Award

TRHS0001 Administration of the Shimmer Relocation Appreciation Loan Scheme

DEPARTMENT FOR TRANSPORT

This public procurement record has 2 releases in its history.

Award

05 Sep 2023 at 11:21

Tender

25 Apr 2023 at 13:15

Summary of the contracting process

The Department for Transport has awarded a contract for the administration of the Shimmer Relocation Appreciation Loan Scheme to Lendology CIC. The contract involves providing capped loans to homeowners who cannot independently purchase a replacement property. It includes assessing applications, determining financial aid levels, and managing repayments. The contract is for a three-year term with a value of £70,000 GBP, including assessment based on quality, social value, and price criteria.

This tender offers business opportunities for companies capable of providing administrative services for financial assistance schemes. Businesses in the services sector, particularly those experienced in financial assessment and loan administration, would be well-suited to compete for this tender opportunity. The tender, now completed, focused on quality, social value, and price criteria in awarding the contract for administering the Relocation Appreciation Loan Scheme.

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Notice Title

TRHS0001 Administration of the Shimmer Relocation Appreciation Loan Scheme

Notice Description

This contract is 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.

Lot Information

Lot 1

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. 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 Supplier 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 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: 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.

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-03c400
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/026183-2023
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

75 - Administration, defence and social security services


CPV Codes

75110000 - General public services

75112000 - Administrative services for business operations

Notice Value(s)

Tender Value
£70,000 Under £100K
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£70,000 Under £100K

Notice Dates

Publication Date
5 Sep 20232 years ago
Submission Deadline
26 May 2023Expired
Future Notice Date
Not specified
Award Date
15 Aug 20232 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Cancelled
Awards Status
Active
Contracts Status
Active

Contracting Authority (Buyer)

Main Buyer
DEPARTMENT FOR TRANSPORT
Contact Name
GCD CRM Rail
Contact Email
gcdcrmrail@dft.gov.uk
Contact Phone
Not specified

Buyer Location

Locality
LONDON
Postcode
SW1P 4DR
Post Town
South West London
Country
England

Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
Not specified

Local Authority
Westminster
Electoral Ward
Vincent Square
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

LENDOLOGY

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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