Factoring Charge Consultation 2025/26

Each year the Association’s Board reviews the factoring fees charged and seeks owners’ views on any proposed increase prior to final approval being given.

The Association must set its budget for 2025/26 to ensure that we remain financially viable in the long term and continue to provide the best standard of service we can for all of our residents.  At the same time, we are aware that any increases factoring fees will negatively impact on residents’ finances.  Particularly in light of rising costs for fuel, food and other essential services.

On reviewing our Business Plan, and to ensure our services can be maintained, we are proposing that the factoring fee increase for 2025/2026 is set at 3.2%, and the increase will come into effect on 1 April 2025.

All comments received will be reported to the Association’s Board prior to making a final decision on factoring fees in January 2025.

We are keen to hear your views on the proposed factoring fee increase and would encourage you to complete and return the attached rent survey.  An online version of the survey can also be found at https://forms.office.com/e/aD4c9Kz4G6 or by scanning the QR code.

The factoring fee consultation period is open from 16^th December 2024 until 10^th January 2025.  All comments received will be reported to the Association’s Board prior to making a decision on any proposed increase.   Additionally, all replies received will be entered into a prize draw for a £50 ASDA gift voucher.

If you wish to discuss the proposed factoring fee increase in further detail you can contact Thomas McIlvaney, Head of Housing, on 0141 729 8010 or at thomas.mcilvaney@cadderhousing.co.uk