Decision details
New Repayment Framework for Major Works billing for Leaseholders in Brent
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
A decision to review leaseholder repayment options.
Decision:
Cabinet RESOLVED:
1) To extend the interest free periods in respect of major works for resident leaseholders from 2 years (currently) to 5 years.
2) To agree the repayment offer as set out in section 8 of the report.
3) To promote the option to all resident leaseholders (in those blocks scheduled for major works as set out in 5.1 of the report) for the Council to ‘Buy Back’ their home at market value (reduced to 75% of market value, if they choose to become secure tenants), and for non-resident leaseholders of those same blocks to have the option for the Council to buy back their leasehold property at 100% of the market value.
Reason Key: Affects more than 2 wards;
Wards Affected: (All Wards);
Contact: Kate Daine, Head of Housing and Neighbourhoods Email: Kate.Daine@brent.gov.uk.
Report author: Kate Daine
Publication date: 07/02/2023
Date of decision: 06/02/2023
Decided at meeting: 06/02/2023 - Cabinet
Effective from: 14/02/2023
Accompanying Documents:
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