London Borough of Croydon

Q1. Can I use my own contractors for the work?
No. You must use contractors approved by Croydon Council. We will arrange for the relevant contractors to tender for the work required.

Q2. If I have a contribution to make towards the works how do I pay this?
We will inform the contractor(s) that there is a contribution to pay towards the work from the client. This would need to be paid directly to the contractor. They will discuss payment arrangements with you prior to work commencing.

Q3. What if I discover more work that needs doing after the surveyor’s initial visit, or later on in the process?
Please contact us to discuss this and we can see if this can be added onto the loan subject to the required work meeting the conditions, and having available funds to cover this.

Q4. What rate of interest is charged on the loans?

The loans are interest free. 

Q5. How do I repay the loan?
The loan is registered as a local land charge against the property. You can repay the loan at any time, but generally it will be repaid when the property is sold, or there is a change of ownership. The loan must be repaid in full. Your solicitor will usually take care of this.

Q6. Can I repay the loans in instalments?
A. It is not possible to pay back the loan in instalments. It must be repaid as one lump sum

Q7. What does the fee charge cover?
The fees cover all inspections and visits from surveyors, administration of all loan paperwork, dealing with the tendering process for the works and case management.