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How It Works

Schneider Financial Solutions has developed a simple process from start to finish. The 5 key stages of the process are:


    We will request that you complete a simple application form in conjunction with your solicitor. This will explain to us the key elements of your case, the stage of the process you are at, an indication of the settlement value, and the size of loan you are likely to require in order to reach settlement. We shall ask your solicitor to break this down into the key stages of your case.


    Once we have the above information we will assess your application together with appropriate credit and affordability checks and, if approved, we shall provide you with confirmation that we are willing to lend to you, a statutory pre-contract information document and a draft of the formal loan agreement. We shall provide you with this confirmation within 7 days of receiving your completed application form, unless we require further information to assess your case.


    You will be required to take independent legal advice on the loan documents, to ensure that you understand the loan and that it is appropriate for your needs. Once you are satisfied, and subject to any statutory reflection period, you may execute the loan agreement and send it to us to activate your loan. The loan agreement shall confirm that we intend, subject to ongoing approval, to provide the full finance required should your case go all the way to a final hearing. We will break the loan down into tranches corresponding to the key stages of your case. In this way you will only be charged interest on each tranche as and when it is activated, to ensure your interest costs are kept to a minimum. We only charge interest on the funds you require to reach the next key stage, and only expect repayment once your case has reached settlement. For further details please see a worked example.


    Once your loan is active, your solicitor shall provide us with copies of their invoices. Upon your approval of each invoice, the invoices will be settled directly by us from your loan balance. All interest is rolled up until you have reached settlement. Interest is calculated on a simple interest basis, unlike for instance credit cards which compound interest. We know that unanticipated costs can crop up at times, and as such we have built in a contingency of up to 20% of the value of the loan for each stage, which means that these costs can be covered quickly and easily without the requirement of additional paperwork. We do not charge anything for the provision of the contingency amounts unless they are utilised, at which point they attract the same fees and interest as the main loan.


    To repay the loan you will assign a proportion of your settlement sufficient to cover the loan and interest.  We will not take assignment over your entire settlement, only the amount required under your loan agreement.  The assigned proportion of the settlement will be paid directly to your solicitor, who will remit the funds to us to repay the loan amount plus interest, and (if applicable) any security that we have taken for the loan will be released.
  • Schneider Financial Solutions Limited is incorporated in England and Wales with company number 8668384.

    The registered office address is The Penthouse, Salisbury House, 29 Finsbury Circus, London EC2M 7AQ.

    Schneider Financial Solutions Limited is authorised and regulated by the Financial Conduct Authority (FRN 724278).