Major Works Repayment Options
Decision Maker: Cabinet Member for Housing
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
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