STAND NUMBER: 742
Novitas Loans provides lending solutions for legal fees and disbursements designed to improve solicitor cash-flow and provide individuals with access to legal services. Novitas can fund financial proceedings, children matters, and TOLATA whether using a court process, arbitration, collaborative process or mediation. Loans can be secured or unsecured and are not serviced, so the client does not make any payments until the end. The loan is provided as a facility, the solicitor draws down funds as and when needed, and interest is only charged on drawn funds, providing fast and efficient lending. There is a single agreement put in place between the solicitor and Novitas; this covers all loans that Novitas provides to the law firm clients. There is no financial undertaking from the law firm, Novitas takes all of the lending risk. Lending decisions are taken on a case by case basis and no cap is put on the amount a firm can borrow. Novitas is the leading provider of legal fee funding for family proceedings, owned by an A rated FTSE 250 merchant bank with a commitment to supporting the legal sector, and used by over 700 firms of family solicitors across the whole of the United Kingdom.
0333 321 6070