Ways to pay major works costs

Some major works costs can be high, so we offer more ways to pay than for other service charges.

You can pay as shown in your lease and make payments quarterly in advance on 1 April, 1 July, 1 October and 1 January, but we also offer these payment methods:

  • you can pay in 12 equal monthly instalments, interest-free.

  • if you're a resident leaseholder, you can also pay in instalments over any period between 12 and 36 months interest free. You'll need to complete an extended interest free agreement form, which is sent with your major works invoice. If you miss a payment, you'll immediately have to pay the whole of the outstanding debt, and interest will be added until the balance is paid. The interest charged will be as stated in your lease (5% above NatWest base rate).

 Request a major works payment plan   

Service charge loans

You can also apply to us for a service charge loan. This is a mortgage on the property and can be repaid gradually over an agreed time period. We’ll charge interest and an arrangement fee to cover our legal, valuation, and administrative costs.

Before you apply

You should first contact other lenders such as your mortgage company to see if they can offer you a loan. They might even be cheaper.

Page last updated: 14 February 2019