Calculating interest
Rent Arrears

1 Thanks
29 Posts
14 years ago
My tenant has continuously since August 2007 failed to pay his rent on time despite many letters reminding him that interest is due on late payments. The interest stipulated in his lease is 4% above base rate of the Royal Bank of Scotland. he is now leaving and `i need to know how
1) to find a table of RBS interest rates going back to 2007, and
2) as rates have changed so frequently will i have to calculate this month by month- or could I do it, say, in 6 monthly periods using the rate at the beginning of the period?
I can't imagine I am the only landlord with this problem?

Please Login

You must be logged in to participate in our forums, to continue please login below.

Not a member? From only £99 you can join in the discussion and get access to member's only resources and services.

As the home for landlords, the NRLA are here to help you save time, save money, and stay compliant. NRLA membership gives you access to a vast range of expertise, resources, and exclusive member benefits and savings, designed to help and empower members. We also play a pivotal role in campaigning and championing the interests of landlords.