Decision details

Purpose of report: Approval that the Council commit to the scheme.

Members are asked to: Approve signing up to the scheme.

RESOLVED: (i)         That Option 1 be approved and that Wakefield Metropolitan District Council be nominated to act as the administrative body and banker for the scheme.

                        (ii)        That the draft policy at Annex 1 to the report be approved.

                        (iii)       That Wakefield Metropolitan District Council be allowed to discharge the following functions for City of York under the provisions of the Local Government Act 2000 and the Local Authorities (Arrangement for the Discharge of Functions) (England) Regulations 2000, in accordance with the authority’s well-being powers under Section 2 of the Local Government Act 200:

·        Offering loans to the owners of properties who are in mortgage difficulties

·        Agreeing regional arrangements for deciding whether the amount of the loan to be paid on redemption of the mortgage should be deferred or repaid in instalments, or waived in whole or in part.

                        (iv)       That the policy to provide loan support to cover the costs of setting up the loan be approved.

REASON:      To enable the Council to participate in a regional scheme which will assist homeowners in difficulty with their mortgage or secured loan repayment and will provide another option for the Council in tackling house repossession and, ultimately, homelessness.

Note: Cllr Moore, having declared a prejudicial interest in the above item, left the meeting during consideration of the item and took no part in the discussion or decision thereon.