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

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Dear Wirral Metropolitan Borough 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

InfoMgr, FinDMT, Wirral Metropolitan Borough Council

2 Attachments

Dear Mr Benjamin

 

Thank you for your Freedom of Information request in which you asked:

 

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?

 

As per your request, please see the attached Excel spreadsheet in response
to your enquiry.

 

Yours sincerely

 

 

Lynette Paterson

Principal Information Management Officer

Business Management

 

Treasury Building

Argyle Street
Birkenhead
Wirral
CH41 1AH

 

[1]Tel: 0151 691 8201

[2][Wirral Borough Council request email]

 

 

[3]LGC Awards15_Winner_MIP

 

 

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