Service charge loans
You can apply for a service charge loan to cover the cost of major works bills. The loan is a mortgage on the property and can be repaid over up to 25 years.
We’ll charge interest on the loan. We’ll also charge an application fee of £566.50 if you don’t already have a service charge loan, or £345 if you already have a service charge loan which is still to be fully repaid.
When we get your application, we’ll send you an information pack, including a quote. The quote will give details of the available periods, interest rate, and repayments.
Paying a service charge loan
The easiest way to pay your service charge loan is by standing order. A standing order form will be included with the information sent out to you.
You can also make payment by direct bank transfer using these details:
- Bank: NatWest
- For the credit of: London Borough of Southwark
- Sort code: 51-50-03
- Account no: 27540006
- Fund: Main Account
Please use your loan account number as a reference number. You should allow at least three working days for a payment to reach your account.
Get a loan statement, redemption statement or balance
Page last updated: 29 March 2018