into your firm’s client account.
No financial undertakings are required.
Solicitors must agree to take receipt of the settlement into their client account and ensure that Level is repaid any outstanding sums from their client’s settlement figure before passing the balance on to their client.
They must also undertake to inform Level of any changes in their client’s case which could affect their ability to repay the loan.
No there are no early repayment penalties.
Our costs are designed to be as competitive, simple and transparent as possible.
Level usually charges an administration fee of £500 or up to 2% of the facility. Your client can usually elect to pay this fee upfront or add it to the loan, however this may be at our discretion.
Level is a bespoke lender and the interest rates range from 1%-2% per month (12%-24% per annum)* depending on the case.
The rate of interest will be fixed from the outset so your client will know exactly what your repayment amount is going to be, regardless of any fluctuations in the interest rate.
Interest is only accrued on the money draw down and is rolled up, only becoming payable when the loan is settled at the end of the loan agreement.
Interest is calculated on a flat rate, i.e. unlike most lenders we do not charge ‘interest on interest’ resulting in a significantly lower APR, than if the interest compounded.
*Representative example: amount of credit £100,000 for 12 months. Interest rate 18% per annum. Interest £18,000. Administration fee of £1,000 (1% of the facility). Total repayable £119,180. Representative 19.20% APR
If we are taking security over your client’s property, your client will need to take independent advice from a mortgage adviser to confirm suitability.
In all cases, we require your client to take independent legal advice once they have received the documentation, to ensure that they understand the agreement they are entering into.
This is decided on a case-by-case basis and will usually be linked to a specific event such as the sale of property or receipt of a settlement figure. If we have taken a legal charge over your client’s property as security for the loan, the maximum loan duration is 12 months.
The loan is linked to your firm and only approved family law firms can use our service with their clients. Therefore any new solicitor your client appoints would need to be approved by us, otherwise the loan would need to be repaid in accordance with the terms of the loan agreement.
Similarly, if your client decides to act in person that would constitute a breach of the clients loan agreement and the loan would need to be repaid in accordance with the terms of the loan agreement.
IF YOUR QUESTION IS NOT ANSWERED ABOVE, PLEASE CONTACT US.
Chief Executive Officer & founder george@thelevelgroup.co.uk
Prior to founding Level, I was a private client wealth manager holding positions at partner and director level. I worked closely with a number of leading UK family lawyers, helping their clients manage their financial settlement post-divorce and obtain finance during their legal proceedings to cover their legal costs. During this time, it became clear that there was an opportunity to improve the space for lawyers and their clients.
At Level, I oversee all aspects of the business including the credit committee. I am also the main point of contact for solicitors and their clients.
Chief Operating Officer lucy@thelevelgroup.co.uk
Lucy has a first class degree from the University of Manchester and has been a core member of the Level team since launch, designing and implementing all of the business’ key operational and financial infrastructure. Lucy joined Level from a large, world leading design agency where for five years she oversaw their operations and managed complex, multi-million pound projects. Today Lucy has direct oversight over Level’s financial, operational and compliance functions, is leading the roll out of Level’s new software platform and is a member of the credit committee.
Managing director chris@thelevelgroup.co.uk
I graduated from St. Catherine’s College, Oxford University in 1998 and bring over twenty years of financial services expertise to Level. Before joining Level I was head of investment and corporate advisory businesses at Salamanca Group, a boutique merchant bank. Prior to that I held senior roles at JP Morgan and Bank of America Merrill Lynch. In addition to my role at Level, I sit as a non-executive director on the funds of Bletchley Park Asset Management.
My decades of experience bring both operational and strategic expertise to the executive team at Level
Director and founder katie@thelevelgroup.co.uk
I graduated from Brasenose College, Oxford before completing the Postgraduate Diploma in Law and Legal Practitioners’ Course at The College of Law, London.
I went on to practice as a family solicitor at what was then the country’s number one firm for family law, Manches LLP in London, where I represented people dealing with all aspects of divorce.
In addition to my director and board responsibilities at Level, I conduct legal due diligence into the cases we fund and communicate with solicitors about any areas of legal complexity.
Associate Directormax@thelevelgroup.co.uk
Prior to joining Level I worked for Deloitte in their Corporate Finance team, focusing on Mergers & Acquisitions. I subsequently spent several years working with First Trust, a global asset management firm.
At First Trust my role was to build the firm’s presence in Europe, predominantly by establishing relationships with prominent private banks, wealth managers and hedge funds.
At Level, I am one of the primary points of contact for solicitors and their clients and ensure that we continue to deliver an unrivalled level of service in the market.
Senior Associatesam@thelevelgroup.co.uk
Prior to Level I spent several years in management positions in emerging markets in Asia and Africa. Most recently, I set up a company in East Africa that carried out technical services for large international projects.
At Level, I help to deliver operational excellence as well as act as a primary point of contact for solicitors and their clients, ensuring a highly efficient, bespoke and personal service is provided.
Associatealex@thelevelgroup.co.uk
Prior to Level I was an experienced Project Manager responsible for delivering multi-million-pound projects across a number of global markets.
At Level, I am a one of the primary points of contact for solicitors and their clients ensuring the highest levels of efficiency coupled with a bespoke and personal service
Underwritertom@thelevelgroup.co.uk
Prior to joining Level I worked in the underwriting teams at both Masthaven Bank and Novitas Loans, gaining a firm understanding of both the Short Term Lending and Litigation Finance sectors. At Level, I am primarily responsible for the assessment and underwriting of all loan applications, ensuring an attentive, efficient and personal service throughout the initiation of new cases.
Consultantdavid@thelevelgroup.co.uk
I spent 43 years at 1 Kings Bench Walk (1KBW) which is the pre-eminent barristers chambers for family law in the UK with an unrivalled reputation for providing outstanding service. In my role as senior consultant to Level, I bring extensive market knowledge and expertise to the team, ensuring that we deliver exceptional levels of service to solicitors and their clients.
Non-Executive Director and board adviser
Neil brings many years of experience and considerable expertise in law and litigation funding to the table, strengthening our team of directors and advisory board enormously.
Neil co-founded Therium in 2008 and is a director of Therium Capital Management Limited and is also the firm’s Chief Investment Officer. Neil is a solicitor with over 17 years’ experience and was previously Litigation Counsel in-house for Marsh & MacLennan Companies, Inc. (MMC). Prior to this he was in practice in the City of London with US firm Reed Smith and Withers. He is a board member of the Association of Litigation Funders the self-regulatory body for the litigation funding industry in England and Wales, of which Therium is a founding member. Neil speaks regularly at conferences and is often quoted in the media on issues related to litigation funding. He gained an MA in Jurisprudence from the University of Oxford (1995). Neil Purslow was ranked as a Tier 1 litigation funder by Chambers and Partners.
Chairman
I was a senior partner of the leading international law firm King & Wood Mallesons, where I was consistently selected as a leading international lawyer in the fields of structured finance, securitisation, capital markets and corporate finance.
In my 25 years as a partner I lived and worked in Sydney, Melbourne, Hong Kong and London. After I retired from full time legal practice, I spent 2 years as a non executive director of an international company focussed on assisting governments and employers design and deliver services.
The combination of my decades of experience as an international lawyer and my previous role as a non-executive director of an international company helps me add value to my role as Chair of Level.
“How refreshing to be able to deal with an organisation which is legally savvy, open-minded, unstuffy and user-friendly. With a family lawyer in the team, Level understands the needs of family practitioners and their clients and is willing to help with the minimum of fuss for the maximum benefit to all concerned”
Jeremy Levison Partner at Levison Meltzer Pigott
“Level echoes the first class, bespoke service offered by the elite family firms. With a personal touch and excellent service, they understand the complexities of cases from only an initial call and give swift decisions, which delights practitioners and clients alike.”
Rosie Schumm Partner at Forsters LLP
“Level is a cut above its competitors, offering an excellent product and demonstrating an in- depth understanding of the unique challenges faced by family-law clients. Level is sensitive to those key issues as well as being highly efficient in the delivery of its service”
Anne Kay Partner at Vaitilingam Kay
“Level are delight to deal with. They offer a very swift turn around on decisions, fair rates and an imaginative and bespoke approach to lending providing a high level of support to solicitors and clients, particularly in complex cases.”
Toby Yerburgh Partner at Collyer Bristow
“Level’s insight and understanding of the family law process enables them to make decisions really quickly at a time when emotions and anxieties are often running extremely high. The bespoke service they offer is something unique in this market and it adds real value to our clients.”
Helen Greenfield Director at Family Law In Partnership
“Level are a great team with a firm understanding of the family law marketplace in London and beyond”
James Stewart Partner at Penningtons Manches LLP
For further information on any aspect of our services, please contact us
