Is late payment interest fixed at 8%?

361 Views  ⚫  Asked 2 Years Ago
asked on Dec 30, 2016 at 17:02
edited on Dec 30, 2016 at 17:04
by   Chambering

I would like to know whether the 8% interest on late payment charges or any late payment penalty in the SPA is fixed. Is there a law governing this? Why 8%? Why not higher or lower percentage? 
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answered on Jan 9, 2017 at 03:26
Can verify this fact by just contacting the Housing Associations.
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