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 will 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
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.
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 and interest) or find out the current balance.
If you have paid off your service charge loan, but paid too much, please use this form to ask for a refund.
Any other enquiries about your loan
Page last updated: 13 August 2019