Issue details

Mortgage in Possession Clauses - Position Statement

The Council is seeking to put to Cabinet an advice note concerning the issue of the “mortgagee in possession” clause which is currently causing challenges in finalising S106 agreements where development financiers are requiring a deviation from policy to meet their risk appetite. The note seeks to advise Cabinet of a methodology to proceed with the negotiations while offering reasonable protection to future affordable housing stock. Any deviation from policy will need to go to the Planning Committee for a decision.

Decision type: Key

Reason Key: Affects 2 or more wards;

Decision status: Recommendations Approved

Notice of proposed decision first published: 29/09/2020

Decision due: 5 Nov 2020 by Cabinet

Lead member: Housing and Innovation Portfolio Holder

Lead director: Director of Strategy, Innovation and Resources

Contact: Dan Hudson, Strategy Lead Specialist Email: d.hudson@southlakeland.gov.uk.

Background Documents: -