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Clients: Clinical negligence

Application process

    What is the loan application process?

    The first step is a conversation with your solicitor to see if the loan is appropriate for your circumstances. If you choose to go ahead, your solicitor will complete and submit an online application and you will receive an email from us to approve it. 

    At what stage can I apply for a loan?

    You can apply for a loan at any stage.

    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 repayment immediately.

    Do I have to take independent legal advice?

    No. Once you have the agreement pack, we recommend that you take independent legal advice, however this is optional. Independent legal advice ensures you understand the loan and the implications if you do not repay it. You have the option to sign a waiver to confirm that you do not wish to receive such advice.

    How long will it take to get the loan in place?

    Once you have approved the submission made by your solicitor, it usually takes three to four weeks to get the loan in place. It may take longer if queries arise from your application or credit search.

    When we have approved your application, we send you our agreement pack for you to consider. If you wish to proceed, you’ll need to obtain independent legal advice on the documents and then sign and return the documents in the agreement pack, along with a letter confirming you have taken independent legal advice.

    Upon receipt of these, you have a 14-day cooling off period in which you can cancel the loan (in line with the Consumer Credit Act). Thereafter your solicitor can make requests to draw funds from your loan with your approval.

    What credit checks do you do?

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

    If after one year you do not use your Novitas loan, or you later require a loan extension, we will carry out a further credit check.

    What do I have to sign?

    You will need to sign the following:

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