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.
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 repayment immediately.
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.