English building of note needs pounds for new payment (9)
I believe the answer is:
emolument
'payment' is the definition.
(emolument is a kind of payment)
'english building of note needs pounds for new' is the wordplay.
I cannot quite see how this works, but
'english' could be 'e' (abbreviation) and 'e' is found within the answer.
'of' could be 'o' and 'o' is found in the answer.
'note' could be 'me' and 'me' is present in the answer.
'pounds' could be 'l' (L can represent the monetary pound) and 'l' is found within the answer.
'new' could be 'n' and 'n' is found within the answer.
This explanation may well be incorrect...
(Other definitions for emolument that I've seen before include "profit results" , "Compensation paid" , "A fee received, salary" , "payment" , "Profit of employment" .)