Major works for leaseholders

We have a choice of payment options for leaseholders to help them pay for major works. These include:

• 2.5% Prompt Payment Discount. To get this discount, you must pay the invoice in full within six weeks of the invoice date.
• 12 month interest free period. To qualify for this plan, the invoice must be for less than £3000. You will need to clear the debt by paying 12 equal monthly instalments by Direct Debit.

To apply, contact our leaseholders service team. You will need to do this as soon as you receive your invoice.

Contact us about a discretionary payment plan

Leaseholders need to submit a written application within 30 days of the invoice. They need to state their preferred loan choice.

We will refer the leaseholder to one of our partners. The partner will check to see if they can afford the plan. All repayments of the loan must be in equal instalments by Direct Debit.

The loans are like mortgages. This means that until the debt is paid, we will place a charge on the property. It will be as security for the loan.

The leaseholder will need to pay for a valuation on the property. They will also need to pay for other costs. These costs are for arranging the loan and placing a charge on the property.

Fees may be added to the amount of the loan at our discretion. Examples include:

• legal services fees
• Land registry fees
• administration costs.

Interest will be calculated and charged on all loans. This happens as soon as the interest free period ends.

We may offer the following loan repayment terms:

• 24 months extended interest free. For loan amounts of no less than £3001.00 and no more than £6000.
• 36 months extended interest free. For loan amounts of no less than £6001.00 and no more than £9000.00.  
• 48 months extended interest free. For loan amounts of no less than £9001.00 and no more than £12000.00.
• For loans above £12,001.00, or loans that cannot be paid off in 48-months, we may offer a 60-month repayment plan. This would be based on a 48-month interest free period. It will then start to incur interest charges from month 49 onwards. This will attract interest at the our borrowing rate plus X%. (The amount is variable and is reviewed each year).

If you cannot pay off the invoice within five years, you can ask your bank or mortgage lender for help. 

To apply, contact our leaseholders service team. You will need to do this as soon as you receive your invoice.

Contact us about a discretionary loan

You can apply for a voluntary charge if you cannot pay through any of the loan options. We may consider placing a voluntary charge on your home as security for the debt.

We must be sure the property has enough equity. We need enough to place the charge against it until it is sold. For the leaseholder this means:

• The amount borrowed and interest charged will be held as a charge on the property. The charge will become payable to us at the point the lease is assigned, and the property is sold.
• If you can pay the interest on the debt, you can pay it monthly. Only the amount borrowed will be held as a charge on the property. When the property is sold and the lease reassigned, you must repay the principal amount borrowed in full.

To try and prevent undue hardship, we may apply our discretion. We may allow a leaseholder to use a combination of the above methods.

To apply, contact our leaseholders service team. You will need to do this as soon as you receive your invoice.

Contact us about a voluntary charge plan

We must maintain the building's structure and exterior under the lease's terms. Your block may not have been refurbished in many years. The works would make the block look better.

This is the statutory notice which we need to serve. It advises you of our intention to carry out works to your block. It will outline what works we intend to carry out and the reasons why they are necessary. It will also state if you have the right to nominate a contractor.

Yes, as per the terms and conditions of your lease. You will be contributing towards communal works. We recharge any work done to specific properties to that property.

Yes, we will consider your requests where appropriate. The Project Manager or Leasehold Services Team will write to you. They will confirm any changes where ever possible. 

You can nominate a contractor to tender for these works. They will have to complete a pre-qualifying questionnaire. For a copy, contact the Leasehold Services Team.

After the Notice of Intention consultation ends, our Planned Delivery Team will put the works out to tender. We will then send you a Notice of Proposal. It will tell you the estimated charges for the works. We will share the payment methods available when we invoice you.

This is the statutory notice which we need to serve. It advises you of our intention to carry out works to your block. It will outline what works we intend to carry out and the reasons why they are necessary. It will also outline your estimated charges for the work.

You can pay for these works online.

Contingencies are charges set aside for emergency works. If the amount is not used it will be removed or adjusted from the final account.

The management fee is based on the cost of the procurement time. This is the time spent by our Planned Delivery and Leasehold Services Team. It is also made up of the project management of the works.

After the consultation ends, our Investment Team will award the contract. We will send notification letters to residents. The letters will tell them when the works will begin

This is the statutory optional notice which we serve informing you of:

• the contractor we have selected to carry out the work detailed in the Notice of Intention,
• the date when the contractor will start work
• any reason(s) why we did not select the lowest tender.

We will tell you in the Notice of Reason where you can see any written observations we received. They are about the tender estimates (Notice of Proposal) and our response.