Dates for Charging Interest

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    Dates for Charging Interest

    Hello All,

    Does anybody know, when arrears have built up over a period of i.e. over a 6 month period from what date do you start to charge interest?

    Thanks

    #2
    Depends what the agreement says.

    Comment


      #3
      Originally posted by natt48 View Post
      Does anybody know, when arrears have built up over a period of i.e. over a 6 month period from what date do you start to charge interest?
      Originally posted by Lawcruncher View Post
      Depends what the agreement says.
      Really, interest is due on whatever T owes from date payable until date paid.
      What is relevant is what the Letting Agreement says re:
      a. dates of rent etc. due; and
      b. interest rate payable.
      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


        #4
        Most Agreements imply interest will be applied to whole amount, 14 days after payment due.

        Comment


          #5
          Some require interest to be paid from the due date until the date of payment if not paid within a specified number of days after it falls due.

          Comment


            #6
            Originally posted by mariner View Post
            Most Agreements imply interest will be applied to whole amount, 14 days after payment due.
            Do they? Just how do they 'imply' it, then?
            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

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