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Am I entitled to interest made by solicitor on my funds?
ChicJo
Posts: 40 Forumite
Does anyone know if I can ask my solicitor for any interest he has made on the funds he has kept from my property sale while he is waiting for my purchase to complete. He will have been 'looking after' my funds in his bank account for about 4 weeks? Thanks in advance...
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Comments
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This should be standard and is probably covered in their "Terms of Business", issued when you instructed them. Check your paperwork.
Maybe not as good as a decent savings account, but better than sitting in a current account, probably.0 -
Yes, I have always asked for the interest when houses have been delayed but the money is being held, have never had a problem getting it, although it won't be much as it will be held in a standard checking type account.0
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i have received interest from solicitors0
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I hired a conveyancing solicitor yesterday and it was in the terms of business that they would, if holding substatntial sums, and and where it was 'reasonable' that interest should be earned for the client, that it would be placed in a suitable account and aggregated with other clients' monies to increase the interest earned over what it would be on an individual account basis.0
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