Tenancy Deposit Specified Interest Rate

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    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.

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