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Solicitor rules
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If a solicitor holds money what interest rate should it be earning?
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If a solicitor is holding money for a client for whatever reason, they have to give what is described as a "fair and reasonable" rate of interest, depending on what the average rate is within the local area. I work for a firm of solicitors in Reading/South East area. We give interest on a scale depending on how much we hold. The maximum is 3.10% for any sums held over �100K. I hope this has been some help.
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