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Solicitors: Contentious probate

Settlement

    Can the client repay the loan early?

    Yes. There are no penalties for paying the loan off early. We calculate interest daily so the shorter the time they have the loan, the less they will pay in interest. Note that the loan is not a revolving credit facility.

    Can the client pay off the loan in instalments?

    No, the loan needs to be settled in a single payment once the case has been settled. 

    Can Novitas ask for repayment at any time?

    Any breaches of the loan agreement by the client can result in Novitas calling-in the loan and requiring full repayment of the loan and any interest owing. This can include dis-instructing you as their solicitor without agreement from Novitas or failing to follow advice from their solicitor which impacts our prospects of recovering our funds from the anticipated financial settlement.