Deferred payment agreements

How much can be deferred with one of these agreements?

The amount you can defer will depend on the value of your home. There is a limit of 75% of the value of your home – this limit on equity is to protect you from not having enough money to pay sale costs of the property like solicitor’s fees and to protect the Council against a drop in housing prices and the risk that we may not get all of the money back.

Are there any other costs?

The Council charges a set-up fee of £620 for a deferred payment agreement and an annual maintenance fee £90 per year. There is also an interest charge on the amount deferred. These fees and charges will be added to the amount due on sale of the property.