Service charge loans

If you can't pay your major works bill(s) and can't get a loan from anywhere else, you can apply to us for a service charge loan to cover the cost of the major works.

About our loans

  • the loan is a mortgage on the property
  • it'll be repaid over a prearranged time period
  • we'll charge interest on the loan - the interest rate will depend on the type of loan you have
  • there'll be an application fee which you can pay upfront or have it added to your loan
  • there'll be a redemption fee which you must pay before we close your loan

Get a quote for a sevice charge loan

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.

You can pay by bank transfer using these details:

  • Bank: NatWest
  • For the credit of: London Borough of Southwark
  • Sort code: 51-50-03
  • Account no: 27540006
  • Reference: ‘Your Loan Account number’ (starts with a V,D or R) followed by “Fund 2”

You should allow at least three working days for a payment to reach your account.

You can also pay online 

Get a loan statement, redemption statement or balance

You can request  a loan statement, a redemption balance (how much is needed to pay off your loan including fees & interest) or find out the current balance online.

Get a loan statement, redemption statement or balance

Page last updated: 16 October 2018