TRHS0001 Administration of the Shimmer Relocation Appreciation Loan Scheme

Concepts

• general public
• dft
• relocation appreciation loan
• administration services
• capped loan
• amount of the loan
• loan
• loan amount
• full administration
• ral

Location

United Kingdom:

Description

1.1 The Department for Transport (DfT) invites proposals for the full administration on a three year contract to administer a Relocation Appreciation Loan (RAL) Scheme. This will include the assessment and processing of applications, determining the level of financial assistance that should be provided within the scheme’s criteria, and administering the loan and any repayments made by the recipient. The RAL is an established scheme that has been operational for five years.

Total Quantity or Scope

The contract will require the Tenderer to work with both the DfT and HS2 Ltd. While the DfT will perform the role of Contract Manager, delivery reports will need to be distributed to both organisations. The RAL will provide a capped loan to homeowners who cannot purchase a replacement local property independently. No interest will be charged on the amount of the loan over its duration, although applicants will be able to make repayments within scheme rules. The loan will be repayable as a proportion of the property’s value when the replacement property next changes ownership, enforceable via a legal charge placed on the property. The loan will complement existing Compensation Code payments and cover any shortfall between an applicant’s Compensation Code payment and the cost of a replacement local equivalent property (subject to certain caveats). Caps will apply to the loan amount and to the equity share in the replacement property, which will be confirmed at the contract award stage. RICS valuation of the applicant’s current property, and their chosen alternative property, as well as a RICS assessment of whether the alternative property is considered “local” and “comparable” will be carried out by another third party (estate agent or similar) organisation in line with the scheme’s criteria. The winning contractor will be able, and expected, to use valuations commissioned from this third party organisation when assessing RAL applications, and when administering repayments during the loan’s life. The tender response must make reference to how loan applicants will be financially assessed, including checking for interests in other properties (both here and abroad), and savings held. The Contract term will be for an initial term of 36 months, with an option to extend at the DfT’s sole discretion for 12+12 months if required.

Renewal Options

The Contract term will be for an initial term of 36 months, with an option to extend at the DfT’s sole discretion for 12+12 months if required.

CPV Codes

• 75110000 - General public services
• 75112000 - Administrative services for business operations

Indicators

• This is a one-off contract (no recurrence)
• Renewals are available.

Other Information

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