Major works payments
Under the terms of your lease, you have to pay towards maintaining the common and structural parts of your building.
If this relates to a major part of the structure, the costs can be high, so we have a range of flexible repayment options.
When you get an invoice for major works, it is important to contact home ownership services to arrange a repayment option within 30 days of the date of that invoice. If you do not, your account will fall into arrears and you risk legal action being taken against you.
If you have any questions telephone the major works team on (020) 8825 7846.
Ways to pay
Pay by direct debit
Direct debit is a safe and easy way for you to pay. By setting up a direct debit you give us permission to take the money from your bank account on agreed dates.
Your bank will take the correct amount from your account each month and pay it directly to us. Your bank may charge for this service. If you have internet banking, you should be able to set up the standing order online.
Call 0300 4560545 24-hours-a-day, seven days a week to pay by credit or debit card.
We accept Mastercard or Visa credit cards, Visa debit cards, Delta or Maestro.
Internet or telephone banking
Contact your bank or access your online banking account and arrange to make a payment. You will need to give:
- Our bank account number: 02390175
- Our bank sort code: 30-00-00
- Reference number: (Your service charge account number)
- Our bank is: Lloyds Bank Plc.
You will need your payment card and your major works invoice rent account reference every time you make a payment.
You can let us know you have paid a major works invoice by sending a remittance document. Organisations use this when making bulk BACS payments to show the breakdown of payments for each account.
Refund or credit transfer
You can ask for your money back from a credit balance on your major works account.
You can also ask for credit to be transferred between your major works and service charge accounts.
1) Payment in full with 2.5% discount for prompt payment
Available to all leaseholders. However, you must pay your invoice within 30 calendar days of the date of the invoice.
2) 12-month interest-free repayment period
Available to all leaseholders. To qualify, you must email, write to us or return the payment questionnaire sent with your invoice within 30 calendar days of the date of the invoice and payment must be made in 12 equal instalments.
3) Statutory loan
This is a loan set out in law and is only available to leaseholders that bought their home under the Right to Buy scheme in the last 10 years. It is under set criteria and is repayable over a maximum of 10 years. Interest is chargeable for the term of the loan at a variable rate.
4) Discretionary loan
Only available to owner-occupiers. This option is similar to option 3, but you must not be eligible for the statutory loan and should not have any other means of repayment.
5) Extended interest-free repayment period
To apply for extended repayments, email, write to us or return the payment questionnaire sent with your invoice. We will work out how much you need to pay each month.
Only available to owner-occupiers. Invoice must have a value between £4,201–£6,300. Payment must be made in 18 equal instalments.
Only available to owner-occupiers. Invoice must have a value between £6,301–£8,400. Payment must be made in 24 equal instalments.
Only available to owner-occupiers. Invoice must have a value between £8,401–£10,500. Payment must be made in 30 equal instalments.
Only available to owner-occupiers. Invoice must be more than £10,501 in value. Payment must be made in 36 equal instalments.
6) Five-year repayment period (three years' interest-free with two years' interest)
Only available to owner-occupiers. Invoice must be more than £12,601 in value and is dependent on circumstance. The last two years' worth of interest is set at a variable rate.
7) Voluntary charge
Only available to owner-occupiers. You must be a vulnerable leaseholder who cannot access a bank or building society loan and should be unable to pay through other payment options. You must have enough equity in your property to place the charge against the property until it is sold. The charge will then become repayable with interest at the point of sale.
8) Voluntary charge plus
Only available to owner-occupiers. This option is the same as a voluntary charge except you can start paying the interest on the charge in monthly instalments before the property is sold.
9) Flexible option
Only available to owner-occupiers. A combination of some of the above options, depending on qualifying criteria.
10) Purchase of an equity share of the property
Only available to owner-occupiers. If your invoice is more than £10,000, you may ask the council to purchase an equitable interest in your home. This option is only available in cases of extreme hardship where all the other options have been considered and exhausted.