Technical Notes

Interest rates for Public Works Loans are determined by HM Treasury in accordance with section 5 of the National Loans Act 1968. In practice, rates are set by the DMO on HM Treasury's behalf in accordance with agreed procedures and methodologies which are described in a DMO Technical Note last updated on 1 March 2021.

Premium & Discount Calculations

The PWLB lending facility has provided guidance regarding the calculations applied to the premature repayment of a loan.

Fixed Early Repayment

Variable Early Repayment

Annuity Factor