Purpose

To consider the closure of the FHIL company
and proposed succession arrangements (a consortium of 17 local
authorities) to ensure the ongoing availability of home improvement
loans.

Content

1.         That the
local authority members form a consortium outside of Flexible Home
Improvement Loans Limited (FHIL), so it collectively retains
control over the loan scheme funds.

2.         That the
commencement of a procurement exercise for a FCA regulated provider
to undertake loan administration services for the consortium, be
approved.

3.         That
FHIL be wound down once the assets have been transferred with the
appropriate safeguards.

4.         That
authority be delegated to the Director of Customer and Community
Services, in consultation with the Cabinet member for Housing, to
finalise the arrangements for the creation of the consortium and
associated workstreams to implement the above
recommendations.