Q: The developer is charging me late payment interest which is not my fault. What should I do?
A: All payments under the Sale and Purchase Agreement (SPA) must be paid within the time frame specified in the agreement. Otherwise, the developer has a right to charge interest on late payments. Unless you can prove that the reason the progressive payments were late was because of the financier, lawyer or even the developer, you will have to foot the bill. Lawyers and financiers dealing with conveyancing work are familiar with the time frames within which they have to work to prevent buyers from footing additional interest on late payments.