Dear Ms Polhill,

Thank you for your request dated 15 April 2024, asking for information that we hold as follows:

Under the Freedom of Information Act, I would like to request the following information:

– Over the past 20 years how many loan agreements have Barnet Homes given and with what interest rates / terms.
– Were any of these loans “interest free”.
– If loans were granted interest free, or at more favourable terms, what criteria was this determined by.

Barnet Homes’ response

In 2006 Barnet homes lent London Area Procurement Netwok (LAPN)  £37,000, a commercial interest rate was charged. In 2009 LAPN became Cyntra. Cyntra went into administration and £42k was written off (£37,000 plus unpaid interest of £5,000).

 

In 2013 a £1m loan was made to the related company Your Choice (Barnet). The interest rate was 6%. This loan has been fully repaid by 31 March 2024

 

In 2019 a loan facility of up to £2m was provided to the Barnet home subsidiary company Open Door Homes. A commercial interest rate was charged. This loan facility is no longer in operation as it ended in March 2021.

 

In 2019 a loan for £290,000 was made to a related company (Bumblebee Lettings); the interest  rate is 6% and this loan has not been repaid as at 31 March 2024.

 

Your Rights

If you are unhappy with the way your request for information has been handled, you can request a review by emailing Talk2Us@barnethomes.org and marking it as an appeal for the attention of the Data Controller. There is no charge for making an appeal.

After this, if you remain dissatisfied with the handling of your request or complaint, you have the right to appeal to the Information Commissioner:

Kind regards,

Carly Williamson

Complaints and Information Manager

 

Tel: 020 8080 6587

Address: 3rd Floor, 2 Bristol Avenue, Colindale, London NW9 4EW