Major Works Repayment FAQs

Yes, you can begin making payments to your leasehold account. We’ll transfer the money you’ve paid towards the cost of the major works once the final amount is known.

We recommend you begin paying or setting money aside before you receive your bill.

We want to make your repayments as affordable as possible. It’s why we’ll need to run an affordability check for an FCA agreement to be agreed. This check is a legislative requirement and must be carried out.

This allows us to make sure you’re able to pay back the amount proposed and the agreement is sustainable for you.

We’ll need you to provide the following information to support your application:

• A financial statement detailing your income and expenditure. This must include all existing balances and repayment amounts for other outstanding borrowing. This statement must be completed with support from a third party, such as StepChange or Citizens Advice to ensure accuracy
• Three months of bank statements for all accounts held to show your financial position
• How much you wish to pay towards the balance and how frequently.

We’ll use this information to ensure you’ve sufficient funds to cover your repayment amount, once all other living expenses have been accounted for.

Please note, if there’s more than one named person on the lease, they will also need to provide all the above information when submitting the application. We won’t be able to consider you for a repayment agreement if the necessary documentation isn’t provided. You’ll then be required to pay any outstanding bill in full.

You can submit your documents via email or post, whichever is easiest for you.

We’ll begin the review process once all documents are received. This usually takes up to ten working days.

We’ll be in touch with a credit agreement for you to sign and return. Your agreement is in place when we’ve received a signed copy.

For agreements longer than 12 months you must pay via Direct Debit.

We’ll be in touch to let you know if your agreement application is declined and discuss other available options for you.

Remember, there’s always support and advice at hand from charities such as StepChange who will be able to provide tailored support on your financial situation.