FAQ EXCLUSIVE to Property e-alert 70
How does the Law Society calculate its interest rate for late completion?
The Law Society interest rate is 4% above the base rate for the time being of Barclays Bank Plc. At the time of going to press, the base rate is 1% so the Law Society rate is currently 4.5%. The rate is published weekly in the Law Society Gazette’s ‘In Practice’ page and monthly in the ‘Data Page’.
Please note:
This FAQ is published by the Law Society’s Practice Advice Service, tel 0870 606 2522. Comments relating to the questions should be sent to Ms Nasrin Master, Practice Advice Service Manager, The Law Society, 113 Chancery Lane, London, WCA 1PL. While every effort has been made to ensure the accuracy of the information in this faq, it does not constitute legal advice and cannot be relied upon as such. The Law Society does not accept any responsibility for liabilities arising as a result of reliance upon the information given
How does the Law Society calculate its interest rate for late completion?
The Law Society interest rate is 4% above the base rate for the time being of Barclays Bank Plc. At the time of going to press, the base rate is 1% so the Law Society rate is currently 4.5%. The rate is published weekly in the Law Society Gazette’s ‘In Practice’ page and monthly in the ‘Data Page’.
Please note:
This FAQ is published by the Law Society’s Practice Advice Service, tel 0870 606 2522. Comments relating to the questions should be sent to Ms Nasrin Master, Practice Advice Service Manager, The Law Society, 113 Chancery Lane, London, WCA 1PL. While every effort has been made to ensure the accuracy of the information in this faq, it does not constitute legal advice and cannot be relied upon as such. The Law Society does not accept any responsibility for liabilities arising as a result of reliance upon the information given