20. Annex C
Charges for interim funding and interest rates
Annual interest rates on Interim Funding
| Period | Interest Rate (yearly rates, charged daily) |
|---|---|
| 1 January 2018 to 30 June 2018 | 1.45% |
| 1 July 2018 to 31 December 2018 | 1.85% |
| 1 January 2019 to 30 June 2019 | 1.65% |
| 1 July 2019 to 31 December 2019 | 1.65% |
| 1 January 2020 to 30 June 2020 | 1.45% |
| 1 July 2020 to 31 December 2020 | 1.05% |
| 1 January 2021 to 30 June 2021 | 0.45% |
| 1 July 2021 to 31 December 2021 | 0.75% |
| 1 January 2022 to 30 June 2022 | 0.95% |
| 1 July 2022 to 31 December 2022 | 1.55% |
| 1 January 2023 to 30 June 2023 | 3.18% |
| 1 July 2023 to 31 December 2023 | 3.43% |
| 1 January 2024 to 30 June 2024 | 4.65% |
| 1 July 2024 to 31 December 2024 | 4.05% |
| 1 January 2025 to 30 June 2025 | 4.25% |
| 1 July 2025 to 31 December 2025 | 4.75% |
Charges
| Type of charge | Cost |
|---|---|
| Formal valuation | At cost (+ VAT if applicable) |
| Review of debt and interim statement | £105.00 (+ VAT if applicable) |
| Costs of any specialist legal and/or financial advice obtained by the Council (if required) – the Council will provide an estimate in advance. | At cost (+ VAT if applicable) |
- Value Added Tax (VAT) – the legal and administrative costs quoted above are exclusive of VAT. VAT will be charged if applicable. DPA’s which meet the national mandatory DPA requirements to be secured by a first legal charge are not currently subject to VAT.
- VAT does not currently apply to Land Registry statutory fees. Land Registry fess are set and reviewed by the Land Registry and subject to change.
- The charge for review of the debt and interim statement will be increased annually in April line with CPIH.