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Choice of fixed vs floating interest rate PWLB and bank borrowing 2000-2018

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Dear Westminster City Council,

Please provide answers to the following questions in Ms Excel format for your borrowed position between financial years 2000/01 and 2018/19

1) If you borrowed on fixed interest rate terms. How much interest would you have saved if you'd borrowed on floating rate terms?

2) How much has your real capital position changed due to borrowing on fixed rate terms? (If you'd borrowed on floating rates, the answer would be zero)

3) What advice did you take on the choice of fixed vs floating PWLB rates, bearing in mind the PWLB provides both fixed and floating rate loans, and both are priced at market rates?

4) What advice did you take on the choice of fixed vs floating bank loans, bearing in mind banks provides both fixed and floating rate loans, and both are priced at market rates?

5) What is your councils proportion of fixed to floating interest rate debt? and how does this vary from guidance/ best practice?

6) If you chose to restructure and extend the duration of your loans over this period - upon whose advice was such action taken?

7) If you could go back in time, would the majority of your borrowing have been at floating rates instead of fixed rate?

Yours faithfully,

Joel M Benjamin

Westminster City Council

Information request
Our reference: 8541466

--------------------------------------------------------------------------

 
Dear Mr Benjamin
 
Thank you for contacting Westminster City Council's Information Management
Team. 

Your query will be allocated for response, and someone will contact you
within 5 working days to confirm the details of your request. 

Please see the Council's website for further information on the Freedom of
Information Act
- [1]http://www.westminster.gov.uk/services/c...

Kind regards, 
 
Information Management Team
Westminster City Council
5 Strand
London
WC2N 5HR
[Westminster City Council request email]
 
NOTE: Please do not edit the subject line when replying to this email.
 

References

Visible links
1. http://www.westminster.gov.uk/services/c...

Westminster City Council

Information request
Our reference: 8541466

--------------------------------------------------------------------------

 
Dear Mr Benjamin,
 
Freedom of Information Act 2000
 
Thank you for your request for information that was received on 10
November 2018.
 
Request summary
 
Please provide answers to the following questions in Ms Excel format for
your borrowed position between financial years 2000/01 and 2018/19
1) If you borrowed on fixed interest rate terms. How much interest would
you have saved if you'd borrowed on floating rate terms?
2) How much has your real capital position changed due to borrowing on
fixed rate terms? (If you'd borrowed on floating rates, the answer would
be zero)
3) What advice did you take on the choice of fixed vs floating PWLB rates,
bearing in mind the PWLB provides both fixed and floating rate loans, and
both are priced at market rates?
4) What advice did you take on the choice of fixed vs floating bank loans,
bearing in mind banks provides both fixed and floating rate loans, and
both are priced at market rates?
5) What is your councils proportion of fixed to floating interest rate
debt? and how does this vary from guidance/ best practice?
6) If you chose to restructure and extend the duration of your loans over
this period - upon whose advice was such action taken?
7) If you could go back in time, would the majority of your borrowing have
been at floating rates instead of fixed rate?
 
We are dealing with your request under the Freedom of Information Act 2000
and we aim to send a response by 7 December 2018.
 
The Freedom of Information Act 2000 may restrict the release of some or
all of the information you have requested. We will carry out an assessment
and if any exemptions apply to some or all of the information then we
might not provide that information to you. We will inform you if this is
the case and advise you of your rights to request an internal review and
to complain to the Information Commissioner's Office.
 
We will also advise you if we cannot provide you with the information
requested for any other reason together with the reason(s) why and details
of how you may appeal (if appropriate).
 
Yours sincerely
 
 
Westminster City Council
Email: [1][Westminster City Council request email]
Web: [2]www.westminster.gov.uk
 
NOTE: Please do not edit the subject line when replying to this email.
 

References

Visible links
1. mailto:[Westminster City Council request email]
2. file:///tmp/www.westminster.gov.uk

Westminster City Council

Information request
Our reference: 8541466

--------------------------------------------------------------------------

 
Dear Mr Benjamin
 
Freedom of Information Act 2000
 

The Council are aware your Freedom of Information request is now overdue.
The Council are still working on your request but need more time to
process it as we have not had a response from the department(s) tasked
with responding. We are aiming to respond by 18 December 2018 but will
inform you of any further delays.

 
Yours sincerely
 
 
Westminster City Council
Tel: 0207 641 3921
Email: [1][Westminster City Council request email]
Web: [2]www.westminster.gov.uk
 
NOTE: Please do not edit the subject line when replying to this email.
 

References

Visible links
1. mailto:[Westminster City Council request email]
2. file:///tmp/www.westminster.gov.uk

We don't know whether the most recent response to this request contains information or not – if you are Joel M Benjamin please sign in and let everyone know.

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