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Thomas Judge
Thomas Judge, solicitor Advocate
Category: UK Property Law
Satisfied Customers: 33038
Experience:  award winning lawyer with over 15 years experience
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What interest rate to charge rent payments? A substantial

Customer Question

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: 1 year ago.
Category: UK Property Law
Expert:  Thomas Judge replied 1 year ago.

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.

Customer: replied 1 year ago.
Can you charge interest on penalties in the t&c? ie late payment charges?Thanks
Customer: replied 1 year ago.
I read somewhere you can charge interest on penalties, im not sure if that applies to an AST
Customer: replied 1 year ago.
I mean cant charge interest on penalties
Expert:  Thomas Judge replied 1 year ago.

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

Expert:  Thomas Judge replied 1 year ago.

I hope this has answered your query. I would be grateful if you could please take a second to leave a positive rating (3, 4 or 5 stars) as that is an important part of our process and recognises the time I have spent assisting you. If you need me to clarify anything before you go - please get back to me on here and I will assist further as best as I can. Thank you