Purpose

The initial approval to
introduce the fee charge was made by
Cabinet on 27/6/23.
 
Cabinet approved the
introduction of the following fee:
 

 

Original Fee agreed at Cabinet -
27/6/23

Initial Sale

£348.73

Resale

£394.79

Historic s.106
(note – this is stipulated in S106 agreements
at £250 so figure remains)

£250.00

 
As part of the decision it
states:
“That approval
be given to the fee charging proposals as set out at Appendix 2 of
the report.”
Appendix 2 para 19
states “Fees and charges must be reviewed at least once per
annum. Service Directors have authority to implement new charges
and amend existing fees and charges to achieve budget targets, to
account for changes in legislation and market conditions, in
consultation with the appropriate Strategic Director, relevant
Portfolio Holder and Chief Finance Officer.
 

Content

As part of the yearly
review we have made an increase to the fee to reflect the increase
in hourly payscale rates for the relevant administration hours for
both Housing Growth and Legal staff involved.
We have had assistance from
officers in Finance to prepare the cost schedule and calculate the
amended “Uplift fee” figures to reflect the increased
staff costs. As part of this we have also proposed rounding the
figures down to the nearest whole number “New Proposed
Fee” to make it easier in the request to the
developer/seller/buyer and when transferring money between legal
and Housing Growth to avoid accounting errors.
 
The fee will be increased as
follows:
 

 

Original Fee agreed at Cabinet -
27/6/23

Uplift Fee

June 2024

New Proposed Fee

June 2024

Initial Sale

£348.73

£379.24

£379

Resale

£394.79

£428.30

£428

Historic s.106
(note – this is stipulated in agreements at
£250 so figure remains)

£250.00

£250.00

£250