The most common and most likely answer to this crossword clue is the 7 plus 3 plus 4 letter word DECLINE AND FALL
D
E
C
L
I
N
E
A
N
D
F
A
L
L
More clues leading to the result DECLINE AND FALL
Buddy explains!
The straight part
We know that "Novel" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case novel = decline and fall.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.