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Hi

 

I'm suing my landlord for not registering my despoit in a tenancy deposit scheme and for withholding part of my deposit, and I'm unsure how much interest to claim for.

 

Can someone please tell me:

 

A. The date at which the money became due, eg when I signed my agreement or when I left the property?

 

B. Whether the interest is simple or compound?

 

C. Whether the daily rate of interest to put in the claim is 0.02 % (this is roughly what you get when you divide 8% by 365).

 

Also, does anyone know of any websites you can use that will calculate the interest for you?

 

Thanks in advance.

 

Jeff

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jeffw, i'm pursuing my own case using the services of a solicitor. he calculated the interest starting from the day the noncompliance began, so 14 days after the deposit was paid. i can only assume this is legitimate but it hasn't been before a judge yet so not sure what the judge will say. the daily rate i believe is .000219 but i assume you can round to the nearest significant figure. i dont know of a website but excel is handy for doing this. or maybe google spreadsheets. you'll want to set something up coz you'll prob need to keep recalculating interest. eg, we added more interest due when filing the allocation questionnaire, and i assume we'll add more interest still when we get a hearing altho i don't know. the point is the clock keeps ticking, it'll cost the LL/LA money. good luck!

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If you have left the property you may get the deposit back plus 3x deposit amount thats it, you will only get interest on any amount if he does not pay up beyond the date the court sets..

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Thanks guys.

 

Jeff

 

If you have left the property you may get the deposit back plus 3x deposit amount thats it, you will only get interest on any amount if he does not pay up beyond the date the court sets..

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