Open competition
Open procedure: the contract was advertised and any supplier could submit a bid.
Key facts
- Buyer
- Department for Transport · Body governed by public law
- Supplier
- Lendology CIC
- Value
- £70,000
- Procedure
- Open procedure
- Sector
- Public administration & defence services · General public services (CPV 75110000)
- Region
- London
- Official notice
- 026183-2023 on Find a Tender
- Timeline
-
- Contract date16 Aug 2023
- Published5 Sep 2023Published 20 days after the contract date
Description
The contract will require the Supplier 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. …
About the supplier
Lendology CIC: every public contract they have won.