Lending Arrangements

The current terms and conditions contained in Operational Circular 162 apply to PWLB lending.

HM Treasury have also issued new guidance regarding PWLB lending which will apply to any loan arranged from 26 November 2020.  HM Treasury will continue to use the Certainty Rate return, submitted through DELTA, for local authorities to submit a high-level description of their capital spending and financing plans for the following three years, including their expected use of the PWLB. The Certainty Rate return for 2021-22 was launched on 1 April 2021 and will remain open until 31 March 2022. Any queries on the Certainty Rate return should be made via email to certainty.rate@hmtreasury.gov.uk or through the DELTA Customer Portal.

All PWLB related queries should be directed to the DMO via email at pwlb@dmo.gov.uk.

Information regarding concessionary rates is available on the Concessionary Rates page.

With effect from 18 March 2020, applications for PWLB loans must be made by completing the PWLB electronic template and sending it to the DMO by email only.

The template must be completed by an authorised dealer from the names previously notified to the DMO (BOU Team) and sent from an authorised email address.  Non-compliant templates will be rejected.

Completed templates must be emailed to pwlb@dmo.gov.uk.  Normal business hours will continue to apply (i.e. 9.30am to 4.15pm) and only correctly completed email applications received by the DMO between these hours will be accepted.

Furthermore, amendments to existing authorisations using the local authority authorisations form or direct debit changes can be emailed to the team using the same email address.  We will confirm the status of your request within 72 hours.

Operational Arrangements

Standing instructions must be in place prior to any borrowing.

Major authorities - for example metropolitan, borough, county, city and combined authorities

New counterparties - please contact pwlb@dmo.gov.uk to discuss your requirements

Existing Major Authorities may amend their standing instructions by completing the Local Authority Authorisations form.  Once completed, the form must be emailed to pwlb@dmo.gov.uk.

Minor Authorities - for example parish, town councils and community councils and drainage boards

Please refer to Parish Councils and Drainage Boards for further information on applying.

An estimate of repayment costs is available on the Estimated Repayment Costs page.

Please consult the FAQ document for any additional information.