What is it?
Since the Access To Justice Act in 1999 the UK has seen the rapid growth of solicitors offering No Win, No Fee services. These require a level of cashflow funding beyond the reach of many legal firms who happily turn to specialist funders so that they can take on more cases and keep all their staff busy earning fees. Historically these cases have focused on road traffic accidents and property related matters, however a whole new category is emerging called Plevin cases based on the obscene levels of commissions paid within Payment Protection policies. There are more cases than funds to fight them in this rapidly growing market. The cases are short term in nature and multiple layers of security are in place to protect investor funds. The minimum investment is £10,000.
Who is the investment partner?
Woodville is a specialist consultancy that began funding cases in May 2019. Their current loan book consists of more than 10,000 cases with a value of over £18 million. Since inception they have funded over 12,000 cases and all completed cases have paid out as expected. They have developed key relationships with a number of groups of solicitors and with specialist expert witness companies involved in preparing Plevin cases. This guarantees a pipeline of cases for which they continue to raise funds from private investors.