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NIHL

Funding for NIHL case acquisition and WIP release

Novitas will provide a fixed sum to help law firms acquire new NIHL cases and to release WIP tied-up in existing cases to help improve general cash-flow. The amount of the fixed sum will increase as the case progresses.

 

The initial loan will be for £650 against a successful audio through to £1,700 when the case is ready to issue. Once the case has settled, it can move onto Cost Advance for further advance.  The law firm services the interest monthly and security on the firm is required.

Key benefits

  • Improved cash-flow - money paid straight to law firm account
  • Simple administration - on-line system; just select case and the amount to draw
  • Fast payment - money received within 72 hrs from request
  • Flexible - funding provided as a facility, draw down on a client by client basis
  • Simple commercials – fixed admin fee per case, interest taken monthly

Novitas lending products for law firms are fully integrated, so you can take more borrowing as the case develops. For example, in the graphic below NIHL borrowing flips over into Cost Advance, as the case settles.