Issue - decisions
Major works payment options review 1028714
18/07/2024 - Major works payment options review
RECOMMENDATIONS:
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
DECISIONS
AGREED RECOMMENDATIONS
Reasons for the decision – as detailed in the report
Other options considered – as detailed in the report
Conflicts of interest / dispensations granted – none