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We describe a natural basis of the Cartier class group of an arbitrary Schubert variety $X_{w,P}$ in a flag variety $G/P$ of general Lie type. We then characterise when the Schubert variety is factorial/Fano, along with an explicit formula for the anticanonical line bundle in these cases. We also prove that, for Schubert varieties in simply-laced types (only), being factorial is equivalent to being $Q$-factorial, and is equivalent to the equality of the Betti numbers $b_2(X_{w,P})=b_{2\ell(w)-2}(X_{w,P})$. Finally, we give a convenient characterisation of when a simply-laced Schubert variety is Gorenstein and when it is Gorenstein Fano.