Decision - Extending Payment Options for Council Leaseholders
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Decision details
Extending Payment Options for Council Leaseholders
Decision Maker: Housing Cabinet Member Meeting
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
Purpose:
A report recommending that Brighton & Hove
City Council offers additional payment options in the form of
equity loans, maturity loans and long term loans to council
leaseholders in financial difficulty with high major works
charges.
Decision:
(1) That the Cabinet Member for Housing agrees the following proposals for leaseholders in residence be agreed, throughout the term of the loan or arrangement only:
(a) Brighton & Hove City Council offers additional payment options in the form of equity loans, maturity loans and monthly repayment loans over 25 years to leaseholders who are in financial difficulty and struggling to pay high major works bills as outlined in the report.
(b) The council increases the interest-free repayment limit from 12 months to a sliding scale depending on the amount with a maximum of 5 years. (See table at 3.14 of the report).
(c) The specific criteria to be met when offering these additional loans will be agreed by the Head of Housing & Social Inclusion and the Chief Finance Officer in consultation with the Cabinet Member.
Report author: Dave Arthur
Publication date: 18/04/2012
Date of decision: 18/04/2012
Decided at meeting: 18/04/2012 - Housing Cabinet Member Meeting
Effective from: 26/04/2012
Accompanying Documents:
PDF 89 KB