Tenancy Deposit Specified Interest Rate

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Tenancy Deposit Specified Interest Rate

    With the Tenancy Deposit Specified Interest Rate at 2.32% below BOE base is a tenant liable for the negative 1.32% ?

  • #2
    Interest Rates

    Good question - not sure how this custodial scheme - which is supposed to be financed through the interest on monies it holds on deposit - is making ends meet?

    Comment


    • #3
      Originally posted by Wickerman
      We shall see. I suspect it will go to a subscription based service, at which point I move to TDS or mydeposits.co.uk - I struggle with the DPS every day and think it is a bureaucratic nightmare up there with dealing with my local council.

      On a side note, I am dealing with the local council about buying the freehold of a property I bought from them that needed a full refurb.

      Them: "Please send me your building regulations consent for the new windows".

      Me: "I had it done by a FENSA registered contractor. Here is the certificate."

      Them: "Please send me your building regulations consent for the new windows".

      Me: "FENSA certificates show that in the installers opinon the work has been done to the relevant building regulations (quotes specific regulations)"

      Them: "Please send me your building regulations consent for the new windows".

      My solicitor (to them): "are you stupid????" or words to that effect "we have provided what the law requires. Do you want us to go further and pay the council to inspect work that has already been self certified????".

      It reminds me of the film Brazil. "I see the ministry is keeping up its tradition of employing the best and the brightest, sir!"
      Sorry to say this, but a FENSA certificate is no actual guarantee that all regs have been complied with, despite the wording.

      So the council may have a point after all.

      Comment


      • #4
        Originally posted by Perplexed View Post
        Sorry to say this, but a FENSA certificate is no actual guarantee that all regs have been complied with, despite the wording.
        What, and a building regs certificate is any different?! In any case, if the OP has a FENSA certificate there's certainly no reason why he should be compelled to produce a building regs one as well.

        Comment


        • #5
          Surely the point is that the installer being FENSA registered obviates the necessity of the owner of the premises to have to apply for building regs. It's an ignorant Jobsworth flexing his or her muscle.
          The advice I give should not be construed as a definitive answer, and is without prejudice or liability. You are advised to consult a specialist solicitor or other person of equal legal standing.

          Comment


          • #6
            Originally posted by Paul_f View Post
            Surely the point is that the installer being FENSA registered obviates the necessity of the owner of the premises to have to apply for building regs. It's an ignorant Jobsworth flexing his or her muscle.
            Didn't life work perfectly adequately without FENSA being invented?
            JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
            1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
            2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
            3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
            4. *- Contact info: click on my name (blue-highlight link).

            Comment


            • #7
              It makes you exasperated!
              What if you were in a position not to have a solicitor working for you, you would most probably have felt obliged to cough up.
              I often come across this type of thing, the council sometimes get things wrong and only when challenged by a Solicitor/shelter/citizens Advice etc do they concede.

              Comment

              Latest Activity

              Collapse

              • Tenant's energy debt.
                Gordonmrln
                I am a landlord of a 2 bed end terrace, the property is owned out right. I am registered Disabled and this was the main reason I decided to rent my property out. As it was not a suitable property for my Disability. I would have to make some major changes that would devalue my property like installing...
                20-07-2017, 22:08 PM
              • Reply to Tenant's energy debt.
                leaseholder64
                I wasn't aware that the identity of council tax payers was a public record. You might be able to get a statement that it wasn't you. without breaching the Data Protection Act.
                23-07-2017, 23:27 PM
              • Landlord asks that T to pay deposit protection charge each time we renew AST
                JP23
                Why must we continuously renew our deposit with the scheme each time we re-sign our AST i.e. every 12 months?

                Why can the deposit not remain protected throughout the duration of the overall tenant occupation?

                Is our landlord acting in questionable faith by asking us to pay...
                23-07-2017, 04:18 AM
              • Reply to Landlord asks that T to pay deposit protection charge each time we renew AST
                jjlandlord
                I'd hope so! They run a business after all....
                23-07-2017, 22:32 PM
              • Reply to Landlord asks that T to pay deposit protection charge each time we renew AST
                KTC
                The main problem I have for the charge being passed on is that often times (esp. through agents) the charge is actually considerably more than the protection fee they pay the schemes. It's been used as another way for agents (or landlords) to make money.
                23-07-2017, 22:29 PM
              • Reply to Tenant's energy debt.
                Wright76
                Your still confusing your own council tax liability at your current address with that of the rental property.

                If no-one was registered as living there then you would have been billed as landlord. The fact that you haven't been indicates that they are aware of who was tenant. ASK THEM FOR...
                23-07-2017, 22:18 PM
              • Reply to Landlord asks that T to pay deposit protection charge each time we renew AST
                Wright76
                To be fair lvkn yes the rent covers everything you state, but the 48 pound charge Is your choice and is avoidable.

                You choose to use an insurance based scheme and hold the tenants money collecting interest. How is it fair to force that charge on your tenant each time?

                With...
                23-07-2017, 22:06 PM
              • Reply to Landlord asks that T to pay deposit protection charge each time we renew AST
                Lvkn
                Hello
                i am a landlord and have insurance based deposit protection (I hold the deposit in segregated client account and register it with My Deposits) every time a new contract is drawn up we have to pay £48. If a tenancy is renewed, we pay £48. If someone moves out of one of our multiple tenant...
                23-07-2017, 20:27 PM
              • Excessive estate agent fees
                Cml241
                I have a property which I started renting out via an agency. When the contract started, they found new tenants, did the relevant checks etc and charged an upfront fee which equates to approx one month's rent. As one year has almost passed, the agent has approached me asking if I want them to 'renegotiate'...
                21-07-2017, 16:26 PM
              • Reply to Excessive estate agent fees
                Wright76
                If you have no ongoing contract with the agent and it was "find" only, they have no right to force you into a new AST.

                Depending on the terms of your contract there's nothing to prevent you, if your feeling confident, in renewing the contract yourself and taking over.
                ...
                23-07-2017, 19:11 PM
              Working...
              X