7.4.4 Top-up Facility

Sub-clause 9.1  of the Fourth Supplementary Agreement added sub-clause 11.20 and allows the Bank to 'top-up' an existing Subsidised Advance Loan Account with a new Advance for Essential Repairs or a new Widow Advance.  This is possible only where the interest rate and terms of both loans are compatible.  Reference to this facility is to be included on the Essential Repairs Advance or Widow Advance certificate of entitlement where appropriate.  These arrangements could have fees implications for borrowers.