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Clients: Civil litigation

Application process

    What is the loan application process?

    The first step is a conversation with your solicitor to understand the funding options available to you. If you choose to go ahead with a Novitas loan, your solicitor will arrange insurance, complete and submit an application.

    It can take up to three weeks to get the loan in place. It may take longer if queries arise from your application or credit search

    If your loan is approved, you will need to sign and return the loan agreement documentation. This can be done via electronic signature or you can request a home visit. 

    Once we have received all of the documentation there is a 14-day statutory cooling off period during which you can change your mind about continuing with the loan. Thereafter your solicitor can make requests to draw funds from your loan.
     

    Can I apply for a loan if I am acting for myself?

    No. Your solicitor accepts obligations to Novitas, so you need to be represented to use our loan service. If you subsequently choose to act for yourself, you will be in breach of the loan agreement and will need to make the repayment of the loan immediately.

    What credit checks do you do?

    We carry out a standard credit check as part of your application, known as a soft check, which does not affect your credit score. If you have a County Court Judgment (CCJ) or an Individual Voluntary Agreement (IVA) we are unlikely to lend, but please consult your solicitor.

    What documents will I need to sign?

    You will need to sign the following:

    • Consumer Credit Act regulated loan agreement
    • Adequate Explanations document, which contains the information you need to be aware of when entering a finance agreement
    • Instruction letter by which you provide the necessary instructions to your solicitor
    • Deed of Assignment over proceeds of settlement so any lump sum payments are used to pay off the loan before the remainder is passed to you.

    Do I need to provide security for the loan?

    You will need to sign a ‘Deed of Assignment’, which means Novitas is repaid from the proceeds of any settlement you receive before the remainder is passed to you.