Published date: 23 August 2018

Awarded contract - This means that the contract has been awarded to a supplier.


Closing: 1 June 2018

Contract summary

Industry

  • Financial and insurance services - 66000000

  • Loan brokerage services - 66190000

Location of contract

SG1 1HN

Value of contract

£40,000 to £750,000

Procurement reference

CCD00491 - AWARD

Published date

23 August 2018

Closing date

1 June 2018

Contract start date

1 September 2018

Contract end date

31 August 2043

Contract type

Service contract

Procedure type

Not specified

Contract is suitable for SMEs?

Yes

Contract is suitable for VCSEs?

No

Description

Stevenage Borough Council are currently seeking tenders for the provision of a Secured Loan Service.

Stevenage Borough Council is shortly to embark upon a Major Refurbishment Programme of approximately 540 blocks of flats across Stevenage. The programme will run over a five year period. Most residents rent their home but approximately 1000 of them are leaseholders, having purchased their flats under the Right to Buy. These leaseholders will need to pay their contribution towards the cost of refurbishment to their blocks. Many will pay by arranging personal financial solutions, but for some residents this may not be an option, due to age, financial circumstances, etc. To assist these customers, Stevenage Borough Council will be offering loans secured by a charge on their property. The number of loans which will be made is unknown but could potentially range from 1 to 100+.

Whilst the loan funds will be made available by the council (note that no funds will physically transfer to a leaseholder as the council would already have paid for the works - this is simply the repayment period the council is allowing for the leaseholder to reimburse these costs) we wish to fully outsource the entire administrative process for the loans from a customer's first contact to the final settlement of their loan. This will include, amongst other things, the application process, risk assessment of the borrower, loan set up, registering of the charge, payments, arrears collection, loan redemption, all administration and day to day processing related to the loans, to an external company. It is essential that this company will be FCA regulated and fully compliant with General Data Protection Regulations (GDPR).

Please note the deadline for returns and allow sufficient time to make your return as late returns will not be permitted.
Any questions relating to this quote should be made via correspondence on the website and can be addressed to the main contact as shown in the details above.

Award information

Awarded date

16 July 2018

Contract start date

1 September 2018

Contract end date

31 August 2043

Total value of contract

£260,900

This contract was awarded to 1 supplier.

Gemini Consultants Ltd

Address

AW House, 6-8 Stuart Street, Luton, Bedfordshire, United Kingdom, LU1 2SJ

Reference

None

Supplier is SME?

No

Supplier is VCSE?

No

About the buyer

Contact name

Kirsten Brown (SBC)

Address

Danestrete
Stevenage
Hertfordshire
SG1 1HN
United Kingdom

Telephone

01438 242775

Email

kirsten.brown@stevenage.gov.uk