Borrowing Approval letter from MHCLG

Financial Information Uploaded on March 17, 2023

The Parish Council applied to the Secretary of State for approval to borrow money to pay for the new village hall. The approval was granted on 6 September 2018, as shown on the attached letter from the Ministry of Housing, Communities and Local Government.

The amount borrowed from the Public Works Loan Board, PWLB is less than the amount granted in the letter which states the parish council can borrow up to £466,000. The actual amount borrowed is £299,895 which is being paid back over a period of 50 years at an interest rate of 2.7%.