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 online application and you will receive an email from us to approve it.
Once you have approved the 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.
Once we have received all of the documentation, there is a 14-day no drawdown period. Thereafter your solicitor can make requests to draw funds from your loan.
If you change your mind about continuing with the loan, you will have 14 days to withdraw (loan up to £60,260) or 5 days to cancel (loan over £60,260) from the date of the Agreement.