Introducing "EquityAssist" -
a fast, simple and equitable funding solution for everyday separations.
EquityAssist is JustFund’s new solution to assist clients who need legal representation but have a relatively small relationship property pool. This innovation will significantly increase the number of clients we, and our law firm partners, are able to assist during separation. Built on a simplified assessment process that is focused on net equity in real property, EquityAssist makes funding more accessible for more people than ever before.
How EquityAssist works?
Most separations in Australia resolve without requiring large amounts of funding. EquityAssist is designed to provide an accessible funding solution for individuals that may only require a relatively small amount of funding to deal with their relationship property.
The key features of the ‘EquityAssist’ loan includes:
✔ Certainty & Clarity – Funding for legal fees and related costs for up to a maximum of $25,000.
✔ Simplified Eligibility – EquityAssist’s straightforward eligibility criteria is focused primarily on the value of the net equity in real property.
✔ Registered Property Security – Related to the streamlined eligibility assessment, your EquityAssist loan is secured with a caveat or mortgage on the property you own.
✔ Repayment at Settlement – Repayment occurs when your matter settles or the secured property is sold or transferred (including on an interim basis).
✔ Designed for Everyday Australians – Created to support the large majority of people going through separation who are on title and would benefit from access to a relatively small amount of funding.
What expenses are covered by EquityAssist?
EquityAssist is designed to help you cover the essential costs of securing legal representation and managing an efficient separation, including:
- Legal advice and representation
- Mediation and negotiation costs
- Legal-related disbursements
Helping law firms to help more clients
EquityAssist opens the door for even more of your clients to access the funding they need to resolve their settlement with confidence and dignity. By enabling clients to secure funding earlier, EquityAssist reflects JustFund’s commitment to helping your firm grow, support more clients and deliver practical, client-centred solutions. We also want to enable funding to be easier and faster to approve.
Important Conditions
EquityAssist is designed to be simple and predictable. To make sure you have full clarity on the specific features of this type of funding, there are a few important conditions to understand as follows:
Real property security
An EquityAssist line of credit must be secured by a caveat or mortgage registered on real property (either owned by the client or jointly with their former partner). Property security is a core feature of how EquityAssist works and is essential to managing the risk of funding against relatively low value relationship property pools.
Maximum Funding Amount
An EquityAssist line of credit has a maximum limit of $25,000. Clients can apply for less if they wish to and JustFund may only be able to approve a lower amount depending on the client’s property pool and circumstances at the time of our assessment.
Repayment at interim sale of property.
EquityAssist relies on real property as the primary form of security. If the secured property is sold before a client’s matter reaches final settlement, the process from that sale must be used to repay the EquityAssist balance and the client’s account with JustFund will be closed. The EquityAssist Client Funding Agreement and Irrecovable Letter of Instructions provide that the client cannot agree or consent to an interum sales unless JustFund is repaid. This ensures the funding arrangement remains fair, predictable and sustainable for all clients.
If you have further questions, speak with our team to find out more and whether an EquityAssist line of credit is right for your client.
FAQ's
When might my client be considered for an EquityAssist line of credit? EquityAssist has been designed to expand eligibility for funding to even more of your clients. If a client is not eligible for a standard JustFund line of credit due to having a relatively smaller relationship property pool, they will be considered for EquityAssist if it is right for their circumstances.
How does EquityAssist differ from a standard JustFund line of credit? EquityAssist is designed for clients who need a smaller amount of funding and who have smaller relationship property pools. It is different because EquityAssist provides support capped at $25,000 for legal fees only (not living expenses), with eligibility determined primarily by the client’s net equity in real property rather than a full legal-merit assessment. An EquityAssist line of credit must be secured by a caveat or mortgage registered on real property (either owned by the client or jointly with their former partner). If the secured property is sold before a client’s matter reaches final settlement, the proceeds from that sale must be used to repay the EquityAssist balance.
Does EquityAssist have different pricing to a standard JustFund line of credit? No. The pricing is the same.
Do my clients apply as normal or is the application process for EquityAssist? different? Clients apply as normal. If they do not qualify for a standard JustFund line of credit, JustFund’s team will automatically assess them for an EquityAssist line of credit if they appear eligible.
Can EquityAssist be used to cover living expenses? No. EquityAssist is for the purpose of supporting people to obtain legal representation and to cover legal and other associated disbursements or fees.
Does my client need to be on title to access EquityAssist? Yes. This is because an EquityAssist line of credit must be secured by a caveat or mortgage registered on real property that is either owned by the client or jointly with their former partne
If you’re navigating a separation and need support accessing the funds required to progress your matter, EquityAssist may be the solution.
Apply now or speak with our team to find out if an EquityAssist loan is right for you or your client.
