Vendors dropped out! But solicitors still holding my deposit money!!!!

indielad

Dear Moneysavingexpert community

I purchased a house for £120,000 and put a deposit down of £30,000, but unfortuantely the vendors have pulled out at the very last minute as they couldn't port their mortgage. The fault lay totally on their side. Yes I am fully aware that I will still have to pay £100s of legal costs, but the conveyancers have still not returned my £30,000 deposit money after a week. They insisted I send it them beofre contracts were exchanged. Is there anyway I can get them to hurry along or make them give me my money back? The firm are MFG solicitors. Thank YOu

Thrugelmir

Have you exchanged contracts?

mrs_motivated

If I remember rightly, when solicitors have client money the law society insists they put it in a 'client account' and pay interest on it to you.

It certainly used to be like that anyway.

You will get your money back, probably less legal costs. What are they saving the delay is in getting it back to you?