Issue - decisions
New Repayment Framework for Major Works billing for Leaseholders in Brent
07/02/2023 - New Repayment Framework for Major Works billing for Leaseholders in Brent
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.