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Does my money get protected to transfer balance(house purchase) via solicitor.
arlee
Posts: 64 Forumite
Sorry if this is a rather silly question, but its my first purchase and paying all cash, thought might as well ask everyone for a peace of mind.
I bought a house at auction and paid 10% to the auctioneer on the day, just got the statement from my solicitor to pay off the balance and fees, I was wondering how safe my money is via my solicitor's account (what if the solicitor firm gone bankcrupt or something, will my money be protected?)
I have checked the solicitor firm on the law society and company house's website, it appears all registered.
its a lot of money, can't help thinking (worrying) of it....
I bought a house at auction and paid 10% to the auctioneer on the day, just got the statement from my solicitor to pay off the balance and fees, I was wondering how safe my money is via my solicitor's account (what if the solicitor firm gone bankcrupt or something, will my money be protected?)
I have checked the solicitor firm on the law society and company house's website, it appears all registered.
its a lot of money, can't help thinking (worrying) of it....
0
Comments
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The Solicitors Indemnity Fund will in most cases cover any losses arising from the collapse of a firm or dishonesty on the part of a solicitor.0
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