Decision details

Major Works Repayment Options

Decision Maker: Cabinet Member for Housing

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Decision:

1.         To restructure the existing system of service charge loans to incorporate a number of interest free or mixed interest free and interest bearing options. Specifically, this report proposes 3, 4 and 5 year interest free options for resident leaseholders, depending on the invoice value, with a variety of longer term mixed interest free / interest bearing loans for larger invoices.

 

2.         To offer a ‘prompt payment’ discount on major works invoices of 5% when paid within 6 weeks of receipt.

 

Publication date: 30/07/2019

Date of decision: 07/08/2019

Effective from: 15/08/2019

Accompanying Documents: