Your Homes Newcastle has a number of different payment options available to leaseholders to allow you to spread the cost of paying for major works.

Before any major works are carried out to your property you will be sent a letter detailing the works that are required and what we expect your share of the costs of this to be. Upon completion of the works the final costs are worked out and an invoice is issued. This could be up to 18 months after the work has completed.

When your invoice is issued we will also include information on the loans that we have in place to help you to spread the cost of your major work. Upon receipt of your invoice if you wish to apply for one of the options available you will need to contact us for an application form and this must be completed and returned to us within 6 weeks. Your application will then be assessed and if you qualify for the loan we will write to you with further details. You then have 4 weeks to accept the loan offer. If you do not accept within the 4 week period your right to a major work loan will cease.

Our loan options will involve a legal charge being placed against your property.

We would advise you to seek your own independent financial advice before entering into any payment agreements.

If you take one of our loan options but decide to sell your property before the end of the loan term you will be required to clear the balance of your loan before completion of the sale.

Loan criteria for customers (Word doc)