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What interest rate to charge rent payments? A substantial…

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What interest rate to charge...
What interest rate to charge for missed rent payments?A substantial amount of rent of over £50,000 is owed, what interest rate's should be charged, as well as are there any other damages we should be charging for so much owed & substantial amount of months unpaid rent.
Submitted: 2 years ago.Category: UK Property Law
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Answered in 1 hour by:
3/5/2016
Solicitor: Thomas Judge, solicitor Advocate replied 2 years ago
Thomas Judge
Thomas Judge, solicitor Advocate
Category: UK Property Law
Satisfied Customers: 33,992
Experience: award winning lawyer with over 15 years experience
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It rather depends upon what is stated in the lease. If nothing is stated in the lease then you would often seek to recover pursuant to s.69 of the county court act 1984 (you need to quote this in the particulars of claim) at 8% per annum. There are not other specific sums which can be claimed unless stated in the lease. I hope this helps. Please rate positive.

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Customer reply replied 2 years ago
Can you charge interest on penalties in the t&c? ie late payment charges?Thanks
Customer reply replied 2 years ago
I read somewhere you can charge interest on penalties, im not sure if that applies to an AST
Customer reply replied 2 years ago
I mean cant charge interest on penalties
Solicitor: Thomas Judge, solicitor Advocate replied 2 years ago

Not on ASTs I am afraid - they are business to business penalties. Please rate positive. Thanks

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Solicitor: Thomas Judge, solicitor Advocate replied 2 years ago
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