Council plans new Leaseholder Payment Scheme

Leasehold Issues

Updated: 03/03/2003

The Council plans to introduce a new scheme offering leaseholders a variety of methods by which they may pay their major works recharges.

The payment methods on offer will include cheap loans, legal charges on property, recharge capping, free financial advice and longer payment periods.

The most beneficial payment methods will be means tested to ensure that they are properly targeted at the least able but all leaseholders will be able to benefit from the proposed longer interest free payment periods of 24 months for recharges of up to £5,000 and 36 months for recharges above £5,000.

The Council/TMO will be writing to all leaseholders with details of the new payment scheme in the near future.