www.novitasloans.co.uk Divorce loan

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  • #19236 Report



    Could anyone who had good or bad experience with this company Novitas comment please. Thank you.

    I am preparing to come out of  Domestic Abuse marriage and have the support of Steppingstones. I have no extra funds or saving, except the equity in our house. I don’t quality for Legal Aid. The overall cost for a divorce process would be £15,000, which could take 1 1/2 – 2 years. One option is through Novitas, however when looking further into it has mixed reviews.

    I am desperate to come out of this with my children  but equally don’t want to be exploited by another.

    If any Gingerbread staff could also  comment I’d be grateful.


    #48915 Report


    Hi Blueberry,  Did you go ahead with the loan with Novitas?  I had one of these, the Solicitors claimed I’d only need it for 4 months, in the end it was over 4 years, they spent out the first loan and came back for more and more and more,  they misrepresented my assets, and Novitas didn’t bother checking, with me, or with anyone, they didn’t even check the value of the house the loan was secured against.  These loans are a really bad thing, interest is way too high, the solicitors treat them as a piggy bank and worse, however badly your solicitors represent you, if they are lazy, or dishonest or just don’t do what they say they will do, you are stuck with them under the terms of the loan (which is actually against the law, but they believe they are above the law). I’ve had a number of other people with these loans contact me, one is bankrupt, the other facing bankruptcy as a result.  There’s a Solicitors Regulation Authority Investigation into the practises of solicitors pressuring their clients into taking this sort of lending.  If you were persuaded to take one of these loans and its gone badly wrong then let me know and I will find a way to get the information to you about who to complain to and what information they need.

    #48928 Report


    Hi, Blueberry the best way to save yourself tens of thousands of pounds potentially is to attempt mediation or have someone neutral try and help you and your ex partner come to an agreement. Sometimes you can end up worse off fighting each other in court lining solicitors and barristers pockets especially if it ends up been very hostile and basically a war. A lot of solicitors although not all thrive on couples fighting over what they are entitled too and more equity the better for them.

Viewing 3 posts - 1 through 3 (of 3 total)

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