Novitas loans can fund the costs of legal disbursements of civil litigation cases.
Novitas Loans ceased approvals of lending to new customers.
We would like to thank you for your understanding and support through this transitional period. Should you wish to discuss this further, please contact us on 0333 321 6070.
Civil Litigation Funding Scheme
Our loans for civil litigation cases allow for funds to be paid as they occur, while still operating on a no-win, no-fee basis. The loans are backed by an ATE premium, funded from the client loan, so expenses are covered in the event the client's case is unsuccessful. It is recovered from the opponent in the case of a win.
The loan belongs to the client, not the solicitor, so it won’t appear on your balance sheet or have any debt implications for your firm.
Our civil litigation loan scheme is intermediated by our preferred legal cost firm partner and backed by A-rated insurers. To be considered for the scheme, firms are required to have multiple similar civil litigation cases at any one time. To apply for the scheme, Novitas will refer you to our preferred legal cost firm partner, who will submit an application on your behalf to Novitas and scheme partners for consideration.
CCA (Consumer Credit Act) client loans to pay third party disbursements
No personal guarantee or security needed from the law firm
Wide range of disbursements covered, including issue fees
Off-balance sheet funding for the law firm
Backed with ATE insurance; nothing for the client to pay in the event of a no-win