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Help with deposit Bond Paid
cathymcg
Posts: 9 Forumite
Can anyone help me with a commercial property matter 10 years ago I paid a rent deposit bond of £5840 and am now awaiting their offer. how much should I expect to receive back with compound interest.
Thankyou
Thankyou
0
Comments
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The interest rate is probably specified in the original terms of the lease.
Say "2% under HSBC base" once you have that figure you need a spreadsheet and work out the interest annually including movements on base rates which can be found on web and probably on BoE website.
I believe interest is usually applied annually.
As a very rough estimate 3% annually compounded would give a return of £7,8480
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