Notaries Got my deposit! [solicitor] [solicitors]

Q: Hi,

Im in the process of buying my first home.We were originally established for the exchange earlier this week, so I gave my lawyer £ 6000 deposit approximately two weeks ago.

However as always we are now facing with a delay due to vendor problems with their mortgage and are not complete until mid April apparently.

Am I able to claim the interest from my lawyer Im missing, while holding my deposit (as he will probably holding a total of 6 -8 weeks)?

Any help would greatly be received

Thanks


A:You would be entitled to around £30.

A:Have a read here:
http://www.consolidation-debt.tk/showthread.html?t=394890

A:So because its held in a clients bank account and earning some kind of interest, whatever interest he earns on it he is legally obliged to pay it to me??

Have I understood that right? thanks


A:Your is required to keep your money in a client account (i.e., an account where only client money is paid) and that has to be interest-bearing. However it doesn't have to be the best rate on the market, justa reasonable market rate That said, he will have to pay over any interest he earns on it (unless possibly that interest is less than £20, which it won't be).

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