Major works payment options review

July 18, 2024 Executive (Other) Key decision Approved View on council website

This summary is generated by AI from the council’s published record and supporting documents. Check the full council record and source link before relying on it.

Summary

...to approve offering more flexible payment options for major works, including interest-free 5-year plans, reduced thresholds for 10-year plans, and extended terms up to 25 years for qualifying resident leaseholders.

Full council record
Content

 
 
 
 
 
2.1. To offer a 5-year, interest-free option to both resident
and non-resident leaseholders.
2.2. To reduce the threshold for 10-year payment plans from
£10k to £6k, making bills more affordable for resident
leaseholders.
2.3. To introduce a longer payment term of up to 25 years for
resident leaseholders with invoices of at least £15k.
2.4. To continue offering voluntary charges for bills of at
least £3k to resident leaseholders who are elderly or
vulnerable or can’t afford any other payment option
 
 
 
AGREED RECOMMENDATIONS
 
– as detailed in the report
– as detailed in the report
– none
 

Supporting Documents

Leaseholders major works payment options 002.pdf
LeaseholdersAppendix 3 Equality Impact Assessment.pdf

Details

OutcomeRecommendations Approved
Decision date18 Jul 2024
Subject to call-inYes